Multi-grant winning decentralized digital asset trading application FutureICX has integrated Band Protocol’s data oracles for scalable decentralized price feeds for future and current markets. Band Protocol further informed that FutureICX has completed its migration on BandChain, the protocol’s mainnet based on Proof-of-Authority architecture.
1/ ? @FutureICX, a multi-grant winning decentralized prediction market built on @helloiconworld, is integrating $BAND oracles on the BandChain Proof-of-Authority Mainnet for scalable decentralized price feeds for all current and future markets.https://t.co/1qPyqT7Ay1
— Band Protocol (@BandProtocol) August 21, 2020
FutureICX was built on ICON Network, one of the world’s largest blockchain networks. It is a prediction market trading platform, which allows users to bet and compete on future prices of crypto-asset pairs, and earn rewards. This gives users an opportunity to lock horns with other users rather than competing with institutional investors.
Using the data oracles of the Band Protocol, FutureICX’s developers have come up with an oracle script to query the ICX/USD pair price feed that is designed to update upon a price deviation of 1% or every 5 minutes. Founder of FutureICX, Dilyan Georgiev said that their aim is to build a fair platform for skilled traders, where they don’t have to outplay institutional investors. Dilyan added,
Band Protocol is one of the leading decentralized data oracle networks in the world, that aggregates and connects APIs and real-world data with smart contracts. In the Medium post, Band Protocol said that they have been working with FutureICX in the recent months to fine-tune parameters to test and build secure and reliable price feed oracles. Soravis Srinawakoon, Co-Founder and CEO of Band Protocol, commented that they were excited to support FutureICX and other dApps coming out of the ICON ecosystem. He further added,