Categories: Blockchain

Haven Protocol Integrates Band Protocol’s Pricing Oracle

Monero based DeFi ecosystem Haven Protocol has integrated decentralized oracle network Band Protocol’s pricing oracle to secure its decentralized private assets. Band Protocol will be the primary price aggregator for Haven Protocol’s synthetic assets, including xGOLD, xSILV, xEUR, and xCNY, while Chainlink as a backup to further decentralize the network’s private assets.

In Twitter feed on Thursday, Band Protocol stated that it will provide price feeds for all XHV based stablecoins on Haven mainnet after the v0.16 update. Band further added that the decentralized price feeds would update every 30 seconds and be derived from various authentic data providers nominated by Havel Protocol itself.

Haven Protocol is based on the Monero network, one of the most decentralized, secure, and privacy-focused crypto networks globally. The protocol allows users to peg their XHV tokens to various fiat currencies, including the USD, EUR, and CNY, or traditional assets like Gold and Silver. Commenting on the integration with Band Protocol, David Bandtock, Project Lead at Haven Protocol, said that it is a critical step towards decentralizing Haven, a top priority of the network’s team and community alike.

Band Protocol is one of the largest providers of decentralized data oracles in the crypto-blockchain industry. The protocol aggregates and connects smart contracts with real-world data and APIs, providing access to secure off-chain data. Band Protocol Co-Founder & CEO Soravis Srinawakoon said that they are looking forward to supporting a leader in privacy-focused DeFi, who is working on synthetic assets and stablecoins. Further, the integration with Haven Protocol propels them to deliver decentralized private money to everyone worldwide.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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