BAND

1. Project introduction

Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. It is built on BandChain. Based on Comos’ state-of-the-art SDK. BandChain can process thousands of transactions per second with instant finality and the ability to send oracle data across multiple blockchains.

BandChain was created with the following design goals:

(1) Speed and Scalability: The system must be able to serve a large quantity of data requests to multiple public blockchains with minimal latency and while maintaining a high throughput. The expected response time must be in the order of seconds.

(2) Cross-Chain Compatibility: The system must be blockchain-agnostic and able to serve data to most publicly available blockchains. Verification of data authenticity on the target blockchains must be efficient and trustless by nature.

(3) Data Flexibility: The system must be generic and able to support different methods of retrieving and aggregating data, including both permissionless, publicly available data as well as information guarded by centralized parties.

BandChain achieves the aforementioned goals with a blockchain specifically built for off-chain data curation. The blockchain supports generic data requests and on-chain aggregations with WebAssembly-powered oracle scripts. Oracle results on BandChain blockchain can be sent across to other blockchains via the Inter-Blockchain Communication protocol (IBC) or through customized one-way bridges with minimal latency.

2. Team introduction

CEO & Co-Founder: Soravis Srinawakoon

CTO & Co-Founder: Sorawit Suriyakarn

CPO & Co-Founder: Paul Nattapatsiri

3. Investment institution

Sequoia India, Dunamu & Partners, Binance, Spartan Group, Alphain Ventures, Woodstock, SeaX

4. Application and distribution

Token application:

BandChain currently utilizes its native BAND token as the sole token on its network. The chain then uses the promise of receiving reward tokens as an incentive for validators to produce new blocks and submit responses to data requests. Additionally, any network participants can use the tokens in 3 ways:

(1) Token holders can use the tokens they own to become validators.

(2) They can instead delegate their holdings to another validator to earn a portion of the collected fees and inflationary rewards

(3) They can also use their tokens to participate in the chain’s governance. Validators are allowed to set a fee for processing transactions, which act as their reward for performing their duty.

Token distribution:

Seed Sale: 10.00%

Private Sale: 5.00%

Public Sale: 12.37%

Ecosystem: 25.63%

Team: 20%

Advisors: 5.00%

Foundation: 22.00%