Band Protocol has integrated its price oracle with the SORA network. SORA is a multifaceted economic system that employs on-chain governance to propose and fund a wide range of goods and services. This partnership combines Band Protocol’s secure price feeds with the versatility of SORA Synthetics on Polkaswap, ushering in a new era in decentralized synthetic asset trading.
This integration enables SORA Synthetics to incorporate Band price feeds for over 30 diverse assets, including cryptocurrencies, fiat currencies, and real-world assets such as gold and silver. Users can now mint these assets, facilitating the decentralized creation, holding, and trading of synthetic assets. Band Protocol and the SORA blockchain team have implemented a mechanism that updates the price feed consistently every 4 minutes.
This integration extends the appeal of SORA Synthetics to a broader audience, including investors seeking portfolio stability, individuals facing geopolitical barriers, and enthusiasts looking to diversify across various asset classes without leaving the SORA network.