фото показано с : invezz.com

Fantom — a scalable, fast, and secure platform for DeFi, supply chains, and even crypto payments — just launched a new DeFi protocol called Liquid Staking. The service combined its own technology with Band Protocol’s (BAND) decentralized price oracles to bring liquidity to stake assets on its layer-1 protocol, and being the first project in crypto history to ever do so.

Thanks to Fantom’s new move, the service will now be able to offer its community to use stake assets for a variety of DeFi applications. For example, its users will be able to mint a synthetic asset called sFTM in a 1:1 ratio to the project’s delegated FTM.

After minting sFTM, the tokens can be deployed within the entire Fantom Finance ecosystem. Furthermore, users will be able to trade synthetic assets with the project’s fMint stablecoin protocol, which is collateralized by its native FTM tokens.

Michael Kong, the project’s CEO, commented on the move by saying that the launch of Liquid Staking marks a major step forward for Fantom’s community. He also noted that this will play a crucial role in illustrating the network’s speed, and it will also drive usage of fUSD.

Unfortunately, there are always potential malicious actors to watch out for, which is why the project had to use third-party oracles to ensure that the pricing data will keep its quality. This is why they opted to go for BandChain oracles.

Band Protocol became rather well-known for its scalable oracle technology. A number of projects already use it to derive accurate real-time information regarding prices. Now, the same technology has been integrated for all assets available on Liquid Staking. For the moment, those include fUSD, fEUR, fGBP, fJPY, fCNY, fKRW, fCHF, fBTC, fETH, fBNB, fLINK, fGold, fBAND, and fSilver. However, additional 176 assets will be listed, as well, later on.

This will ensure that the platform has no single point of failure, nor a central authority that would be able to manipulate prices.

The post Fantom uses Band Protocol’s (BAND) price oracles to launch Liquid Staking appeared first on Invezz.

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