{"id":"band-protocol","title":"Band Protocol","content":"Band Protocol (BAND) is a cross-chain data oracle platform that positions itself as a unified data layer for AI and [Web3](https://iq.wiki/wiki/web3) applications[\\[6\\]](#cite-id-kOAaAjMyCyXkjTG4). It aggregates and connects real-world data and APIs to smart contracts, using a Delegated Proof-of-Stake (DPoS) consensus mechanism to ensure data integrity[\\[7\\]](#cite-id-VO4BnsA3fdyH3qZI). It aims to be the go-to data infrastructure layer for Web 3.0 applications by providing decentralized, curated off-chain data to smart contracts through oracles managed by its DPoS consensus mechanism[\\[1\\]](#cite-id-3ecbch1ij89).\n\nAs of early 2026, the network secures over $215 million in total value, supports over 40 blockchains, and is used by more than 80 clients and partners. The network's security is maintained by over 67 validators drawing from more than 11 data sources[\\[8\\]](#cite-id-BooiBT7HRV0qOOHp).\n\n# Overview\n\nBand Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle[\\[2\\]](#cite-id-fss9j4w91k8). The protocol is backed by a strong network of stakeholders including Sequoia Capital and the cryptocurrency exchange, [Binance](https://iq.wiki/wiki/binance)[\\[3\\]](#cite-id-i4yqnsvwhel)[\\[9\\]](#cite-id-vR1XW26tLMhwsfQs).\n\n# History and Development\n\nBand Protocol was founded in 2017 by Soravis Srinawakoon, Paul Nattapatsiri, and Sorawit Suriyakarn[\\[10\\]](#cite-id-BKT17IQ80U0jscgp). The project initially aimed to provide reliable information for online blockchain communities before pivoting to focus on supplying real-world data for smart contracts.\n\nThe protocol originally launched on the [Ethereum](https://iq.wiki/wiki/ethereum) blockchain. In 2019, the project conducted several fundraising rounds, including a $3 million seed round, a $2 million private sale, and a $5.85 million Initial Exchange Offering (IEO) on [Binance](https://iq.wiki/wiki/binance) Launchpad[\\[9\\]](#cite-id-vR1XW26tLMhwsfQs).\n\nIn 2020, the team launched Band Protocol 2.0, migrating from [Ethereum](https://iq.wiki/wiki/ethereum) to its own purpose-built blockchain, BandChain, developed using the Cosmos SDK[\\[10\\]](#cite-id-BKT17IQ80U0jscgp). The development of BandChain has been structured in multiple phases[\\[10\\]](#cite-id-BKT17IQ80U0jscgp):\n\n* **Phase 0 (Wenchang):** Launched in June 2020, this phase facilitated the transition of BAND tokens from [Ethereum](https://iq.wiki/wiki/ethereum) to BandChain. This phase is now deprecated.\n* **Phase 1 (GuanYu):** Completed in October 2020, this phase introduced Oracle-WASM for creating custom oracle scripts and added support for the Inter-Blockchain Communication (IBC) protocol.\n* **Phase 2 (Laozi):** The current phase focuses on enabling data providers to monetize their data on-chain and improving cross-chain compatibility.\n* **Phase 3 (Confucius):** A research-oriented phase planned to explore new payment models, a peer-to-peer authentication gateway, and standards for enterprise software interoperability.\n\n# Technology\n\nBandChain is a blockchain built using the Cosmos SDK specifically for oracle computations, allowing it to handle data sourcing, aggregation, and settlement efficiently[\\[7\\]](#cite-id-VO4BnsA3fdyH3qZI). It operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism, where the top 100 node operators with the most staked BAND tokens are selected as validators. These validators are responsible for verifying transactions and ensuring data integrity. Validators risk losing a portion of their stake if they provide inaccurate data or fail to perform their duties[\\[9\\]](#cite-id-vR1XW26tLMhwsfQs).\n\nThe network is designed for high performance, featuring a block time of approximately two seconds. Data can be queried on-demand by smart contracts, with results delivered and ready for confirmation on the destination chain within 4-6 seconds[\\[7\\]](#cite-id-VO4BnsA3fdyH3qZI). This architecture makes Band Protocol a cross-chain solution, as its oracle computations are not bottlenecked by congestion on the blockchains where dApps are hosted.\n\n# Products\n\nBand Protocol offers several core products to serve both [Web3](https://iq.wiki/wiki/web3) and AI applications[\\[8\\]](#cite-id-BooiBT7HRV0qOOHp):\n\n* **Data Feed:** Connects decentralized applications to real-time financial data, featuring a \"Concurrent Price Stream\" for up-to-date information.\n* **Verifiable Randomness Function (VRF):** Provides a transparent and verifiable source of on-chain randomness, essential for gaming, NFTs, and other applications requiring unpredictable outcomes.\n* **Membit:** A product designed to provide up-to-date information for Large Language Models (LLMs) and other AI systems, using \"Data Hunters\" to update AI knowledge bases.\n\n# BAND Token\n\nThe BAND token is the native utility token of the Band Protocol ecosystem. Though BAND tokens were previously based on the ERC-20 standard, they were relaunched as native tokens on the Band Protocol mainnet (BandChain)[\\[1\\]](#cite-id-3ecbch1ij89). The primary utilities of the token are staking, governance, and paying for network fees[\\[7\\]](#cite-id-VO4BnsA3fdyH3qZI)[\\[10\\]](#cite-id-BKT17IQ80U0jscgp).\n\nWhile the initial supply was 100 million tokens, BandChain employs an inflationary model to incentivize staking. The annual inflation rate adjusts between 7% and 20% with the goal of keeping approximately 66% of the total BAND supply staked. As of early 2026, the total supply is approximately 149 million BAND[\\[10\\]](#cite-id-BKT17IQ80U0jscgp).\n\nThe initial token allocation was distributed as follows[\\[10\\]](#cite-id-BKT17IQ80U0jscgp):\n\n* Ecosystem Development: 25.63%\n* [Foundation](https://iq.wiki/wiki/foundation): 22%\n* Team: 20%\n* Public (Launchpad) Sale: 12.37%\n* Seed Sale: 10%\n* Advisors: 5%\n* Private Sale: 5%\n\n# Partnerships\n\nBand Protocol has established a wide-ranging ecosystem with over 80 partners and clients, providing oracle data for numerous projects across more than 40 blockchain networks[\\[8\\]](#cite-id-BooiBT7HRV0qOOHp). It provides data for major exchanges, including [Binance](https://iq.wiki/wiki/binance), [Coinbase](https://iq.wiki/wiki/coinbase), and Uniswap[\\[10\\]](#cite-id-BKT17IQ80U0jscgp).\n\nKey collaborations include an integration with the [ICON](https://iq.wiki/wiki/icon) Network to provide customized oracles for its DApps, with both projects operating validator nodes on each other's networks[\\[5\\]](#cite-id-hkoj1fguryp). In 2020, [Binance](https://iq.wiki/wiki/binance) Smart Chain also integrated Band Protocol's oracle network to connect its smart contracts with real-world data.\n\nOther notable partnerships include collaborations with Elrond (now [MultiversX](https://iq.wiki/wiki/multiversx)) to fetch off-chain data feeds and with Brave New Coin to bring institutional-grade price data for over 1,500 digital assets onto BandChain[\\[4\\]](#cite-id-zqj9x8vbeda).\n\n# Team\n\nBand Protocol is led by its co-founders[\\[10\\]](#cite-id-BKT17IQ80U0jscgp):\n\n* **Soravis Srinawakoon (Co-founder and CEO):** A Stanford University graduate who previously worked at Boston Consulting Group. He was featured in the 2019 Forbes 30 under 30 list.\n* **Sorawit Suriyakarn (Co-founder and CTO):** A Massachusetts Institute of Technology graduate who previously worked at Hudson [River](https://iq.wiki/wiki/river) Trading, Quora, and Dropbox.\n* **Paul Nattapatsiri (Co-founder and CPO):** He previously worked at Tripadvisor and Turfmapp and has created crypto games that have reached over 800,000 users since 2013.\n\n# Investors\n\nBand Protocol's investors include[\\[9\\]](#cite-id-vR1XW26tLMhwsfQs):\n\n* Sequoia Capital\n* [Dunamu](https://iq.wiki/wiki/dunamu) & Partners\n* [Binance](https://beta.everipedia.org/wiki/binance)\n* Spartan Group\n* SeaX Ventures\n* Woodstock\n* Alphain Ventures","summary":"Band Protocol is a cross-chain data oracle platform that serves as a unified data layer for AI and Web3 applications, connecting real-world data to smart contracts.","images":[{"id":"QmaB8kRbajn559qUGHtzn7PQxakFuf3pWcumMMynFESb7z","type":"image/jpeg, 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Coinmarketcap\",\"timestamp\":1658935845049},{\"id\":\"fss9j4w91k8\",\"url\":\"https://dailyhodl.com/2020/08/08/band-protocol-surges-377-in-one-month-as-five-crypto-assets-launched-on-binance-witness-exponential-growth/\",\"description\":\"Band Protocol Surges 377% in One Month As Five Crypto Assets\",\"timestamp\":1658935927849},{\"id\":\"i4yqnsvwhel\",\"url\":\"https://cryptoslate.com/band-protocol-secures-major-oracle-integration-band-price-rockets-to-new-highs/\",\"description\":\"Band Protocol secures major oracle integration\",\"timestamp\":1658935978614},{\"id\":\"zqj9x8vbeda\",\"url\":\"https://www.globenewswire.com/news-release/2020/11/23/2131636/0/en/Band-Protocol-Partners-with-Digital-Asset-Data-Company-Brave-New-Coin-to-Bring-Decentralized-Price-Reference-Data-to-DeFi.html\",\"description\":\"Band Protocol Partners with Digital Asset Data Company Brave\",\"timestamp\":1658936429459},{\"id\":\"hkoj1fguryp\",\"url\":\"https://www.hedgeweek.com/2020/11/18/292337/icon-blockchain-signs-long-term-deal-band-protocol-support-data-driven-dapps\",\"description\":\"ICON blockchain signs long-term deal with Band Protocol\",\"timestamp\":1658936457010},{\"id\":\"kOAaAjMyCyXkjTG4\",\"url\":\"https://www.bandprotocol.com/company\",\"description\":\"Band Protocol Company Vision\",\"timestamp\":1775176706693},{\"id\":\"VO4BnsA3fdyH3qZI\",\"url\":\"https://support.binance.us/en/articles/9843862-all-about-band-protocol-band\",\"description\":\"All About Band Protocol (BAND)\",\"timestamp\":1775176706693},{\"id\":\"BooiBT7HRV0qOOHp\",\"url\":\"https://www.bandprotocol.com/\",\"description\":\"Band Protocol Official Website\",\"timestamp\":1775176706693},{\"id\":\"vR1XW26tLMhwsfQs\",\"url\":\"https://www.kraken.com/learn/what-is-band-protocol\",\"description\":\"What is Band Protocol on Kraken\",\"timestamp\":1775176706693},{\"id\":\"BKT17IQ80U0jscgp\",\"url\":\"https://beincrypto.com/learn/band-protocol/\",\"description\":\"Band Protocol Explained by BeInCrypto\",\"timestamp\":1775176706693}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmVKmDj7C1GrWTqNKNKick6SbwrC9gcQziTuTsnZHednFX\""},{"id":"commit-message","value":"\"Removed content and profile data.\""},{"id":"previous_cid","value":"QmVKmDj7C1GrWTqNKNKick6SbwrC9gcQziTuTsnZHednFX"}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x7da121Af2c3Fc2e65eDCD3573a403C352B4538Aa"},"operator":{"id":"0x1E23b34d3106F0C1c74D17f2Cd0F65cdb039b138"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum"],"founders":[],"speakers":[]},"recentActivity":"{\"items\":[{\"id\":\"9a4199a8-efd8-49c6-bf09-c0d397e4e023\",\"title\":\"Band Protocol\",\"description\":\"Band Protocol is a cross-chain data oracle platform that serves as a unified data layer for AI and Web3 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contracts.'\"]},{\"title\":\"Introduction\",\"subtitle\":\"The introduction was rewritten to be more current and comprehensive.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"The introductory paragraph was updated to position Band Protocol as a unified data layer for AI and Web3 applications and now includes current network statistics such as total value secured, blockchain support, and validator count [[6]](#cite-id-kOAaAjMyCyXkjTG4)[[7]](#cite-id-VO4BnsA3fdyH3qZI)[[8]](#cite-id-BooiBT7HRV0qOOHp).\"]},{\"title\":\"Overview\",\"subtitle\":\"The 'Overview' section was condensed and updated.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Streamlined the section by removing a sentence about a past token all-time high and added new citations [[2]](#cite-id-fss9j4w91k8)[[3]](#cite-id-i4yqnsvwhel)[[9]](#cite-id-vR1XW26tLMhwsfQs).\"]},{\"title\":\"History and Development\",\"subtitle\":\"A new section was added detailing the protocol's history and development roadmap.\",\"variant\":\"added\",\"changeCount\":2,\"changes\":[\"Added information about the protocol's founding in 2017, its initial launch on Ethereum, subsequent fundraising rounds, and migration to its own BandChain blockchain [[10]](#cite-id-BKT17IQ80U0jscgp)[[9]](#cite-id-vR1XW26tLMhwsfQs).\",\"Outlined the multi-phase development structure of BandChain, including Phase 0 (Wenchang), Phase 1 (GuanYu), Phase 2 (Laozi), and Phase 3 (Confucius) [[10]](#cite-id-BKT17IQ80U0jscgp).\"]},{\"title\":\"Technology\",\"subtitle\":\"A new section was added describing the technical architecture of BandChain.\",\"variant\":\"added\",\"changeCount\":1,\"changes\":[\"Added details on BandChain's architecture, which is built on the Cosmos SDK and uses a Delegated Proof-of-Stake (DPoS) consensus mechanism with 100 validators, enabling high performance and cross-chain data queries [[7]](#cite-id-VO4BnsA3fdyH3qZI)[[9]](#cite-id-vR1XW26tLMhwsfQs).\"]},{\"title\":\"Products\",\"subtitle\":\"A new section was added to outline Band Protocol's core product offerings.\",\"variant\":\"added\",\"changeCount\":1,\"changes\":[\"Introduced the core products: Data Feed for financial data, Verifiable Randomness Function (VRF) for gaming and NFTs, and Membit for AI applications [[8]](#cite-id-BooiBT7HRV0qOOHp).\"]},{\"title\":\"BAND Token\",\"subtitle\":\"The 'BAND Token' section was rewritten with updated tokenomics and allocation details.\",\"variant\":\"modified\",\"changeCount\":3,\"changes\":[\"Removed outdated information on token sales and circulation, replacing it with current utilities such as staking, governance, and network fees [[1]](#cite-id-3ecbch1ij89)[[7]](#cite-id-VO4BnsA3fdyH3qZI)[[10]](#cite-id-BKT17IQ80U0jscgp).\",\"Added information on the token's inflationary model, designed to incentivize staking, and an updated total supply figure [[10]](#cite-id-BKT17IQ80U0jscgp).\",\"Provided an updated breakdown of the initial token allocation percentages for the ecosystem, foundation, team, and sales [[10]](#cite-id-BKT17IQ80U0jscgp).\"]},{\"title\":\"Partnerships\",\"subtitle\":\"The 'Partnerships' section was updated to summarize the ecosystem instead of listing chronological announcements.\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Rewrote the section to provide a summary of the ecosystem, including over 80 partners, support for 40+ blockchains, and data provision for major exchanges [[8]](#cite-id-BooiBT7HRV0qOOHp)[[10]](#cite-id-BKT17IQ80U0jscgp).\",\"Summarized key collaborations with ICON, Binance Smart Chain, Elrond (now MultiversX), and Brave New Coin [[5]](#cite-id-hkoj1fguryp)[[4]](#cite-id-zqj9x8vbeda).\"]},{\"title\":\"Team\",\"subtitle\":\"A co-founder's title was updated.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Updated Soravis Srinawakoon's title from 'Co-founder and CTO' to 'Co-founder and CEO' [[10]](#cite-id-BKT17IQ80U0jscgp).\"]},{\"title\":\"Investors\",\"subtitle\":\"The list of investors was updated.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"The list of investors was updated with new links and a citation [[9]](#cite-id-vR1XW26tLMhwsfQs).\"]},{\"title\":\"Linked Wikis\",\"subtitle\":\"A blockchain was added to the linked wikis.\",\"variant\":\"added\",\"changeCount\":1,\"changes\":[\"Added 'ethereum' to the list of linked blockchains.\"]},{\"title\":\"References\",\"subtitle\":\"The list of references was significantly updated with new sources.\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Removed 15 old references.\",\"Added 5 new references corresponding to the updated content.\"]}]}]}"}