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5/ We are also working closely with the @InjectiveLabs team to increase the resilience of the reporting mechanism as well as adding other long-term solutions to further improve the robustness of the price feeds.

4/ With this recent incident, we have reevaluated our strategy for stablecoins and have already integrated additional price feed sources natively from CEXs such as Bitfinex, Kraken, FTX, Coinbase Pro.

3/ Historically, using stablecoin prices from aggregators who have volume-weighted prices from various CEXs with reliable track records proved to be robust, and we estimated that using 4 aggregator sources should’ve provided enough resilience against irregular reporting.

2/ Under normal scenarios, price feeds are safeguarded against anomalies, as the median calculation uses 3-5 distinct data sources. However, because 2 of the 4 USDT sources were incorrect, the system reported the average of the two middle prices, which was still incorrect.

1/ Around 21:51 UTC today, price aggregators including CoinMarketCap and BraveNewCoin reported highly irregular prices for all assets. While most price feeds were unaffected due to the medianizing mechanism in place, the USDT price reported via IBC was temporarily affected.

Per @bravenewcoin @CoinMarketCap reporting irregular prices: the Band Oracle did not feed those prices via regular feeder operation. Price feeds to ETH, BSC, Mirror, Fantom, and others are secured. However, IBC-oracle user @InjectiveLabs is affected. More details to follow.https://twitter.com/CoinMarketCap/status/1470920136974823425 …

100,000 requests through IBC going as smooth as it can get with @InjectiveLabs! With more DApps looking to proliferate to the different ecosystems, we are more than ready to support https://twitter.com/InjectiveLabs/status/1468670472212693001 …

With BandChain’s scalable design, Sienna can rely on fast data requests, fast addition of new asset markets, and ability to scale beyond #SecretNetwork easily with the same data solution structure.

#Sienna Network chooses to work with $Band protocol because Reliable data is a crucial factor for building a robust crypto lending platform.

With the strong incentive program for developers to build, we expect to see a growing number of Band Protocol Oracle requests from developers building on QANplatform

QANplatform is the first Layer 1 blockchain that rewards developers after each new smart-contract deployment and each public blockchain transaction for a lifetime where their code part is getting reused by other developers.

With $Band Protocol’s Oracle solution, developers building on QANplatform will be able to connect their quantum-resistant smart contracts with the largest collection of data feeds which includes 230+ feeds from foreign exchange, stocks, commodities, and more.

As the Oasis ecosystem expects rapid growth in early 2022, we plan to develop strategic partnerships with the new protocols to bring secure, decentralized, time-tested data feeds and fuel innovations in the space.

The Band Standard Dataset will give the ecosystem access to more than 230 price feeds - the largest data feed collections in the industry. Developers on OasisProtocol will be able to build fundamental layers of DeFi applications such as dexes & lending markets, and more.