Band Protocol has announced an expansion of its integration with the Stellar Ecosystem, aiming to pioneer Oracle services to facilitate dApp development and enhance interoperability for non-EVM L1s.

Describing this development as a significant milestone, Band Protocol highlights its role in enabling the development of dApps in DeFi and other Web3 applications.

While Band Protocol provides Oracle services, Stellar plans to utilize the capabilities of Soroban – Stellar Smart Contracts. Soroban will initially host the deployment of the Oracle Service, serving as an underlying engine to broaden the functionality of the Stellar Network and enable smart contract operations.

The Stellar Community Fund is currently supporting Band Protocol, focusing on establishing reliability and security for blockchain application development during the integration process.

Band Protocol's responsibilities include supporting the integration, providing assistance, and ensuring compatibility. As part of this, Band Protocol has officially joined the list of Oracle providers in the Soroban testnet and will leverage smart contract functionality to aid development. The integration design ensures compatibility with Stellar's unique non-EVM blockchain architecture.

The integration brings twofold benefits: enhancing security and reliability within the Stellar Smart Contract ecosystem and providing developers access to real-time and cross-chain data for innovative app development.

Looking ahead, Band Protocol aims to strengthen its presence in the Stellar ecosystem by expanding offerings and meeting rising demands beyond the EVM-compatible ecosystem and Stellar Smart Contract. This aligns with Band Protocol's commitment to evolving with the ecosystem's growth and needs.

Stellar chose Band Protocol due to its commitment to decentralization and an inclusive financial system, with more integrations expected in the future. While a mainnet launch timeline hasn't been shared, it's expected to demonstrate a unique integration approach compared to other chains.

Band Protocol has previously integrated with Chee Finance and the Desmos Network, focusing on bringing price feeds to the table with a long-term collaboration vision.

At the time of writing, BAND and XLM prices have increased by 3.76% and 0.66% respectively in the last 24 hours, with tokens listed at $2.51 and $0.1423.