Exploring Financial Dataset Integration through Data Governance Portal and Developer Portal

Welcome to Band Protocol’s guide to integrate off-chain data to your smart contract. Here you will learn how to use Band Protocol’s curated dataset to power your decentralized applications.

Why use Band Protocol as Data Oracle ?

Band Protocol is a network of independent data providers incentivized through token economic. By utilizing Band Protocol, you are not relying on a fixed set of data providers that can act maliciously without economic downside. Furthermore, Band Protocol’s query interface is intuitive and developer friendly. In this tutorial, you will just see how simple it is to obtain off-chain data for your dApps (hint: very similar to a function call).

Getting Started

Head over to https://app.kovan.bandprotocol.com. There you will find the most up-to-date version of Band Protocol’s testnet network with all dataset groups available on the network.

Explore Financial Datasets on Band Protocol

In this tutorial, we will focus on Financial Data Feeds dataset governance group. Click “Explore Data” button on the financial data card to go to explore dataset available inside the financial data governance group. You will go to the page that show available data inside the current dataset.

To see historical changes of price data, click on the “Dataset” tab. It will expand into the price movement graph, and the individual data point reported by each data provider. Notice that the median among all the values is chosen as the final result.

Historical data points of BTC-USD spot trading price on Band Protocol

Read through Developer Documentation

Next, let’s go through the developer documentation to learn how you can integrate datasets inside of Band Protocol to your decentralized applications. Start by clicking on “Connect with Band Protocol” tab, which will explain you how to setup a new Solidity project that can talk with Band Protocol.

Continue to “Query Data from Dataset Contract” tab to see an in-action implementation example of how to query for ETH-USE spot price data on Kovan testnet.

Lastly, the “Available Dataset” tab contains the formal specification of the dataset, including:

1) addresses of smart contracts related to the dataset

2) the specific format of data keys

3) how to decode value obtained from data query. Different datasets may have different methodology to encode keys and decode values, so be careful of that!

Conclusion

In this article, we have demonstrated how you can explore the datasets available on Band Protocol through the Data Governance Portal and Developer Portal. We further went though instructions on how to integrate those data into your smart contracts. In the next article, we will go into detail on how you can use Band Protocol financial data to create more a secure and decentralized finance application on Ethereum. Stay tuned!

Keep buidling,

Sorawit Suriyakarn, CTO Band Protocol