Band Protocol Collaborates with bZx to Implement Price Feed Oracles for Lending and Margin Trading Kevin Lu Follow Mar 10 · 3 min read

Over the past month, the Band Protocol team has been working closely with bZx Team to create a robust price feed for lending and margin trading. The updated price feed will detect anomalies while also accounts for slippage and liquidity through time-weighted price information.

Kyle & Tom from bZx has been extremely responsive in prioritizing the security and safety of user funds. Since the incident, bZx and Band Protocol team have gone through multiple technical discussions to mitigate the bZx oracle vulnerability and define a new oracle design for decentralized finance protocols to use reliably and securely in the near future.

“We understand that no source is infallible and that there is value in diversifying the risk across multiple oracle providers rather than relying on one.” Kyle Kistner — CVO & Operations Lead at bZx

The blockchain and therefore, oracle space, is still an emerging area with few incidents where there have been failures due to human errors, malicious attacks or code bugs.

Hence, our solution involves migrating away from bZx’s previous DEX price feed and utilizing Band Protocol + Chainlink oracles to cover an extensive surface area of risk to optimize protocol security and prioritize user safety. This will be implemented in phase 1 as outlined in bZx’s full public release here: