The month of September 2021 marked a pivotal turning point for Band Protocol, highlighted by two major milestones: the successful mainnet launch of BandChain Phase 2: Laozi and the network surpassing 10 million oracle requests. These achievements reflect both technical maturity and growing ecosystem adoption, setting the stage for expanded functionality and broader cross-chain integration.
With a stable foundation now in place, Band Protocol is accelerating its roadmap—enabling new features such as Inter-Blockchain Communication (IBC) oracles, on-chain revenue models for data providers, and future support for Verifiable Random Functions (VRF). The upgrade wasn’t just technical—it was a community-driven effort involving validators, developers, partners, and integrators who helped ensure a seamless transition into this next phase.
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Successful Launch of BandChain Phase 2: Laozi
On September 23, the BandChain Laozi mainnet went live with the genesis block mined, marking the official start of Phase 2. Over 60 validators actively participated in securing the network during migration from the previous GuanYu version. The chain was paused for a planned three-hour maintenance window and resumed operations at 12:00 PM UTC, with no disruptions reported.
This smooth transition underscores the resilience and coordination within the Band ecosystem. Validators, exchanges, wallet providers, and community members collaborated closely to ensure compatibility and continuity across services.
Laozi introduces foundational upgrades that position BandChain as a scalable, interoperable oracle platform. Built on Cosmos SDK v0.44.0 and IBC-Go v1.1.0, the updated architecture enables native cross-chain data transmission via IBC—a critical step toward seamless multi-chain connectivity.
Technical Advancements and Network Growth
BandChain’s reliability and performance continue to gain traction. On September 1, the network processed its 10 millionth oracle request, a testament to sustained demand and trust in Band’s decentralized data infrastructure. This milestone reflects consistent usage across DeFi platforms, gaming dApps, and prediction markets relying on accurate, tamper-proof external data.
To prepare for the Laozi launch, the engineering team released BandChain v2.3.0, which included essential protocol upgrades and compatibility enhancements. Following extensive testing on Laozi Testnet 4, this version was confirmed as the final candidate for mainnet deployment.
Post-migration, an official governance proposal was submitted to activate the IBC oracle module (BCIP-4). Once approved, IBC-compatible blockchains will be able to directly request data from BandChain and receive verified results through standardized inter-chain packets—eliminating reliance on third-party relays and increasing security.
Validators interested in participating in network security can find detailed setup instructions in the official documentation.
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Enhancements to CosmoScan Block Explorer
User experience improvements extended beyond the core protocol. The CosmoScan block explorer received key updates to support Laozi’s new capabilities:
- Full display of IBC message types, enabling transparent tracking of cross-chain data requests.
- Visibility into datasource revenue accumulation, a core component of the upcoming on-chain monetization model for data providers.
- Backend integration with BandChain.js via GRPC, streamlining transaction broadcasting and improving frontend responsiveness.
- Support for weight vote visualization, previously only accessible through command-line tools like
_bandd_.
These changes not only improve transparency but also empower developers and node operators with better debugging and monitoring tools—critical for maintaining trust and usability in a decentralized environment.
Strategic Partnerships Driving Adoption
Integration with Boba Network
Band Protocol has partnered with Boba Network (formerly OmiseGOx), an EVM-compatible Layer 2 Optimistic Rollup platform developed by Enya.ai. This collaboration brings secure, decentralized oracle services to Boba’s scalable Ethereum extension, enhancing trust and functionality for dApps built on its infrastructure.
Boba enables developers to execute complex computations off-chain—such as machine learning algorithms or high-frequency data processing—using web-scale resources like AWS Lambda. By integrating Band Protocol’s oracles, Boba-based applications can now securely fetch real-world data without sacrificing decentralization.
Developers gain access to Band’s Standard Dataset, which includes over 230 price symbols spanning cryptocurrencies, forex pairs, and commodities. Data is available on-demand, allowing teams to implement precise pricing mechanisms tailored to their specific use cases.
This marks Band Protocol’s first integration with an optimistic rollup solution—an important step toward supporting diverse scaling architectures across the Ethereum ecosystem.
Developer Outreach Through NEAR’s MetaBUIDL Hackathon
Band Protocol reinforced its commitment to developer empowerment by co-sponsoring MetaBUIDL, a hackathon series hosted by partner NEAR Protocol. With over $1 million in prizes, the event attracted hundreds of builders building innovative dApps across DeFi, NFTs, and web3 infrastructure.
Participants leveraged BandChain’s oracle solution to create custom data pipelines connecting smart contracts to external APIs—demonstrating the flexibility and ease of integration offered by Band’s SDKs and pre-built data feeds.
The initiative not only expanded awareness within the NEAR developer community but also fostered long-term engagement. Band Protocol plans to maintain active involvement in future developer programs, ensuring continuous feedback loops and ecosystem growth.
Looking Ahead: The Roadmap Beyond Laozi
With Phase 2 now live and stable, Band Protocol is poised to roll out a series of high-impact features:
- IBC Oracle Activation: Native cross-chain data queries between Cosmos-based chains and beyond.
- On-Chain Revenue Model: Incentivizing data providers through transparent, automated fee distribution.
- Verifiable Random Function (VRF): Enabling provably fair randomness for gaming and NFT projects.
- Expanded Data Coverage: Adding more assets and non-financial data sources to meet rising demand.
The final quarter of 2021 is expected to see accelerated integrations across multiple ecosystems—from Layer 1 blockchains to Layer 2 solutions—driving further adoption of Band’s cross-chain oracle infrastructure.
Frequently Asked Questions (FAQ)
Q: What is BandChain Phase 2: Laozi?
A: Laozi is the second major upgrade to BandChain, introducing critical upgrades like IBC compatibility, improved scalability, and support for advanced oracle functionalities such as on-chain revenue sharing and VRF.
Q: Why is crossing 10 million oracle requests significant?
A: It demonstrates real-world usage and trust in Band Protocol’s infrastructure. Reaching this milestone without incidents highlights system reliability and growing demand from dApp developers.
Q: How does IBC enhance BandChain’s capabilities?
A: IBC allows BandChain to natively communicate with other blockchains in the Cosmos ecosystem (and beyond), enabling direct, secure data transfers without intermediaries—boosting efficiency and decentralization.
Q: Can any blockchain integrate with Band Protocol?
A: Yes. While IBC enables seamless integration with Cosmos-based chains, Band also supports integrations with non-IBC chains like Ethereum, BNB Chain, and Boba Network via custom bridges and relayers.
Q: What benefits do data providers get from on-chain revenue?
A: Data providers earn fees directly on-chain when their data sources are used in oracle requests. This creates a sustainable incentive model, promoting high-quality data curation and long-term participation.
Q: How can developers start using Band oracles?
A: Developers can access documentation, SDKs, and sample code on Band Protocol’s official resources. Pre-built data feeds from the Standard Dataset simplify integration for common use cases like price discovery.
Band Protocol continues to strengthen its position as a leading cross-chain oracle platform—combining technical innovation with strategic partnerships and developer-centric initiatives. As blockchain ecosystems grow more interconnected, reliable data infrastructure becomes increasingly vital. BandChain Phase 2 lays the groundwork for that future.
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