Ares Protocol will provide Bandot with a random and verifiable price oracle service. This will be used in Bandot’s stablecoin exchange, unsecured lending system, and vAMM liquidity pool. Ares Protocol uses VRF-based random selection of Aggregators (or quotation nodes) to prevent node attacks and collusion, combined with the latest Optimistic Rollup data verification model to punish malicious Aggregators (or quotation nodes), which will bring unprecedented price data security to DeFi. This allows real-time synchronization of data and prices on the Bandot platform with external markets, bringing convenience to users and avoiding losses, which has played an important role in the development of the Bandot platform.
The Ares Protocol team is very appreciative of Bandot’s current unsecured lending services on Polkadot. It looks forward to the partnership with Bandot, and hopes to provide Bandot with more support and services in the future to better facilitate the development of the Polkadot ecosystem.
Bandot is Polkadot’s stablecoin unsecured lending system, building a new paradigm of liquidity aggregation platform. Bandot is an innovatively designed cross-chain DeFi aggregation platform to provide users with maximum asset liquidity and providing unprecedented convenience in lending and stablecoin exchanging.
About Ares Protocol
Ares protocol is the first decentralized cross-chain oracle service protocol in the Polkadot ecosystem. It is also the first new-generation protocol service protocol that implements verification on the data chain. Ares is the first to open up compensation channels for data users when they suffer business losses due to the use of oracle data.
As an infrastructure builder that connects the real world and the blockchain network, under the grand vision of the WEB3.0 era, it provides safe and reliable data services for multi-chain interconnection and the development of the digital economy.