According to official news, Band Protocol announced that it has deployed its oracle service on the testnet of Soroban (Stellar smart contract). The combination of Stellar smart contracts and Band Protocol’s oracle solutions paves the way for the development of decentralized applications on the Stellar network.
As the underlying engine for Stellar smart contracts, Soroban extends the capabilities of the Stellar network to run smart contracts, enabling developers to create decentralized finance and Web3 applications on the Stellar network. Stellar smart contracts provide developers with intuitive and simple tools to quickly set up projects and scale efficiently.
Earlier in February, Stellar announced that Protocol 20 and smart contracts were online on the mainnet. Stellar validators voted to upgrade the mainnet to Protocol 20, ushering in the era of Stellar smart contract technology stack. Stellar smart contract platform Soroban will be launched in phases and is currently in Phase 0.