BAND Protocol: Common Questions
BAND is the native currency of the Band Protocol platform. It was initially launched as a token based on the Ethereum network but has since become a coin running on its own blockchain (BandChain). You can use Atomic Wallet for both.
In future, BAND holders will be able to vote on protocol governance updates and direct the course of the network's development.
Atomic Wallet & BAND: A Brief Overview
Swap. You can buy BAND for crypto in the Swap tab in our app. As of now, it's not possible to sell your BAND for crypto, since the asset isn't supported by our swap partners. Stay tuned for updates!
Buy crypto. BAND is unavailable for fiat purchases at this time.
Staking. We're offering our own staking pool for BAND; check the Staking tab in the app & our BAND staking guide here for more details.
Why are there two BAND assets listed in the app?
After being initially launched as an ERC-20 token based on the Ethereum blockchain, BAND was later migrated to its own chain. Both the ERC-20 token and the mainnet coin can be stored in our wallet, and it's easy to tell them apart going just by the icon.
How are the two assets different?
- The mainnet BAND coin has its own address starting with 'band,' whereas the ERC-20 token is using your ETH address (which should start with '0x').
- Only the mainnet BAND coin can be staked.
- The mainnet BAND coin is currently unavailable for trade with our swap partners. Please transfer your BAND to any exchange that supports the coin if you want to trade it.
How do I swap my ERC-20 BAND token for the mainnet BAND coin?
You can trade your Ethereum-based BAND token for the BAND coin with our partners over at ChangeNow. Please note that you'll need to have some ETH on your balance to pay the network fees for the exchange. The fees are charged by the Ethereum blockchain, so you'll need to pay these no matter which exchange or wallet you're using.
- Go to our partners' website.
- Enter the BAND amount you want to swap.
- Enter your mainnet BAND address (it should start with "band"). Double-check it before proceeding!
If you don't know your address, just open your Atomic Wallet app, choose BAND from the coin list, and select Receive. Your BAND address will be right there.
Select Confirm to initiate the exchange.
You'll now see the deposit address. Just open your Atomic Wallet app and transfer the exchange amount to this address. Make sure to double-check it as well before sending your transaction out.
Once the system is done processing your ERC-20 BAND deposit, it'll send you your BAND coins. This can usually take up to 10 minutes.
How do I swap my mainnet BAND coin for the ERC-20 BAND token?
Since the mainnet BAND coin isn't supported by our swap partners as of now, this will be a bit trickier than the vice versa trade. For step-by-step instructions on how to swap your BAND coin for the ERC-20 token, check the official guide here.
Why can't I stake my BAND?
The ERC-20 BAND token isn't available for staking, so please make sure you're trying to stake the mainnet coin. You can always convert your BAND tokens to coins in the Swap tab on the left sidebar.
Why can't I claim my BAND staking rewards/unstake my BAND?
Claiming and unstaking are both transactions on the blockchain. Any transaction has to be processed by validators to get confirmed. For them to do so, you'll have to pay a network fee. The blockchain can only charge the fee from your available balance, not the staked deposit. Just top-up your BAND balance to be able to claim your rewards or unstake your coins.