API3 provides a decentralized API network that allows data providers to operate as their own blockchain oracles, enabling direct access to data feeds without third-party intermediaries. This approach enhances the reliability and transparency of data for decentralized applications, minimizing the risk of exploits associated with data bridging.
Funding
$7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Decentralized applications (dApps) require reliable and transparent data feeds to function correctly, but often rely on third-party intermediaries, introducing potential vulnerabilities and compromising data integrity. Bridging data across different blockchains can also expose dApps to exploits.
Solution
API3 provides decentralized APIs (dAPIs) that enable data providers to operate their own oracles, delivering data directly to blockchains without intermediaries. This approach enhances the reliability, transparency, and security of data feeds for dApps. API3's dAPI aggregation contracts reside on the same chain as the consumer dApp, eliminating the need for data bridging and minimizing the risk of bridge exploits. The platform offers native-chain aggregated price reference data feeds for various assets across numerous networks.
Target Audience
API3 targets Web3 developers who prioritize security, transparency, and accuracy in their data feeds, as well as data providers looking to connect their data to decentralized applications.
Features
- dAPIs: Data feeds sourced directly from providers, eliminating intermediaries.
- Native-chain aggregation: dAPI contracts reside on the same chain as the consumer dApp, avoiding data bridging.
- Airnode: A Web3 API gateway enabling API providers to connect their data to blockchains.
- ChainAPI: A no-code tool for API providers to self-deploy an Airnode.
- Quantum Random Number Generator (QRNG): A free, quantum mechanics-derived random number generator for smart contracts.
- OEV Network: Enables earning rewards for DeFi projects.