API3 unveiled a brand new technology of options designed to make decentralized finance sooner, extra environment friendly, and extra sustainable.
API3 is specializing in bettering the infrastructure behind DeFi to make sure long-term progress and higher efficiency for builders. It’s rolling out its newest expertise aimed toward bettering how DeFi protocols entry real-world information, in accordance with a press launch shared with crypto.information.
With DeFi rising quickly, API3 (API3) is working to make information feeds extra environment friendly and priceless for builders.
Oracles are essential to DeFi as a result of they convey essential information, like costs, onto blockchains. Nevertheless, conventional oracle providers primarily concentrate on delivering information, leaving room for enchancment.
API3’s new Oracle Stack addresses this by including additional options, together with recapturing worth misplaced as a consequence of Miner Extractable Worth — a typical downside in DeFi transactions.
In Might, API3 introduced it surpassed $1 billion in Whole Worth Secured, marking a tenfold improve over the previous 100 days. The platform’s oracle providers secured property throughout 20 protocols, with PAC Finance accounting for over half of the whole.
In February, the API3 token noticed a 70% surge following its itemizing on Bitget, although its market cap later dropped to $252 million.
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The Oracle Stack
Based on API3’s Technique Lead, Ugur Mersinlioglu, this new answer helps builders get the info they want and reclaim worth misplaced throughout information processing. Through the use of API3’s oracle, builders can increase their protocol’s efficiency, drive progress, and scale back charges.
The Oracle Stack is designed to work throughout a number of blockchain networks, making it simple for builders to combine into completely different platforms.
With over 160 information feeds throughout 37 networks, API3 goals to supply DeFi protocols with the instruments they should stay aggressive. API3 additionally presents a instrument to assist builders swap from different oracle providers, like Chainlink, to its platform.
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