As a seasoned crypto investor with a keen eye for promising projects, I find myself drawn to API3’s latest unveiling. With my years of experience in this ever-evolving market, I can confidently say that API3’s focus on improving the infrastructure behind DeFi is not just a trend, but a crucial step towards sustainable growth and better performance for developers.
API3 introduces the next phase of tools aimed at enhancing the speed, efficiency, and eco-friendliness of decentralized finance.
As an analyst, I’m highlighting that API3 is strategically enhancing the underlying infrastructure of Decentralized Finance (DeFi) for sustained growth and superior performance for developers. Their latest technology is geared towards optimizing how DeFi protocols access real-world data, as outlined in a press release we’ve received and shared with crypto.news.
As the DeFi sector continues to expand at a rapid pace, API3 (API3) aims to enhance and optimize data feeds, making them more beneficial and user-friendly for developers.
In the world of Decentralized Finance (DeFi), oracles play a vital role as they transfer essential information such as pricing details onto blockchain networks. Yet, conventional oracle services are primarily concerned with data delivery, opening up opportunities for enhancement and optimization.
API3’s latest Oracle Stack alleviates this issue by incorporating additional functionalities, such as recovering value lost due to MEV (Miner Extractable Value), which is a frequent challenge in Decentralized Finance (DeFi) transactions.
Last month, API3 revealed that it had exceeded $1 billion in Total Value Secured, representing a staggering tenfold increase over the previous 100 days. The platform’s oracle services have been securing assets across twenty different protocols, with PAC Finance contributing more than half of the total value.
In February, the API3 token experienced a significant 70% increase after being listed on Bitget. However, its market capitalization subsequently decreased to approximately $252 million.
The Oracle Stack
As per Ugur Mersinlioglu, API3’s Strategy Lead, this innovative approach empowers developers to acquire essential data more efficiently while recuperating the value that typically gets dissipated during data processing. By incorporating API3’s oracle, developers can enhance their protocol’s efficiency, stimulate growth, and lower fees.
The Oracle Stack has been engineered to function seamlessly across numerous blockchain ecosystems, providing developers with a hassle-free experience when incorporating it into diverse development environments.
Through more than 160 data sources spread over 37 networks, API3 strives to equip Decentralized Finance (DeFi) protocols with the resources necessary to stay ahead of the competition. Moreover, API3 provides a useful instrument for developers to migrate from other oracle services such as Chainlink, towards their platform.
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2024-09-06 16:39