As a crypto investor with experience in the DeFi space, I’m thrilled to see API3 hit the $1 billion TVS milestone. This impressive feat represents not only a tenfold increase within just 100 days but also underscores API3’s growing role as a leader in the oracle landscape.
I’m excited to report that API3 has achieved a significant milestone, surpassing the $1 billion mark in Total Value Secured (TVS). This represents a remarkable tenfold increase over the past 100 days.
One possible paraphrase for “TVS measures the total value secured by a platform or protocol, primarily in the crypto or decentralized finance realm, signifying the strength and popularity of blockchain networks and DeFi platforms.”
Based on the X article, API3’s oracle offerings safeguard the funds of twenty different protocols. Among these, PAC Finance from Blast’s DeFi initiative holds a significant share of 52.1%.
We’ve taken off to a $1 billion TVL (Total Value Locked) mark. 🎉
This represents a tenfold increase in under 100 days.
API3 is revolutionizing the oracle sector through our developer-centric strategy.
Our homegrown oracle infrastructure, designed for a rollup-focused future, offers effortless scalability to new chains.
— API3 (@API3DAO) May 22, 2024
As a crypto investor, I’d explain it this way: Oracles act as bridges between blockchains and the real world, enabling smart contracts to operate using up-to-date information. The API3 oracle solution is designed specifically for developers, providing them with user-friendly tools, open access without needing permission, and the ability to avoid making any code modifications or setting up extra infrastructure.
The API3 oracle stack is tailored for developers’ convenience. It offers uncomplicated tools, permission-free access, the absence of coding modifications, and no necessity for additional infrastructure. According to API3’s perspective, developers have the freedom to explore any data field and initiate development right away.
As a researcher, I’ve observed an intriguing development regarding API3’s token. In February, after being listed on Bitget, the token experienced a significant surge, with its value increasing by approximately 70%. At that point, the market capitalization surpassed $347 million. This event took place just a month after Bitget announced its support for the API3 token. Currently, I see the token trading around $2.94, representing a gain of over 13.45% within the past month. However, it’s important to note that the market capitalization has dropped since then, now standing at approximately $252 million as of this writing.
As a data analyst specializing in blockchain technology, I can tell you that API3 is dedicated to facilitating the development and commercialization of expansive decentralized APIs (dAPIs). The significance of this goal becomes increasingly evident as the influence of blockchain technology expands into sectors such as supply chain management and decentralized finance.
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2024-05-23 12:52