API3 unveiled a brand new technology of options designed to make decentralized finance sooner, extra environment friendly and extra sustainable.
API3 focuses on enhancing the infrastructure behind DeFi to make sure long-term progress and higher efficiency for builders. It’s introducing its newest expertise geared toward enhancing the way in which DeFi protocols entry real-world knowledge, in response to a press launch shared with crypto.information.
With DeFi rising quickly, API3 (API3) is working to make knowledge feeds extra environment friendly and priceless for builders.
Oracles are essential to DeFi as a result of they carry essential knowledge, corresponding to costs, to blockchains. Nonetheless, conventional oracle companies are primarily centered on delivering knowledge, leaving room for enchancment.
API3’s new Oracle Stack addresses this by including further options, together with recapturing worth misplaced via Miner Extractable Worth – a typical drawback in DeFi transactions.
In Could, API3 introduced it had surpassed $1 billion in Whole Worth Secured, marking a tenfold improve prior to now 100 days. The platform’s oracle companies secured property throughout twenty protocols, with PAC Finance accounting for greater than half of the overall.
In February, the API3 token noticed a 70% improve after itemizing on Bitget, though its market capitalization later fell to $252 million.
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The Oracle Stack
In line with API3’s Technique Lead, Ugur Mersinlioglu, this new resolution helps builders get the information they want and regain the worth misplaced throughout knowledge processing. By utilizing API3’s oracle, builders can enhance their protocol’s efficiency, drive progress, and cut back prices.
The Oracle Stack is designed to work throughout a number of blockchain networks, permitting builders to simply combine throughout platforms.
With greater than 160 knowledge feeds throughout 37 networks, API3 goals to supply DeFi protocols with the instruments they should keep aggressive. API3 additionally offers a software to assist builders transfer from different Oracle companies, corresponding to Chainlink, to the platform.
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