API3 /API3

What is API3 (API3)? 

API3 is a decentralized oracle project designed to provide real-time, high-quality data directly from application programming interfaces (APIs) to decentralized applications (dApps) and smart contracts. API3 aims to address the challenges associated with traditional oracle networks by offering decentralized APIs (dAPIs) that connect data providers and blockchain applications without the need for intermediary nodes. By doing so, API3 enhances data transparency, security, and reliability, making blockchain-based applications safer and more efficient.

Founded in 2019, API3 originated from its predecessor CLG, which worked on creating the Honeycomb marketplace — a platform that connected API providers, oracle node operators, and dApp developers. The success of Honeycomb helped shape API3's evolution into an API-centric solution. The mainnet launch and the token were unveiled in December 2020, solidifying its role as a key player in the Web3 ecosystem.

Key Features

• dAPIs (Decentralized APIs): API3 offers decentralized APIs that allow direct interaction between dApps and data sources, ensuring reliability and transparency without intermediary nodes.

• Airnode: A serverless oracle node that enables API providers to turn their APIs into dAPIs, decentralizing data feeds directly at the source.

• DAO Governance: API3 operates through a decentralized autonomous organization (DAO), where token holders can participate in decision-making processes related to the ecosystem.

• Data Feed Security: API3 implements decentralized control and cryptographic signatures to enhance the security of data feeds, ensuring the integrity and authenticity of data.

• Staking and Rewards: API3 token holders can stake their tokens into an insurance pool, participating in governance and earning rewards.

How Does API3 Work?

API3 enables blockchain applications to access off-chain, real-world data via decentralized APIs. By removing intermediaries from the process, API3 ensures that data provided to dApps is reliable, transparent, and directly from the source. The protocol uses Airnode, a decentralized middleware solution that allows API providers to serve data feeds directly to the blockchain without relying on third-party nodes.

API3 is governed by its DAO, where stakeholders make decisions regarding the future development of the project. The token itself plays an integral role in staking, governance, and securing the data feeds that are made available through the platform.

What is API3 Token?

The API3 token serves as the native token for the API3 ecosystem. It allows token holders to participate in the governance of the project via the DAO, vote on protocol changes, and stake tokens into an insurance pool to secure data feeds. Additionally, token holders receive staking rewards on a weekly basis, further incentivizing participation in the ecosystem.

The API3 token went live in December 2020 following a successful token sale, and it continues to play a key role in securing the platform's decentralized oracle services and facilitating decentralized decision-making through its DAO.

History and Founders of API3

API3 was co-founded by Heikki Vanttinen, Burak Benligiray, and Saša Milić.

• Heikki Vanttinen previously served as the CEO of CLC Group, a blockchain lab focused on real-world smart contract solutions. He is also known for his marketing work at Zippie, a mobile operating system aimed at mainstreaming blockchain technology.

• Burak Benligiray served as the CTO at CLC Group, bringing technical expertise to the development of API3.

• Saša Milić has a strong background in academia and software engineering, having worked for Facebook and as a simulation data scientist at Gauntlet.

API3 was officially launched in 2020, and its mainnet went live shortly after the successful token sale.

API3’s solution to the Blockchain Oracle Problem offers a decentralized alternative to traditional third-party oracle models, improving security, transparency, and data reliability for smart contract and dApp developers.

Where to Buy API3 Token? 

You can buy API3 token on several popular exchanges, including Binance, Kraken, OKX, MEXC, Gate.io, and Coinbase Exchange. Other platforms such as BitMart, Hotcoin, DigiFinex, Bit2Me, Gemini, and Bittrex also offer API3/USDT pairs. For decentralized options, you can use Uniswap V2 and V3 (Ethereum). Other exchanges like WhiteBIT, CEX.IO, Phemex, and KuCoin support API3/USDT, making it easy to purchase across multiple platforms. Be sure to check each platform's fees and trading volume before proceeding.

Which Wallets Support API3 Coin? 

API3 can be stored in various popular wallets that offer strong security and user-friendly features. Some of the best options include Trust Wallet, Ledger, imToken, MetaMask, and Coinbase Wallet. Other notable wallets that support API3 are SafePal, TokenPocket, and iToken Wallet. Depending on your needs, you can choose a wallet with features such as dApp support, hardware security, or easy integration with decentralized finance platforms.