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logoAPI3 (API3)

A Data Oracle that Enables APIs to Feed Data to Blockchain Applications Directly.

  • API3 is a data oracle that enables APIs to feed data to blockchain applications directly without third-party middlemen.

  • API3 is the native token of the project. The current use cases for API3 include:

    • Insurance Staking Pool: API3 stakers provide oracle users security insurance by covering potential financial losses that occur from the malfunctioning oracle. Stakers will be able to earn staking rewards paid in API3 tokens.
    • Governance: API3 holders can propose and vote on governance proposals.

  • The project consists of the following major components working in conjunction:

    • Beacons: Light-weight, first-party data feeds that reduce cost and scale data access for Web3.
    • Airnode: A Web3 middleware that connects Web APIs directly to smart contracts.

  • As at January 21st 2022, the total token supply of API3 is 110,011,260. The current circulating supply is 46,507,187 (~42.27% of the total token supply).

  • Learn more about the token distribution of API3 here.