API3 (API3)

API3 is a cryptocurrency with the ticker symbol API3. It is an integral part of the Web3 API economy, offering various solutions to enhance decentralized applications (dApps). One notable solution is the dAPIs, first-party price reference data feeds that enable dApps on multiple networks to access real-time asset price data, including cryptocurrency and forex prices. With over 100 price feeds on 10 networks, API3 strives to provide accurate and reliable data without intermediaries.

One of API3’s key offerings is Oracle Extractable Value (OEV), which aims to return Maximal Extractable Value (MEV) to dApps. MEV refers to hidden fees that blockchain users generate, often exceeding $1 billion in revenue. By incorporating OEV data feeds, API3 positions dApps to benefit from MEV opportunities and significantly impacts the expectations of oracles in Web3.

Additionally, API3 addresses the need for context-specific APIs and off-chain services in the Web3 ecosystem. Its middleware solution, Airnode, enables Web APIs to be directly called from smart contracts. This innovation allows the integration of globally identical data streams into smart contracts, facilitating seamless interaction between blockchain applications and real-world data and services.