The oracle project powered by API3 has made a groundbreaking announcement, revealing that its Total Value Secured (TVS) has exceeded $1 billion in just 100 days, marking a tenfold increase. This remarkable achievement reflects the growing confidence and adoption of API3’s oracles by various blockchain projects. Currently, API3 is providing digital asset security for 20 protocols.
We have reached an incredible milestone of $1 BILLION TVS!
This tremendous growth occurred in less than 100 days.
API3 is revolutionizing the oracle landscape with our developer-centric approach.
Our first-party oracle architecture is designed to cater to the future of rollups, ensuring swift expansion to new chains…
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— API3 (@API3DAO)
May 22, 2024
API3’s Developer-Friendly Oracles Drive INIT Capital to Raise $149M
Out of the 20 protocols, Pac Finance from the Blast DeFi project accounted for 52.1% of the TVS, amounting to $521 million. Another noteworthy contributor to this achievement was INIT Capital, which raised $149 million through API3.
By prioritizing the needs of developers, API3 is revolutionizing the oracle space. Their architecture is rollup-based, enabling horizontal scalability to different blockchains and vertical partnerships with new ecosystems. As blockchain technology continues to evolve into intricate and diverse networks of protocols and applications, API3’s oracles will emerge as a trusted hub for providing data to various platforms.
API3’s oracle stack is specifically designed to meet the requirements of developers. It offers user-friendly solutions that are easy to implement, grants open access without the need for extensive approvals, and eliminates the need for code or infrastructure modifications.
API3 Market Emerges as a Leading Source for On-Chain Data Feeds
The API3 Market is gradually establishing itself as the go-to platform for on-chain data. This signifies that developers can effortlessly subscribe to a wide range of data feeds, fostering faster development and innovation. API3’s focus on addressing developers’ needs and providing stable and scalable solutions has enabled the project to make a significant impact in the blockchain oracle space.
The increasing number of Total Values Secured is a testament to API3’s effectiveness as a tool for developers, solidifying its importance and value in constructing new blockchain projects.
