API3, a trailblazer in blockchain oracle solutions, is revolutionizing the Optimism Superchain ecosystem with groundbreaking advancements. API3 plays a pivotal role in scaling a secure on-chain economy that maximizes value for all participants by enhancing data integration and scalability through its innovative Oracle Stack.
Over the past year, Optimism has expanded Ethereum’s scalability by introducing the Superchain thesis. This framework propels growth and adoption by allowing teams to build on the OP Stack and contribute to the OP Collective. The OP Collective aims to pool revenue to fund public goods and drive global adoption forward.
In the Superchain ecosystem, oracles are indispensable as they provide the necessary data and tools to scale new chains. API3’s Oracle Stack simplifies data integration, reducing technical barriers and enabling developers to focus on building applications rather than dealing with infrastructure challenges.
Scaling a global on-chain financial system is undoubtedly challenging. However, Optimism’s Superchain thesis demonstrates that when we collaborate, we can achieve faster progress. API3 is playing a catalytic role in the Superchain ecosystem, supporting the next wave of growth and adoption.
The API3 Oracle Stack comprises decentralized data feeds from the API3 Market, QRNG for generating truly random numbers on-chain, and the OEV Network, which recaptures protocol MEV. These components are specifically designed to meet the demands of Superchain builders, providing easy integration and scalability.
API3’s integration with new chains grants immediate access to secure and decentralized data, which is vital for applications requiring real-time data, such as lending protocols and perpetual exchanges. This streamlined approach to Oracle services for new networks is crucial as it allows developers to swiftly move from concept to production without extensive code changes or infrastructure management.
Notable examples within the Superchain ecosystem include Base, which has witnessed a significant increase in total active users, surpassing 9 million this year. Additionally, the Total Value Locked has tripled since the beginning of the year, exceeding $1.7 billion. Exiled Racers, a project on Base, utilizes API3’s QRNG to generate random events for their on-chain races.
API3 has recently launched its Oracle Stack on Mode and Fraxtal. Mode has amassed over $500 million in TVL and boasts a robust DeFi ecosystem. Fraxtal, developed by Frax Finance, has garnered early support from prominent DeFi partners and is positioned to become a leading network for developing complex financial protocols.
Looking ahead, API3 has announced its support for World Chain upon its launch later this summer. World Chain aims to leverage proof of personhood, offering verified users priority transactions and gas allowances. Protocols on World Chain will be able to utilize API3’s verifiable, decentralized data feeds, integrated with the OEV Network to enhance protocol performance.
Tags: OP
