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About API3
Disclosures
API3 risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading API3. All crypto assets are risky, there are general risks in investing in API3. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
DeFi tokens
Decentralised Finance ("DeFi") tokens are crypto assets built on decentralised blockchain technology for financial applications or protocols. Risks linked to DeFi tokens include:
Enterprise Risk
Interactions between multiple DeFi protocols create a situation where a vulnerability or breakdown in one protocol can trigger a cascading effect, affecting other interconnected platforms.
Technology Risk
DeFi protocols frequently depend on external data sources or oracles, and any tampering or inaccuracies in these data streams can result in a lack of trust and reliability in the protocols.
Regulatory Risk
Governments and regulatory bodies around the world can introduce new regulations or ban certain aspects of the cryptocurrency market, affecting its legality and viability, which could affect token liquidity and/or value.
Legal Risk
Certain tokens may be used for operating a decentralised exchange platform which may contain additional risks:
- The platform may allow users to participate who have not been vetted or verified and therefore expose the possibility that users are interacting with sanctioned entities.
- The platform may be accessible in jurisdictions where some or all the exchange activity should be regulated. If a local regulator deemed the platform activity to be in breach of local regulation, they may request cessation or termination of the service which could affect token liquidity and/or value.
Market Risk
Given their novelty, the evolving technology involved and lack traditional asset structure, valuing crypto assets can be very difficult or impossible. This means valuations are determined by demand that is at risk of manipulation in various ways.
API3’s price performance
API3 on socials
Guides
API3 FAQ
API3 provides a solution for integrating real-world data into blockchain applications using API connectivity, ensuring seamless and standardized data integration
Oracles play a crucial role in the API3 ecosystem by providing secure and reliable data feeds to decentralized applications (dApps). API3 takes a unique approach by leveraging first-party oracles, which directly source data from trusted and authoritative data providers. These first-party oracles ensure the accuracy and integrity of the data, as it is obtained directly from the source without relying on intermediaries. By eliminating third-party manipulation and enhancing transparency, API3's first-party oracles contribute to building a more robust and trustworthy data infrastructure for blockchain applications.
Easily buy API3 tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include API3/USDT.
Swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for API3 with zero fees and no price slippage by using OKX Convert.
Dive deeper into API3
In the world of technology, application programming interfaces (API) play a crucial role in facilitating interactions between software applications and the exchange of data. However, traditional APIs are centralized and rely on trust in a central authority. API3 introduces a blockchain protocol that enables the creation of decentralized APIs. By leveraging the transparency and security of blockchain technology, API3 aims to revolutionize how APIs are built and utilized in the tech industry.
What is API3?
API3 is a blockchain protocol that aims to bridge the gap between smart contracts and real-world data by providing secure and reliable data feeds through decentralized APIs (dAPIs). By eliminating the need for intermediaries and relying on a decentralized network, API3 ensures the integrity and trustworthiness of the data utilized by smart contracts.
Scalability and effective governance are key pillars of the API3 ecosystem. Token holders have the power to actively participate in decision-making by staking their API3 tokens in the dedicated staking pool. This ensures that the network remains secure and transparent, while also incentivizing token holders to contribute to the network's growth and success.
The API3 team
API3 owes its inception to a talented and visionary team of individuals. Heikki Vanttinen, the founder and CEO of CLC Group, a prominent blockchain lab, played a pivotal role in bringing API3 to life. Burak Benligiray, the former CTO of CLC Group, has also made significant contributions to the development of the API3 protocol. With his deep understanding of ChainAPI, Burak brings invaluable insights and technical expertise to the team. Completing the trio is Saša Milić, a distinguished lecturer at the University of Toronto.
How does API3 work?
API3's decentralized APIs are at the forefront of data aggregation innovation, revolutionizing the way information is sourced and utilized. Unlike traditional approaches that rely on intermediaries, API3's unique approach directly connects with first-party data providers, ensuring greater transparency and mitigating the risk of data manipulation by third parties.
By eliminating intermediaries, API3 not only enhances the integrity and reliability of the data but also increases efficiency and reduces costs. The direct integration with first-party data sources allows for real-time and accurate data access, enabling developers and applications to make informed decisions and provide users with reliable information.
The API3 decentralized autonomous organization (DAO) assumes the vital role of overseeing the management of API3’s dAPIs, while concurrently establishing decentralized governance. Through this decentralized governance model, dAPIs can operate with heightened transparency and significantly reduce the vulnerability associated with centralized points of failure.
First-party oracles and Airnode
API3 sets itself apart from other oracle projects by utilizing first-party oracle nodes instead of relying on third-party intermediaries. This innovative approach is made possible through Airnode, which empowers API providers to transform their APIs into decentralized APIs. By decentralizing data feeds at their original sources, Airnode eliminates the need for intermediary nodes and enables direct data access for decentralized applications (dApp).
API3’s native token: API3
API3 is the native token of the API3 protocol, serving a variety of use cases.
API3 tokenomics
There are 84,776,283 API3 tokens in circulation at the moment. This represents about 68 percent of its total supply, which is 125,324,588 tokens. API3 has no maximum supply. This means that the protocol may increase its total supply based on governance votes.
API3 use cases
API3 token holders can stake their tokens and earn interest through the staking pools. By staking their tokens, users contribute to the network's security and decentralization and become eligible to receive a share of the revenue generated by the dAPIs.
In addition to staking rewards, the dAPI network plans to introduce a subscription model for dApps. This means that developers and users can access the data provided by the dAPIs through a subscription cost. Data suppliers contributing their data to the API3 network will be compensated in API3 tokens.
Finally, token holders can also participate in the governance of the API3 ecosystem by voting on key decisions. This ensures that the interests of the token holders are aligned with the project’s goals.
Distribution of API3
API3's tokenomics underwent updates in 2020 and may continue to evolve based on the team's assessment and requirements. It is important to note that API3 does not have a maximum supply, which means that the total number of API3 tokens in circulation may increase over time.
During the launch of API3, 15 million tokens were allocated to pre-seed and seed investors. Another 20 million tokens were reserved for the token's initial coin offering (ICO). The founding team received 30 million API3 tokens, and 10 million tokens were given to partners and contributors. Additionally, 25 million API3 tokens were allocated to an ecosystem fund.
What does the future hold for API3?
API3 revolutionizes the data oracle landscape by eliminating middlemen and enabling data providers to run their own nodes. This transparent and efficient ecosystem attracts more data providers, enhancing the availability and reliability of blockchain data. With decentralized governance and a robust DAO, API3 ensures that decision-making power is distributed among token holders, fostering collaboration and network integrity. By democratizing access to information and providing a trusted infrastructure, API3 facilitates seamless integration of real-world data into dApps, driving innovation in the blockchain space.
Disclaimer
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.