Yeliz Akmaca 
API3 is an oracle solution designed to bridge blockchain applications (dApps) with real-world data. It provides developers with APIs compatible with decentralized applications. The project decentralizes the process of transferring data on-chain by using first-party oracles operated directly by data providers, eliminating intermediaries. API3’s dAPIs, although Ethereum-based, are compatible with nearly all smart contract blockchains.
What sets API3 apart is its first-party oracle model, which allows data to be transmitted directly from providers to the blockchain, enhancing security while keeping the project fully decentralized. This eliminates the need for a central authority at the ecosystem level.
API3 Token
API3 token is the native cryptocurrency of the platform. Token holders participate in platform governance via the API3 DAO. They can also stake API3 tokens in dAPIs to contribute to network security and earn staking rewards. API3 is an ERC-20 token running on the Ethereum network.
Founders
API3 was founded in 2020 by Heikki Vänttinen, Burak Benligiray, and Saša Milić. Their mission was to decentralize existing oracle solutions and provide blockchain applications direct access to on-chain data without a central intermediary.
- Burak Benligiray: Co-Founder
- Heikki Vänttinen: Co-Founder
- Saša Milić: Co-Founder
- Joe Grech: Marketing Director
How It Works
API3 provides decentralized infrastructure for smart contracts to access off-chain data. At the core of this architecture is “Airnode,” an oracle node operated by API3’s decentralized network, which connects smart contracts with external data sources. Airnodes use a first-party oracle model, meaning the data source itself is responsible for providing data, eliminating the need for third-party intermediaries.
What Makes API3 Unique?
Unlike other oracle projects, API3 uses first-party oracle nodes run by data providers. Its Airnode technology allows API providers to convert APIs into dAPIs, creating a fully decentralized oracle solution.
API3 Coin Functionality
API3 Coin (API3) is the platform’s native token and plays a key role in governance. Token holders vote in the API3 DAO and stake tokens to support network security. API3 is also used for subscription fees or accessing services within the network.
Infrastructure & Network
API3 Coin is built on the Ethereum blockchain and follows the ERC-20 token standard, ensuring compatibility with other Ethereum ecosystem applications.
Exchanges
- Binance – API3/USDT, API3/TRY, API3/BTC, API3/USDC
- Kraken – API3/USD, API3/EUR
- KuCoin – API3/USDT
- Huobi Global – API3/USDT
- MEXC – API3/USDT
- Gate.io – API3/USDT
- Upbit – API3/USDT, API3/KRW
- Decentralized Exchanges (DEX) – e.g., Uniswap on Ethereum
Investors
API3 raised $4M in 2020, with $2M from DWF Labs in exchange for 711,744 API3 tokens. Other investors include Spartan Group, Laser Digital (Nomura), and Caladan (formerly AlphaLab). Major backers also include Placeholder, Pantera, CoinFund, Digital Currency Group, Accomplice, and Hashed.
Partners
- Polygon zkEVM: Provides access to multi-source decentralized data flows.
- Avalanche: Offers dAPIs on Avalanche.
- Binance: Collaborates on various services.
Token Info
- Total Supply: 150.72M API3
- Max Supply: Not specified
- Circulating Supply: 86.42M API3
Token Distribution
- Founders: 30%
- Ecosystem Fund: 25%
- Public: 20%
- Partners & Contributors: 10%
- Seed Round: 10%
- Pre-Seed Round: 5%
Key Features
- dAPI Concept: Decentralized use of traditional APIs.
- Multi-API Support: A single dAPI can include multiple APIs.
- First-Party Oracle Network: Transparent network operated by API providers.
- Decentralized Governance (DAO): Token holders vote on the project’s future.
- Staking Rewards: Earned from dAPI usage.
- Beacons: Provides developers with continuously updated off-chain data.
Roadmap
- 2020: Project founded; token launched; Airnode developed.
- 2021: dAPIs developed; DAO governance implemented.
- 2022: OEV mechanism integrated; Layer 2 prep started.
- 2023: Layer 2 integration; ecosystem growth.
- 2024+: Supported networks reached 40; TVS $600M; wider DeFi/dApp adoption.
Official Links
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