API3, a trailblazer in blockchain oracle solutions, is paving the way for significant advancements within the Optimism Superchain ecosystem. API3 plays a crucial role in scaling a secure on-chain economy that maximizes value for all participants. This is achieved through the enhancement of data integration and scalability with its innovative Oracle Stack.
In the past year, Optimism expanded Ethereum’s scalability by introducing the Superchain thesis. This framework fosters growth and adoption by allowing teams to build on the OP Stack and contribute to the OP Collective. The collective aims to pool revenue to fund public goods and drive global adoption forward.
Within the Superchain ecosystem, oracles are essential 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 more on building their applications rather than dealing with infrastructure challenges.
Scaling a global on-chain financial system is no easy task. However, Optimism’s Superchain thesis demonstrates that when we work together, we can achieve faster progress. If you want to learn more about how API3 is catalyzing the Superchain ecosystem to support the next wave of growth and adoption, click on the link provided.
The API3 Oracle Stack comprises several components, including decentralized data feeds from the API3 Market, QRNG for generating truly random numbers on-chain, and the OEV Network to recapture protocol MEV. These components are specifically designed to meet the demands of Superchain builders for seamless integration and scalability.
API3’s integration with new chains gives them immediate access to secure and decentralized data, which is crucial for applications requiring real-time data, such as lending protocols and perpetual exchanges. This streamlining of Oracle services to new networks is vital as it enables developers to swiftly move from concept to production without extensive code changes or infrastructure management.
Let’s take a look at some key examples and adoption within the Superchain ecosystem. Base, a prominent project, has more than doubled its total active users to over 9 million this year. The Total Value Locked has also tripled since the beginning of the year, surpassing $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 accumulated over $500 million TVL and boasts a robust DeFi ecosystem. Fraxtal, developed by Frax Finance, has garnered early support from renowned DeFi partners and is poised to become a leading network for developing complex financial protocols.
Looking ahead, API3 has announced its support for World Chain, set to launch later this summer. World Chain aims to leverage proof of personhood to provide verified users with priority transactions and gas allowances. Protocols on World Chain will be able to utilize API3’s verifiable, decentralized data feeds, which will be seamlessly integrated with the OEV Network to enhance protocol performance.
Tags: OP