The oracle project built on the API3 platform has made a significant announcement, revealing that its Total Value Secured (TVS) has exceeded $1 billion in just 100 days, marking a tenfold increase. This achievement demonstrates the growing confidence and adoption of API3’s oracles by various blockchain projects. Presently, API3 is responsible for securing the digital asset security of 20 protocols.
We are thrilled to announce that we have reached a milestone of $1 billion in TVS! This remarkable growth, achieved in less than 100 days, showcases API3’s commitment to revolutionizing the oracle landscape with our developer-first approach. Our innovative first-party oracle architecture is specifically designed to accommodate the future of rollup-centric systems, allowing for seamless expansion across different blockchains.
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— API3 (@API3DAO)
May 22, 2024
INIT Capital, a prominent player in the industry, has successfully raised $149 million through API3’s developer-friendly oracles. Pac Finance, a project under the Blast DeFi umbrella, accounted for the majority share of 52.1%, equivalent to $521 million of the total value secured. API3’s partnership with INIT Capital further solidifies its position as a leading provider of secure digital asset solutions.
By prioritizing the needs of developers, API3 is revolutionizing the oracle landscape. Their architecture is built on a rollup-based model, enabling them to effortlessly scale horizontally across different blockchains and establish vertical partnerships within new ecosystems. As the blockchain industry evolves into a complex network of protocols and applications, API3’s oracles are poised to become the trusted hub for reliable data provisioning across various platforms.
API3 has developed an oracle stack that caters specifically to developers’ requirements. Their solutions are user-friendly, allowing for easy implementation without the need for extensive approvals or alterations to existing code and infrastructure.
The API3 Market is emerging as the go-to source for on-chain data feeds. Developers can now easily subscribe to a wide range of data feeds, accelerating the pace of development and innovation. API3’s unwavering focus on providing stable and scalable solutions that cater to developers’ needs has solidified its position in the blockchain oracle space.
The increasing number of Total Values Secured further underscores the effectiveness of API3 as an invaluable tool for developers in building new blockchain projects.