The API3-based oracle project announced that its Total Value Secured (TVS) has surpassed $1 billion after growing tenfold in the last 100 days. This accomplishment showcases the growing confidence and adoption in API3’s oracles by blockchain projects. As now, API3 is already securing 20 protocols’ digital asset security.
We just blasted off to $1 BILLION TVS. 🎉That's 10x in less than 100 days.API3 is redefining the oracle landscape with our developer-first approach.Our first-party oracle architecture is built for a rollup-centric future, with swift horizontal expansion to new chains… pic.twitter.com/FVN6yE6yF0
— API3 (@API3DAO) May 22, 2024
INIT Capital Raises $149M with API3’s Developer-Friendly Oracles
Among those 20 protocols, the Blast DeFi project Pac Finance accounted for 52.1%, amounting to $521 million of all lost value Another notable participant in the deal was INIT Capital, which brought along $149M via API3 as well.
By taking a developer-first approach, API3 changes the game for oracle Their architecture is roll up based, means they can scale horizontally to other blockchain and conduct vertical partnerships for new ecosystems. As blockchain technology matures into more complex and multi-faceted ecosystems of network protocols and apps, API3’s oracles will become a trusted data-provisioning hub for all kinds of different platforms.
API3 oracle stack is developed to cater to the needs of the developers. It provides basic solutions that are easy to implement, open access that does not require extensive approvals, and no need to alter the code or infrastructure.
API3 Market Rises as Top Source for On-Chain Data Feeds
The API3 Market is slowly becoming the center of all things on-chain data. What this effectively means is, developers can easily subscribe to a plethora of data feeds, and development and innovation is always faster. API3 subsequently focuses on the needs for developers and provides stable and scalable solutions, thus allowing API3 to make its mark in blockchain oracle space.
Ultimately, the number of Total Values Secured is increasing day by day which proves that API3 being an effective tool for developers helps this project to be essential and valuable in building new blockchain projects.