GRAND CAYMAN, Cayman Islands–(BUSINESS WIRE)–API3 recently announced the deployment of its decentralized data feeds (dAPIs) across five new chains: Base, Kava, Linea, Mantle, and Rootstock. This significant expansion reflects API3’s commitment to revolutionizing decentralized finance (DeFi) by supporting as many chains as possible with verifiable, decentralized data feeds maintained on-chain directly by the data providers.
API3’s cost-effective approach democratizes access to the off-chain data developers need to build a variety of decentralized applications. This expansion gives developers on the following networks the ability to utilize real-time data to power their applications:
Base is an Ethereum L2 solution incubated by Coinbase that is built on Optimism’s open-source OP stack.
Kava is the first Layer 1 blockchain to combine the speed and scalability of the Cosmos SDK with the developer power of Ethereum.
Linea is a developer-centric zkEVM rollup, designed as an innovative Layer 2 solution for scaling Ethereum dApps.
Mantle is a modular blockchain that combines an optimistic rollup with an innovative data availability solution.
Rootstock is the first open-source platform powered by the bitcoin network and aims to enrich its ecosystem by facilitating smart contracts, rapid payments, and enhanced scalability.
By extending dAPIs across a total of 16 networks, API3 is demonstrating its commitment to giving developers across the DeFi landscape the tools they need to build and scale.
“This expansion and deployment of our oracle services to these new chains amplifies our mission to be a leader in helping dApps to seamlessly scale. Builders on these chains now have access to price feeds powered by oracles operated by the data provider as opposed to third-party node operators. This marks a significant shift for the industry by returning transparency to on-chain data,” said Ben Carvill, API3 Ecosystem Lead.
Accessing Verifiable, Decentralized Data on the API3 Market
API3’s dAPIs simplify the process for developers to access real-world data, fulfilling API3’s vision of providing verifiable, decentralized data feeds maintained on-chain directly by the data providers.
Developers on these newly supported networks can now upgrade to managed dAPIs to utilize real-time data for a variety of blockchain applications. Delivered as a managed service, managed dAPIs remove operational factors like gas management, maintenance, and monitoring. Developers looking to utilize managed dAPIs on these networks simply need to read the associated data feed.
“We are already seeing a clear trend that in the future we will see an increasing number of chains, each with their unique infrastructure demands. API3 is dedicated to supporting these emerging ecosystems with critical oracle solutions. By eliminating the requirement to run any additional infrastructure, we are unlocking the potential for these Layer 2 networks to scale and grow,” said Ugur Mersinlioglu, Product Lead at API3.
Managed dAPIs are accessed through the API3 Market. The API3 Market is the first of its kind in Web3, providing developers a user-friendly interface featuring a variety of data feeds, similar to a Web2 experience. Developers looking to utilize managed dAPIs on these networks can visit the Market, where they can easily browse, access, and manage over 120 data feeds, including crypto, forex, equities, and commodities.
Building the Future of DeFi
As DeFi continues to evolve and mature, API3 remains committed to building on the foundational principles of blockchain: true decentralization, data verifiability, and transparent on-chain operations. By sourcing data directly from reputable providers and decentralizing data feeds in a transparent and verifiable way, API3 ensures a level of security that is essential for the continued growth of DeFi.
“Rollups are shaping the future for scaling blockchain technology and oracles are essential infrastructure to support that growth. API3 is leading the way in supporting these networks with services that are fully verifiable, decentralized, and built to scale. We’re building towards a future with 100+ chains and our intention is to support each one with a fully managed, worry-free oracle service,” said Ugur.
The role of oracles in DeFi goes beyond mere data provision; they serve as core infrastructure for network security and scalability. As innovative projects continue to work to improve DeFi’s core infrastructure, API3 is setting the standard for what oracles can and should be. As a first-party oracle solution, API3 represents the next generation of oracle services focused on enhanced security and transparent operations, setting the stage for the mass adoption and scaling of DeFi.
About API3
API3 is a blockchain oracle provider leading the transition from traditional third-party oracle networks to first-party oracle solutions. Their mission is to build a more interconnected DeFi ecosystem with verifiable, decentralized, and secure oracle solutions. API3 delivers a suite of products to developers building next-generation applications, including the first-party Airnode to connect API providers directly to the blockchain, decentralized data feeds (dAPIs) on the API3 Market, QRNG services for generating truly random numbers on-chain, and OEV Share to allow dApps to capture Oracle Extractable Value and improve protocol performance.
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Contacts
Media Contact:
Addison Huegel
addison@blockpr.io
