API3 is a blockchain-based decentralized protocol that aims to provide secure and decentralized access to real-world data for smart contracts. The protocol is designed to bridge the gap between off-chain data sources and on-chain smart contracts, allowing decentralized applications (dApps) to access reliable, real-time data without relying on centralized intermediaries.
About $API3 token
$API3 is the native token of the API3 protocol, which is used for governance, staking, and payment for data services provided by Airnode operators on the API3 network. Token holders can participate in the protocol's decision-making process and receive rewards for staking their tokens to secure the network and participate in data verification. Additionally, $API3 tokens are used as a means of payment for the services provided by Airnode operators on the API3 network.
How to buy $API3 with a payment card
1. Enter the amount of $API3 and fiat currency that you wish to purchase.
2. Verify your phone and email.
3. Enter or create $API3 wallet
You are given the option to enter your $API3 wallet address or create one using the Swipelux widget.
4. Pass KYC flow
This verification process helps protect you from fraud and other malicious activities.
5. You're now ready to buy $API3 with a credit and debit card.
Market Position and Adoption: API3 is currently ranked #236 in terms of market capitalization, with a market cap of $121,656,909 and a fully diluted market cap of $108,999,526. The token is listed on several popular cryptocurrency exchanges, and it has generated interest from the DeFi and oracle communities, with 64,321 watchlists and tags such as DeFi and Oracles.
The adoption of API3 has been increasing steadily, with several partnerships and integrations announced in recent months. The API3 protocol is being used by a number of blockchain projects, and its decentralized approach to data delivery has been well received by the DeFi community.
Technology and Platform: API3 is built on the Ethereum blockchain and utilizes the ERC-20 token standard. The protocol is designed to provide secure and decentralized access to real-world data for smart contracts, using a network of first-party oracles known as Airnodes. These Airnodes are operated by trusted data providers, and they can securely and reliably retrieve data from off-chain sources and deliver it to smart contracts on the blockchain.
API3's unique approach to data delivery ensures that dApps can access trustworthy and accurate data without having to rely on third-party intermediaries, which can be vulnerable to manipulation or censorship. The protocol is also designed to be scalable and cost-effective, with a flexible economic model that incentivizes participation from data providers and token holders.
Team: API3 has a strong team of experienced blockchain developers, data scientists, and business professionals. The team is led by CEO Heikki Vänttinen, who has extensive experience in software development and blockchain technology. The API3 team also includes several advisors and partners from the blockchain and DeFi communities.
Competition: API3 is competing in the rapidly growing DeFi and oracle markets, which are becoming increasingly crowded with new projects and protocols. Some of the main competitors of API3 include Chainlink, Band Protocol, and APIcoin.
Supply: API3 has a circulating supply of 80,187,931 tokens, with no maximum supply. The token is currently being distributed through a combination of liquidity mining, staking, and community participation incentives.
1. Market Volatility: The cryptocurrency market can be volatile, and API3 tokens may experience significant price fluctuations. This can be due to various factors such as changes in investor sentiment, regulatory changes, or market news.
2. Adoption Risk: While the adoption of API3 is growing, it is still a relatively new protocol and there is a risk that it may not gain widespread adoption in the DeFi and oracle communities.
3. Competition Risk: API3 faces competition from other DeFi and oracle protocols such as Chainlink and Band Protocol. If these competitors gain more market share, it could impact the demand for API3 tokens.
4. Technical Risk: Like all blockchain-based protocols, there is a risk of technical issues or bugs in the API3 protocol. These technical issues could impact the security and reliability of the protocol, which could negatively impact the value of API3 tokens.
5. Regulatory Risk: The regulatory environment for cryptocurrencies and DeFi protocols is constantly evolving, and there is a risk that new regulations could impact the value and adoption of API3 tokens.
6. Liquidity Risk: The liquidity of API3 tokens on cryptocurrency exchanges may be limited, which could make it difficult to buy or sell tokens at a fair price. This could impact the value of API3 tokens and make it difficult for investors to exit their positions.
Potential market development triggers
New Partnerships and Integrations: API3 could see increased adoption if it partners with more blockchain projects or data providers. Partnerships with established DeFi protocols or blockchain platforms could also help to increase the visibility and credibility of API3 in the market.
Increased Adoption of DeFi: The growth of the DeFi market is closely tied to the demand for oracle solutions like API3. As more dApps are developed and more users enter the DeFi ecosystem, the demand for reliable and secure oracle solutions like API3 could increase.
Market Expansion: API3 could expand its market beyond the DeFi ecosystem by partnering with traditional businesses and industries that require reliable and secure access to off-chain data. This could include industries such as insurance, supply chain management, or finance.
Integration with Layer 2 Solutions: The integration of API3 with popular Layer 2 solutions like Polygon, Optimism, or Arbitrum could help to increase the scalability and cost-effectiveness of the protocol. This could make API3 a more attractive option for dApp developers and users.
Improved Tokenomics: Changes to the economic model of API3 could incentivize more participation from data providers and token holders, which could increase the reliability and security of the protocol. This could also help to increase the value and demand for API3 tokens in the market.
Regulatory Clarity: Regulatory clarity around the use of oracles and DeFi protocols could help to increase adoption of API3 and other similar protocols. Clear guidelines around the use of these technologies could help to increase institutional adoption and reduce regulatory uncertainty.