🌎 API3 Unveils Oracle Stack to Revolutionize DeFi Data Access

API3 has introduced a new generation of solutions to enhance decentralized finance (DeFi) by making it faster, more efficient, and sustainable. The primary focus of API3 is to improve the infrastructure supporting DeFi to ensure long-term growth and better performance for developers. The latest technology from API3 aims to improve the way DeFi protocols access real-world data.

With DeFi experiencing rapid growth, API3 emphasizes the importance of making data feeds more efficient and valuable for developers. Oracles play a crucial role in DeFi by bringing essential data, such as prices, onto blockchains. However, traditional oracle services primarily deliver data, leaving opportunities for further enhancement.

API3’s new Oracle Stack addresses this need by incorporating additional features, including the recapturing of value lost due to Miner Extractable Value (MEV), a common issue in DeFi transactions.

In May, API3 reported that it surpassed $1 billion in Total Value Secured, marking a tenfold increase over the past 100 days. The platform’s oracle services have secured assets across 20 protocols, with PAC Finance accounting for over half of the total.

Earlier in February, the API3 token experienced a 70% increase following its listing on a major exchange, though its market cap later adjusted to $252 million.

The Oracle Stack

According to API3’s Strategy Lead, Ugur Mersinlioglu, the new solution helps developers obtain the data they need and reclaim value lost during data processing. By using API3’s oracle, developers can enhance their protocol’s performance, drive growth, and reduce fees.

The Oracle Stack is designed to operate across multiple blockchain networks, making it easier for developers to integrate it into various platforms. With over 160 data feeds across 37 networks, API3 aims to equip DeFi protocols with the necessary tools to stay competitive. API3 also provides a tool to help developers transition from other oracle services to its platform.