We are expanding our oracle ecosystem further by partnering with API3.
API3 is building decentralized APIs for Web 3.0 which would allow platforms to access quantifiably secure data feeds. API3 has already been working with some of Injective’s valuable partners such as Fantom and Polygon (previously Matic).
Injective is already integrating with some of the best data providers in the industry today such as Chainlink, Band Protocol, and DIA. Adding API3 to the Injective Data Alliance will help to further expand the possibilities on our decentralized derivatives exchange. In addition, we expect our partnership with API3 to add value by providing external, real-world data feeds from their network of first-party oracles.
Our core mission is to provide unfettered access to limitless DeFi markets globally. Adding new oracle solutions into our rapidly growing ecosystem further helps as in allowing our users to trade new markets on Injective moving forward.
“We are thrilled to be bringing API3 into our oracle ecosystem. This will undoubtedly help unlock new frontiers within DeFi as users gain access to new price feeds for a diverse array of asset classes,” Eric Chen, Injective CEO.
API3 is exploring a novel take on on-chain oracles by eliminating third-party intermediaries. It enables premier API providers to run their own node, Airnode, and broadcast data on-chain directly to Web 3.0 applications such as the Injective Exchange. API3 APIs are fully decentralized and blockchain-native with focus on quantifiable security and governance.
“API3 is excited to bring Injective Protocol quantifiably secure and decentralized data for use in Injective’s decentralized trading applications. API3 hopes to bring Injective users more security and increase access to a variety of markets. Injective Protocol is at the forefront of the layer 2 DEX initiative, and API3 is excited to support them in their goals,” said Heikki Vänttinen, API3 co-founder.
The main objective of this partnership is to enrich Injective Protocol with flexibility and breadth of derivatives that can now be created and traded on our DEX. Indeed, with API3’s dAPIs and Airnode-enabled APIs, our users will attain access to APIs and data feeds that enable a wide range of prediction markets, more complex derivatives, and creative financial experiments.
As the Injective ecosystem grows and we welcome more teams to build on top of our chain, it is vital that our infrastructure provides access to high-quality data. By partnering with API3 we are taking another major step towards this goal.
API3 builds decentrally governed and quantifiably secure data feeds that power Web 3.0 applications without employing third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPIs are fully decentralized and blockchain-native APIs with quantifiable security.
About Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
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