Source: API3USD Chart by TradingView
API3 is the native token of the API3 project, that grants its holders full governance rights in the API3 DAO and acts as collateral in the data feed insurance pool. Staking API3 into the data feed insurance pool earns the staker a governable share of data feed revenues, as well as inflationary staking rewards.
API3 is a DAO-governed project for the creation of dAPIs — fully decentralized and blockchain-native APIs — which will be set up, managed, insured, and monetized at scale by the API3 DAO. With dAPIs, API3 aims for the concept of an API to take the next evolutionary step to meet the inevitably strict decentralization requirements of Web 3.0 without employing third-party intermediaries.
API3 provides smart contract developers with oracle data feeds that are:
- Free of middlemen
- Truly decentralized
- Quantifiably secure
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