API3 launches new oracle solutions for better DeFi efficiency

API3 introduces next-generation solutions designed to make decentralized finance faster, more efficient, and more sustainable.

API3 is focused on improving the infrastructure behind DeFi to enable long-term growth and better performance for developers. According to a press release shared with Crypto.news, it is rolling out its latest technology that aims to improve how DeFi protocols access real-world data.

As DeFi grows rapidly, API3 (API3) is working to make data feeds more efficient and valuable for developers.

Oracles are vital to DeFi as they move important data like prices onto blockchains. However, traditional oracle services focus primarily on delivering data, which leaves room for improvement.

API3’s new Oracle Stack addresses this issue by adding extra features, including the recovery of value lost due to Miner Minable Value, a common problem in DeFi transactions.

API3 announced it surpassed $1 billion in Total Secured Value in May, a tenfold increase in the last 100 days. The platform’s oracle services secured assets across 20 protocols, with PAC Finance accounting for more than half of the total.

In February, the API3 token saw a 70% surge after being listed on Bitget, but its market cap subsequently dropped to $252 million.

Oracle Stack

According to Uğur Mersinlioğlu, API3’s Strategy Leader, this new solution helps developers access the data they need and recover the value lost during data processing. By using API3’s oracle, developers can improve the performance of their protocols, drive growth, and reduce fees.

Oracle Stack is designed to run on multiple blockchain networks, allowing developers to easily integrate with different platforms.

With over 160 data streams across 37 networks, API3 aims to provide DeFi protocols with the tools they need to stay competitive. API3 also offers a tool to help developers migrate to its platform from other oracle services like Chainlink.