API3 (API3)

API3 is currently trading at $1.2901, after a price change of 2.14% in the last 24 hours.

Ranked as cryptocurrency #192 by capitalization today, API3 market cap is valued at $92,562,221. API3 trading volume reached $7,160,478 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on API3 coin price prediction page.

What is API3?

API3 is a collaborative platform offering traditional API services in smart contracts in a trustless environment. The project is managed by a decentralized autonomous organization called API3 DAO, where API3’s code is kept open for transparent operations.  

API3 was introduced in 2019 when CLG was created for the Honeycomb marketplace. The proposition was a solution that brought together API providers, oracle node operators, and dApp developers. The shortcomings of Honeycomb in the architectural aspects paved the way for API3. The platform is centered on Airnode, a cloud service that wraps the API backend and avails it on a blockchain. 

There are currently 36,907,810 circulating API3 tokens from an uncapped supply of 110,978,134. The API3 token offering debuted in 2020 on Mesa decentralized exchange. In the auction, 20 million API3 tokens were sold. From the initial token supply of 100 million tokens, 30% were set for founders and team, 20% for the DAO, 20% for public investors, 10% for API3 partners, 10% for seed investors, and 5% for pre-seed investors. 

Staking API3 tokens gives the holders governance rights in API3 DAO and accompanying rewards. API3 tokens support an on-chain insurance service as collateral for dAPI users’ security guarantees. Heikki Vänttinen, Burak Benligiray, and Sasa Milic are the co-founders of API3.