Api3

API3 is the governance and utility token of a decentralized oracle network that connects real-world data to blockchain smart contracts without relying on third-party intermediaries. The project positions itself as a first-party oracle solution, meaning data providers run their own oracle nodes rather than passing data through a middleman. It targets developers building decentralized finance applications who need reliable off-chain data feeds delivered on-chain.

API3 operates within the Ethereum ecosystem and uses a model called Oracle Extractable Value, or OEV, which attempts to capture and redistribute value that would otherwise be lost when oracle price updates create arbitrage opportunities in downstream protocols. The API3 token is used for governance, allowing holders to vote on protocol decisions, and it can be staked in an insurance pool that backs the security of the data feeds. No consensus algorithm or block time is recorded for this asset in the stored data.

The protocol generated 108,878 USD in total fees over the trailing 30 days, with an annualized figure of 1,324,682 USD projected from that same window; over the trailing 12 months the figure was 1,051,941 USD. Of the 30-day fees, supply-side participants received 103,434 USD, while the protocol itself retained 5,444 USD in revenue, reflecting a take rate of approximately 5 percent over that period. Both fees and revenue contracted modestly over the most recent 30 days, declining 1.38 percent and 1.15 percent respectively. The market cap to annualized revenue ratio stands at 489.88, and the market cap to annualized fees ratio stands at 24.49, at the point in time these figures were recorded.