Api3

API3 is the native token of a decentralised oracle network that connects real-world data to smart contracts on Ethereum and compatible chains. The project claims to address the problem of trust in data delivery by having the data providers themselves run the oracle infrastructure, rather than relying on a third-party intermediary. This design is intended primarily for developers building decentralised finance applications that require reliable off-chain price feeds and other external data.

API3 uses first-party oracles, meaning the entities that own the data operate the nodes that push it on-chain, removing one layer of potential manipulation or failure. The protocol also captures what it calls Oracle Extractable Value, a mechanism designed to reclaim value that would otherwise be lost when price updates create arbitrage opportunities in the smart contracts relying on the feeds. The API3 token is used for governance over the protocol and can be staked, with stakers bearing coverage liability in exchange for a share of protocol revenue.

The protocol generated 113,338 USD in fees over the trailing 30 days and 1,228,875 USD over the trailing 12 months, with fees annualised from the trailing 30-day figure implying a run rate of roughly 1,378,945.67 USD. Of the 30-day fees, 107,670 USD was recorded as supply-side revenue, meaning it flowed to participants such as stakers, while the protocol itself retained 5,668 USD in that same period, representing a take rate of approximately 5 percent. The 24-hour fee figure stood at 3,686 USD, and both fees and protocol revenue grew by roughly 7 percent over the last 30 days. Fees originate from users and integrators accessing oracle services through the API3 Market.