API3 launches new oracle solutions for better DeFi efficiency

API3 unveiled a new generation of solutions designed to make decentralized finance faster, more efficient, and more sustainable.

API3 is focusing on improving the infrastructure behind DeFi to ensure long-term growth and better performance for developers. It is rolling out its latest technology aimed at improving how DeFi protocols access real-world data, according to a press release shared with crypto.news.

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

Oracles are crucial to DeFi because they bring important data, like prices, onto blockchains. However, traditional oracle services mainly focus on delivering data, leaving room for improvement. 

API3’s new Oracle Stack addresses this by adding extra features, including recapturing value lost due to Miner Extractable Value — a common problem in DeFi transactions.

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

In February, the API3 token saw a 70% surge following its listing on Bitget, though its market cap later dropped to $252 million.

The Oracle Stack

According to API3’s Strategy Lead, Ugur Mersinlioglu, this new solution helps developers get the data they need and reclaim value lost during data processing. By using API3’s oracle, developers can boost their protocol’s performance, drive growth, and reduce fees.

The Oracle Stack is designed to work across multiple blockchain networks, making it easy for developers to integrate into different platforms.

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