API3 is an oracle project built around Airnode, software that lets API providers deliver data to blockchain applications as first-party oracles. Its dAPIs and related products aim to connect off-chain information to smart contracts while changing who operates the oracle infrastructure.
Market Data
| Stat | Value |
|---|---|
| Ticker | API3 |
| Price | — |
| Market Cap | — |
| 24h Change | — |
| Contract (Ethereum) | 0x0b38...b88a |
Price and market capitalization fields update from CoinGecko. Supply figures are described separately because supply definitions and release schedules can differ by asset.
How It Works
A smart contract cannot directly query an ordinary website or database. With Airnode, a data provider can operate an oracle endpoint that responds to blockchain requests. API3's dAPIs can combine feeds for applications, while the provider remains responsible for the quality and availability of its source data.
The first-party model can reduce reliance on separate oracle middleware, but it does not remove trust assumptions: applications still depend on their chosen data providers, feed configuration, and on-chain integration. OEV is API3's approach to directing some value associated with oracle-update opportunities back to participating applications; it should not be described as guaranteed revenue for every user.
Tokenomics
API3 is used for API3 DAO governance. Staking API3 grants voting power and access to weekly rewards; the DAO documentation says rewards are minted and unlock on a rolling one-year schedule. Supply therefore changes as rewards are issued, so older fixed-supply descriptions should not be repeated without current evidence.
The DAO pool documentation describes a possible slash if a claim is made against the pool, but explicitly says that this claim mechanism is not yet implemented. That means the documentation does not support describing active, guaranteed insurance coverage for dAPI users.
Risks and Trade-offs
First-party operation can make responsibility clearer, but it concentrates data quality in the API provider and still requires operational security. Adoption, feed coverage, provider availability, governance participation, reward issuance, and the difference between planned and deployed features all matter when evaluating API3.
Social Media Sentiment
A March 2021 r/CryptoCurrency discussion of API3's first-party-oracle approach included interest in simpler provider integration as well as concerns about adoption and whether relying on one data provider weakened decentralization. It is an old, small discussion and cannot represent current users or today's product status. Read the public discussion.
Last updated: 2026-10
Related Terms
See Also
- What Is MEV — And Why Every Ethereum Transaction Is a Game
- Why DAO Governance Votes Often Fall Short — and Why Protocols Still Use Them
- Are Layer 2 Networks Actually Decentralized?
- Swap crypto with ChangeNOW
Sources
- API3 documentation for dApps — The docs describe dAPIs, Airnode feeds, and the OEV mechanism for applications using API3 data feeds.
- API3 DAO governance documentation — This page explains which matters the DAO governs and that participants stake API3 to vote.
- API3 DAO staking-rewards documentation — The DAO docs describe weekly minted rewards, voting rights, and the one-year reward unlock.
- API3 pool contract documentation — The contract documentation says slashing on a claim is not yet implemented and describes the unstaking delay.
- CoinGecko API3 listing — This listing identifies API3 and supplies the live market reference used in the table.