Oracles

API3

dAPIs are continuously updated streams of off-chain data. They can power various decentralized applications such as DeFi lending, synthetic assets, stablecoins and derivatives. dApp owners can read the on-chain value of any dAPI in real time.

The data feeds are continuously updated by first-party oracles using signed data. Due to being composed of first-party data feeds, dAPIs are enhanced for transparency and thus more secure, as well as offering cost-efficiency and scalability in a turn-key package.

Apart from relying on deviation threshold and heartbeat configuration updates, unlike traditional data feeds, OEV Network enables dApps using dAPIs to auction off the right to update the data feeds to searcher bots. Searcher bots can bid for price updates through the OEV Network to update the data feeds. All the OEV proceeds go back to the dApp.

The API3 Market is where users connect to a dAPI and access the associated data feed services: https://market.api3.org/kroma

To learn more about how dAPIs work, click here.

Last updated