Explore → About our journey!Decentralized APIs (dAPIs)
dAPIs are on-chain data feeds sourced from off-chain first-party oracles owned and operated by API providers themselves. dAPIs provide DeFi with a secure and transparent solution that is verifiably decentralized data feeds from curated sources.
dAPIs possess a range of distinct attributes:
- dAPIs have a standardized, code-friendly interface that intends to abstract away technical complexity.
- dAPIs exist in a fully permissionless format.
- dAPIs exist on-chain as smart contracts and are updated by first-party oracles.
INFO
See the medium article about design decisions and dAPIs by reading dAPIs: APIs for dApps.
What can I do with a dAPI?
Through a dAPI DeFi lenders, synthetic assets, algorithmic stablecoins or derivatives (to name a few) can securely access continuously updated streams of off-chain price reference data on-chain. Currently dAPI price feeds serve price reference data across:
- Crypto assets
- Equities
- Forex
- Commodities
- LRT/LST
dAPIs operate with a familiar push-oracle mechanism. Each dAPI has pre-determined oracle specifications with deviation thresholds that sees the price updated on 0.25%, 0.5%, 1% or 5% movements in the market with a 24hr heartbeat.
A next-generation push oracle
dAPIs provide aggregated high-quality price reference data served on-chain by first-party oracles. They have pre-configured oracle specifications that are decentralized through being served by multiple sources.
To activate a dAPIs users can go to the API3 Market to activate a feed.
Verify the decentralization of your oracle
As dAPIs are powered by first-party oracles, the data sources in the aggregation can be verified on-chain. Each off-chain oracle cryptographically signs an update. Our data partners also add their Airnode address to their DNS records.
This means their oracle node can be verified through cryptographic signatures, optimizing the security of price feed operation.
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