API3 has announced that it has surpassed $1 billion in TVS (Total Value Secured), which is a 10 fold increase from the last 100 days.
TVS is the value of all assets that are protected by an application or protocol. This usually occurs in cryptography or decentralized financial (defiThe corresponding sectors are the blockchain and DeFi networks, which indicate their security and acceptance.
According to X, API3’s oracle service currently secures the assets for 20 protocols. Blast’s PAC Finance defi project makes up 52.1%.
Oracles connect blockchains with external systems to allow smart contracts based on data from the real world to work. API3 Oracle stack was designed for developers. It offers simple tools, access without permission, no changes to code, and does not require additional infrastructure.
API3 oracle is built to satisfy the requirements of developers. API3 Oracle stack features simple tools, permissionless access, code changes and extra infrastructure. API3 allows developers to read data fields and begin building.
Noteworthy, API3 token’s value increased by 70% increase This was a month after Bitget listed the company, and its market cap exceeded $347 million. It was a few months after Bitget announced The token has received a lot of support. The API3 token is currently trading at $2.94. This represents a 13.45% increase over the last month.
API3 will enable large-scale, decentralized APIs to be created and monetized. The importance of this objective increases as the blockchain technology is increasingly used in supply chain management, decentralized banking and other industries.
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Source: crypto.news