KEY TAKEAWAYS
- API3 partners with Alchemy to enhance its network of RPC providers, focusing on secure and verifiable data for liquid staking tokens.
- Alchemy’s Chain APIs provide essential JSON-RPC services, ensuring accurate data for blockchain applications.
- This collaboration aims to improve DeFi protocols’ performance by offering precise asset valuations and scalable data feeds across multiple chains.
- API3’s Oracle Stack facilitates decentralized data feeds, enhancing data security and reliability for smart contracts.
API3 has announced a strategic partnership with Alchemy, a prominent blockchain infrastructure provider, to enhance its network of RPC providers. This collaboration aims to deliver cryptographically secure and verifiable data for API3’s multi-source data feeds, particularly for liquid staking tokens (LSTs) and liquid restaking tokens (LRTs). The partnership was announced here.
Alchemy is recognized for offering a comprehensive suite of tools and services that enable developers to build and scale decentralized applications efficiently. Central to its offerings are Chain APIs, which provide access to JSON-RPC services across multiple supported chains. This ensures that blockchain applications can operate with up-to-date and accurate data, a critical factor for maintaining operational integrity and security.
API3’s integration with Alchemy’s multichain RPC services is designed to ensure precise and current asset valuations, essential for powering its data feeds for LSTs and LRTs. As the decentralized finance (DeFi) landscape evolves, API3 is focusing on assets crucial for the long-term performance and composability of Layer 2 ecosystems. This partnership plays a vital role in streamlining the operation of LST price feeds, ensuring that DeFi protocols can meet the demands of a competitive Layer 2 landscape.
In the context of an emerging rollup-centric future, the ability to offer enhanced capital efficiency and unlock new yield opportunities through LSTs and LRTs is expected to define the success of blockchain networks. API3’s Oracle Stack, facilitated by this collaboration with Alchemy, is designed to meet these demands by providing scalable and interoperable data feeds across multiple chains. This ensures that protocols building in a multi-chain environment can efficiently access the data feeds they need to thrive.
API3’s vision is to redefine the standards for onchain data by pioneering decentralized data feeds that facilitate a direct connection between data providers and smart contracts. This first-party oracle architecture aims to improve data security and reliability through the aggregation of multiple data sources into each data feed. Builders can utilize the API3 Oracle Stack across 37 blockchains on the API3 Market, with the ability to verify the source and degree of decentralization of those data feeds onchain.
Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
