API3(API3)

Friend.Tech’s 24-hour fee jump places the social app in the top three projects for fee generation, only behind Ethereum and Lido, according to data from DeFiLlama. Let’s find out more. Ethereum According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Ark Invest and 21Shares are teaming up to apply for an Ethereum Futures Exchange Traded Fund (ETF). Cryptocurrency exchange Bitstamp announced it would end Ethereum (ETH) staking services to its US customers as of September 25 due to the rigid US regulatory environment. According to a post by Farcaster co-founder Dan Romero on August 23, the decentralized social media protocol is migrating to OP Mainnet. DeFi Shiba Inu's much-anticipated Shibarium network, a layer-2 solution built on Ethereum, is gearing up for a fresh launch after encountering initial setbacks. Blockchain oracle provider API3 has announced that it is launching a new data feed service suite for Polygon zkEVM, designed from a new push oracle solution that's centered around first-party architecture. The dYdX foundation has published a list of guidelines and requirements that validators and stakers must comply with to ensure maximum user protection. Altcoins The PEPE token registered a sharp decline in price after millions of meme tokens flooded prominent crypto exchanges such as Binance, Bybit, and OKX. A phishing site has seized control of the Terra website, leading the site developers to sound the alarm and eventually freeze the Terra.money website. The social app Friend.tech has registered a big increase in protocol fees, generating fees in excess of $1.4 million in a 24-hour period. The team has vehemently denied a report claiming the personal data of over 100,000 users had been leaked. Technology Yuga Labs, the creators of the hugely popular NFT collection Bored Ape Yacht Club (BAYC), announced they will remove support for OpenSea’s Seaport Protocol from February 2024. Business Leading e-commerce platform Shopify will now allow users to make USDC payments thanks to its recent integration of the Solana Pay app. Considering the complexity of the ever-evolving crypto market, the trading platform Bitget has introduced the Bitget Protection Fund. Dropbox has moved its unlimited storage plan to a metered one in order to stop crypto miners’ “uneven usage.” Binance, the renowned global crypto exchange, has expanded its footprint by introducing its payment solution, Binance Pay, to the Brazilian market. Binance is pulling its horns in Latin America and the Middle East by withdrawing its crypto payment credit card. Coinbase and Circle, the two entities behind USD Coin (USDC), have announced new terms that would change the governance and funding of the USDC stablecoin. Regulation The SEC has charged a former corrections officer from New Jersey for his role in a bizarre cryptocurrency scam. The FBI has spotlighted six Bitcoin wallets believed to have connections with North Korea for their alleged ties to activities that breach US sanctions. Disgraced FTX founder Sam Bankman-Fried has pleaded not guilty to seven new charges brought against him in a Manhattan federal court on Tuesday. US District Judge Robert Pitman has dismissed an appeal filed by six Tornado Cash users who sought to lift sanctions placed on the controversial cryptocurrency mixer. Security Magnate Finance, a lending and borrowing protocol that operates on the Ethereum Layer-2 network Base, has apparently orchestrated a rug pull, stealing millions of dollars from users of the protocol. Liquidity protocol Balancer has disclosed that it has discovered a critical vulnerability that has impacted over 100 of its v2 pools spread across eight different blockchains. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Friend.Tech’s 24-hour fee jump places the social app in the top three projects for fee generation, only behind Ethereum and Lido, according to data from DeFiLlama. Let’s find out more. Ethereum According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Ark Invest and 21Shares are teaming up to apply for an Ethereum Futures Exchange Traded Fund (ETF). Cryptocurrency exchange Bitstamp announced it would end Ethereum (ETH) staking services to its US customers as of September 25 due to the rigid US regulatory environment. According to a post by Farcaster co-founder Dan Romero on August 23, the decentralized social media protocol is migrating to OP Mainnet. DeFi Shiba Inu's much-anticipated Shibarium network, a layer-2 solution built on Ethereum, is gearing up for a fresh launch after encountering initial setbacks. Blockchain oracle provider API3 has announced that it is launching a new data feed service suite for Polygon zkEVM, designed from a new push oracle solution that's centered around first-party architecture. The dYdX foundation has published a list of guidelines and requirements that validators and stakers must comply with to ensure maximum user protection. Altcoins The PEPE token registered a sharp decline in price after millions of meme tokens flooded prominent crypto exchanges such as Binance, Bybit, and OKX. A phishing site has seized control of the Terra website, leading the site developers to sound the alarm and eventually freeze the Terra.money website. The social app Friend.tech has registered a big increase in protocol fees, generating fees in excess of $1.4 million in a 24-hour period. The team has vehemently denied a report claiming the personal data of over 100,000 users had been leaked. Technology Yuga Labs, the creators of the hugely popular NFT collection Bored Ape Yacht Club (BAYC), announced they will remove support for OpenSea’s Seaport Protocol from February 2024. Business Leading e-commerce platform Shopify will now allow users to make USDC payments thanks to its recent integration of the Solana Pay app. Considering the complexity of the ever-evolving crypto market, the trading platform Bitget has introduced the Bitget Protection Fund. Dropbox has moved its unlimited storage plan to a metered one in order to stop crypto miners’ “uneven usage.” Binance, the renowned global crypto exchange, has expanded its footprint by introducing its payment solution, Binance Pay, to the Brazilian market. Binance is pulling its horns in Latin America and the Middle East by withdrawing its crypto payment credit card. Coinbase and Circle, the two entities behind USD Coin (USDC), have announced new terms that would change the governance and funding of the USDC stablecoin. Regulation The SEC has charged a former corrections officer from New Jersey for his role in a bizarre cryptocurrency scam. The FBI has spotlighted six Bitcoin wallets believed to have connections with North Korea for their alleged ties to activities that breach US sanctions. Disgraced FTX founder Sam Bankman-Fried has pleaded not guilty to seven new charges brought against him in a Manhattan federal court on Tuesday. US District Judge Robert Pitman has dismissed an appeal filed by six Tornado Cash users who sought to lift sanctions placed on the controversial cryptocurrency mixer. Security Magnate Finance, a lending and borrowing protocol that operates on the Ethereum Layer-2 network Base, has apparently orchestrated a rug pull, stealing millions of dollars from users of the protocol. Liquidity protocol Balancer has disclosed that it has discovered a critical vulnerability that has impacted over 100 of its v2 pools spread across eight different blockchains. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Blockchain oracle provider API3 has announced that it is launching a new data feed service suite for Polygon zkEVM, designed from a new push oracle solution that's centered around first-party architecture. According to a press release shared to CryptoDaily by API3, the new solution allows DeFi protocols that currently use push oracles on other EVM (Ethereum Virtual Machine) chains to seamlessly migrate to Polygon zkEVM, hence functioning as both an onboarding and integration solution. Polygon zkEVM, which has built its reputation around the utilization of zero-knowledge proofs and EVM equivalence, has taken a strategic step by incorporating managed decentralized data feeds (dAPIs) from the API3 Market. The rise of such a managed data feed service highlights the sustained DeFi appetite, a sector where the Total Value Locked (TVL) reportedly spans tens of billions. The API3 Model API3's model contrasts with traditional third-party oracle mechanisms, focusing instead on a first-party architecture. The novel approach of sourcing data directly and (in a manner that is) cryptographicallyy-backed pushes the boundaries of data transparency in the space. API3's push oracle solution potentially offers remedies to such issues, advocating for a comprehensive, transparent, and possibly more efficient data sourcing model. The key differentiation (it appears) is with how API3 emphasizes first-party oracles, ensuring data is sourced directly, with increased traceability and data integrity. With DeFi's dynamic evolution, the integration and management of oracle services via a DAO become increasingly relevant. Platforms like QuickSwap Perps, Dovish, and MantisSwap have pivoted to embrace dAPIs, signifying a recognition of the potential security and operational advantages these decentralized data feeds might bring. Tropykus, which has roots in AAVE V2, rapidly embraced dAPIs for its framework and subsequently debuted on Polygon zkEVM. Such an integration showcases the flexibility and potential benefits of dAPIs for emerging platforms. Jack Melnick, Head of DeFi BD at Polygon Labs, provided insights on this alliance: "It's very exciting to see API3 deploying on Polygon zkEVM, enhancing the DeFi ecosystem with an innovative push oracle solution. The integration of managed dAPIs with Polygon's scalable infrastructure marks a significant step towards a more transparent and secure future for decentralized finance." API3's Market space also helps provide an avenue for developers to interact with dAPIs, a potential game-changer in how dApps leverage real-time market data. This collaboration might signal an industry shift, emphasizing more secure, transparent, and efficient data management methods. Some Comparisons In comparison to alternatives like Chainlink and Pyth, which have been noted for their relatively high fees and questions around transparency, API3’s dAPI stands out. It offers builders an opportunity to tap into decentralized data feeds from multiple sources, all facilitated by first-party oracle nodes integrated with native-chain aggregation. This not only positions API3 distinctly in the market but also sets a potential new standard for oracle transparency and efficiency. This new Managed dAPI service addresses several operational challenges developers face, such as the complexities of gas management, rourtine maintenance, and continuous monitoring. The service is not just a conceptual offering; it's already in operation. Developers on the Polygon zkEVM platform, who previously relied on self-funded data feeds, can now seamlessly integrate aggregated data streams directly from other eminent data providers. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Blockchain oracle provider API3 has announced that it is launching a new data feed service suite for Polygon zkEVM, designed from a new push oracle solution that's centered around first-party architecture. According to a press release shared to CryptoDaily by API3, the new solution allows DeFi protocols that currently use push oracles on other EVM (Ethereum Virtual Machine) chains to seamlessly migrate to Polygon zkEVM, hence functioning as both an onboarding and integration solution. Polygon zkEVM, which has built its reputation around the utilization of zero-knowledge proofs and EVM equivalence, has taken a strategic step by incorporating managed decentralized data feeds (dAPIs) from the API3 Market. The rise of such a managed data feed service highlights the sustained DeFi appetite, a sector where the Total Value Locked (TVL) reportedly spans tens of billions. The API3 Model API3's model contrasts with traditional third-party oracle mechanisms, focusing instead on a first-party architecture. The novel approach of sourcing data directly and (in a manner that is) cryptographicallyy-backed pushes the boundaries of data transparency in the space. API3's push oracle solution potentially offers remedies to such issues, advocating for a comprehensive, transparent, and possibly more efficient data sourcing model. The key differentiation (it appears) is with how API3 emphasizes first-party oracles, ensuring data is sourced directly, with increased traceability and data integrity. With DeFi's dynamic evolution, the integration and management of oracle services via a DAO become increasingly relevant. Platforms like QuickSwap Perps, Dovish, and MantisSwap have pivoted to embrace dAPIs, signifying a recognition of the potential security and operational advantages these decentralized data feeds might bring. Tropykus, which has roots in AAVE V2, rapidly embraced dAPIs for its framework and subsequently debuted on Polygon zkEVM. Such an integration showcases the flexibility and potential benefits of dAPIs for emerging platforms. Jack Melnick, Head of DeFi BD at Polygon Labs, provided insights on this alliance: "It's very exciting to see API3 deploying on Polygon zkEVM, enhancing the DeFi ecosystem with an innovative push oracle solution. The integration of managed dAPIs with Polygon's scalable infrastructure marks a significant step towards a more transparent and secure future for decentralized finance." API3's Market space also helps provide an avenue for developers to interact with dAPIs, a potential game-changer in how dApps leverage real-time market data. This collaboration might signal an industry shift, emphasizing more secure, transparent, and efficient data management methods. Some Comparisons In comparison to alternatives like Chainlink and Pyth, which have been noted for their relatively high fees and questions around transparency, API3’s dAPI stands out. It offers builders an opportunity to tap into decentralized data feeds from multiple sources, all facilitated by first-party oracle nodes integrated with native-chain aggregation. This not only positions API3 distinctly in the market but also sets a potential new standard for oracle transparency and efficiency. This new Managed dAPI service addresses several operational challenges developers face, such as the complexities of gas management, rourtine maintenance, and continuous monitoring. The service is not just a conceptual offering; it's already in operation. Developers on the Polygon zkEVM platform, who previously relied on self-funded data feeds, can now seamlessly integrate aggregated data streams directly from other eminent data providers. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.