DAFI Partners with API3

DAFI Protocol
DAFI Protocol
Published in
3 min readMar 19, 2021

We’re proud to announce that we have partnered with API3. DAFI rewards longer term users in every decentralized economy. By distributing synthetics tied to network-adoption, users are rewarded later during network demand growth. This will help create longer-term users, and more demand responsive blockchains.

API3 is building Decentralized APIs for Web 3.0. Users can create powerful decentralized applications with API3’s decentralized governed and quantifiably secure data feeds. API3 data feeds (dAPI), aggregate data from first-party oracles, operated by some of the world’s premier API providers.

This partnership will allow API3 to provide accurate and secure real-world data-feeds to smart contracts in Dafi’s eco-system. Decentralized oracles play a fundamental part in creating dTokens pegged to a network’s demand. Furthering the emphasis on decentralized reward systems, with smarter inflation.

API3’s Decentralized Oracles integrating with DAFI

DAFI is the first to create a relationship between network rewards and network demand, by releasing adoption-tied dTokens. Any blockchain, cryptocurrency, or application can use the Dafi protocol to create their own version of dTokens, each pegged to the demand of their own native token.

Dafi has joined hands with API3 to explore implementing API3’s decentralized Oracle and API services to acquire external price feeds for supported tokens. API3 provides trustless, robust, and secure real-world data to smart contracts without relying on any sort of human or centralized intermediaries eliminating a single point of failure, DDOS attacks, hacks, etc.

Using API3’s oracle solutions ensures that the synthetic dToken created on DAFI will function in an efficient and reliable manner, empowering DAFI to achieve its mission of changing token distribution in networks, forever.

“DAFI was built for better users. To reinvent decentralized economies and the way current value models of rewards, staking & liquidity function. Decentralized oracle solutions like API3 help feed information about demand, into our universe of dTokens. The DAFI-API3 collaboration promises to be an exciting journey and we’re delighted to work together.” — Zain Rana (Founder of Dafi)

“Providing DAFI with access to API3’s variety of Airnode-enabled APIs and dAPIs will allow projects to create dTokens tailored exactly to their specific needs. We hope that the especially strong benefits of this for projects in their early stages, where adoption and community participation are less certain, will help improve the blockchain space as a whole.”— Heikki Vänttinen, co-founder API3

About DAFI

DAFI enables users to be rewarded better in their decentralized networks. Every blockchain, application, and cryptocurrency can create a flavor of a synthetic dToken to reward their early users, while still enhancing scarcity when demand is low — by expanding the dToken quantity itself, when demand rises.

DAFI creates an adoption-tied mechanism for Staking, Nodes, and Liquidity, a new foundation for decentralization.

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About API3

API3’s stated goal is to allow decentralized versions of APIs to be built, managed and monetized at scale. As blockchain technology plays an ever bigger role in the economy — from decentralized finance to supply chain management — their team says it has never been more important for smart contracts to provide timely, reliable real-world data.

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Published in DAFI Protocol

Every decentralized network can now maximize reward distributions based on their demand. Creating limitless applications that support reduced inflation & user growth.

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