API3 Delivers Verifiable, Decentralized Data Feeds to Base

We are excited to announce that API3’s managed dAPIs are available on Base. Developers on Base can now access over 120 verifiable, decentralized data feeds powered by first-party oracle nodes, which are operated directly by the data providers.

Base is an Ethereum L2 solution incubated by Coinbase that is built on Optimism’s open-source OP stack. Base is designed to be a secure, cost-effective, and developer friendly way for dApps to leverage Coinbase’s products and distribution to help build a global financial system around a frictionless user experience.

“The introduction of API3’s dAPIs expands the oracle landscape on Base for developers looking for verifiable, decentralized data feeds to power their apps,” said Jesse Pollak, Creator of Base.

Developers looking to utilize managed dAPIs on Base can visit the API3 Market. The API3 Market provides an easy way to browse, access, and manage a wide variety of data feeds, including crypto, forex, equities, and commodities.

Managed dAPIs are changing the way dApps use real-time market data. Delivered as a managed service, they abstract away operational factors like gas management, maintenance, and monitoring. Developers looking to utilize managed dAPIs simply need to read the associated data feed.

“API3’s managed dAPIs align perfectly with Base’s vision of building a frictionless, secure, and developer-centric global financial system. We’re simplifying the way dApps use real-world data onchain, by providing transparent, verifiable data sourced directly from the data providers. We believe the mission alignment between Base and API3 represents the crucial role oracles have to play in scaling blockchain technology to the broader world,” said Ugur Mersinlioglu, Product Lead at API3.

Simply Read Verifiable, Decentralized Data to Power Your dApp

API3’s first-party oracle architecture maintains data onchain directly from the data providers. This decentralized and verifiable design eliminates rent-seeking middlemen and offers a more secure and efficient method of bringing data directly on-chain.

One of the key benefits of the managed service is the ease of use for dApps and chains requiring oracle services. Rather than having to manage their own infrastructure, dApps can simply read data that is directly maintained onchain. This solution simplifies the way data is maintained and also facilitates a quick and easy migration to Base for dApps operating on other EVM-compatible chains, allowing for the rapid adoption and scaling of DeFi ecosystems.

API3’s first-party oracle architecture leverages data directly from the source. The oracle nodes are operated by the data providers themselves, bringing cryptographically signed data onto the blockchain. This allows dAPIs to be verified down to the API parameters and aligns with core principles of the blockchain ethos of transparency and on-chain verification.

Protocols like Aave, Compound, and various DEXes all rely on data maintained directly on the consumer chain. API3 addresses this need by maintaining data on the native-chain in a verifiable and decentralized way. With the introduction of managed dAPIs on Base, developers gain direct access to an assortment of real-world data, including crypto, forex, equities, and commodities straight from the source.

Building the Future of Onchain Finance

As technological innovations continue to improve the core infrastructure necessary for scaling DeFi to the broader world, the mission alignment between Base and API3 represents the crucial role oracles have to play. The next generation of blockchain oracles should provide improved security and transparency with first-party oracle solutions.

Getting Started with dAPIs

Managed dAPIs are easy to implement and offer a flexible, scalable solution for developers building on Base. For those new to dAPIs, a developer Getting Started with dAPIs Video is available to guide you through the API3 Market.

For more information about API3 and managed dAPIs, visit the website, follow us on Twitter, or explore the technical documentation.