Coin Metrics Joins API3’s Growing Network of Data Providers

We are proud to announce our collaboration with Coin Metrics, a leader in advancing the open internet of the future with their multichain API services. This collaboration expands the number of providers that provide cryptographically secure and verifiable data for aggregating our data feeds onchain.

Coin Metrics is a leading provider of transparent, high-quality cryptoasset market data. They offer two types of prices — CM Reference Rates and CM Principal Market Prices — covering over 1,000 top cryptoassets, sourced from a carefully selected set of high-quality markets. These prices are constructed with rigorous methodologies and delivered via low-latency APIs to ensure accessibility and reliability.

API3 leverages their CM Reference Rates, which provide aggregated, high-granularity price data for a broad range of crypto assets. This integration enables precise, up-to-date asset valuation, crucial for operating our price feeds, including popular cryptocurrencies and stablecoins.

First-Party Oracle Node: The Bridge to the Blockchain

API3’s Airnode enables a straightforward, serverless connection between Coin Metric’s APIs and blockchain applications, facilitating real-time data flow without the need for third-party intermediaries. This first-party oracle solution enhances data security, maintains source integrity, and reduces operational costs.

Airnode is designed around the data provider’s needs. Its effortless operation requires zero maintenance post-deployment. Its zero-trust framework connects APIs directly to the blockchain, ensuring complete data integrity. As Airnode is EVM-compatible, it is easy to deploy these data feeds across many chains to quickly scale onchain finance.

Powering dApps with Verifiable Data, Straight from the Source

API3’s vision is to redefine the standards for onchain data by pioneering data feeds that facilitate a direct connection between data providers and smart contracts. This first-party oracle architecture ensures end-to-end transparency and significantly improves data security and reliability through the aggregation of multiple data sources into each data feed. As one of high-quality, reputable providers powering our data feeds, this collaboration is a crucial step towards bringing real-world data onchain in a verifiable way.

API3 is committed to building an open, decentralized web and is happy to welcome Coin Metrics into our growing network of data providers that integrate off-chain data directly to the blockchain. Builders can utilize dAPIs across 39 blockchains on the API3 Market, with the ability to verify the source and degree of aggregation of those data feeds onchain.

About Coin Metrics

Coin Metrics is the leading provider of crypto financial intelligence, offering network data, market data, indexes and network risk solutions to the most prestigious institutions touching cryptoassets. Established in 2017, Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. Coin Metrics puts unparalleled insight and accuracy into crypto data and analytics so that companies can accelerate value creation and minimize risk. For more information, visit www.coinmetrics.io.