API3, a trailblazer in blockchain oracle solutions, is leading the way for major advancements within the Optimism Superchain ecosystem. API3 plays a crucial role in expanding a secure on-chain economy that maximizes value for all participants by improving data integration and scalability through its innovative Oracle Stack.
Over the past year, Optimism has enhanced Ethereum’s scalability by introducing the Superchain thesis. This groundbreaking framework fosters growth and adoption by allowing teams to develop on the OP Stack and contribute to the OP Collective. The goal is to pool revenue to support public goods and drive global adoption forward.
Oracles are essential within the Superchain ecosystem as they provide the necessary data and tools to scale new chains. API3’s Oracle Stack streamlines data integration, lowers technical barriers, and empowers developers to focus on building applications rather than grappling with infrastructure challenges.
Scaling a global on-chain financial system is a formidable task. However, Optimism’s Superchain thesis demonstrates that collaboration accelerates progress. Discover how API3 is fueling the Superchain ecosystem to bolster the next wave of growth and adoption.
The API3 Oracle Stack comprises decentralized data feeds from the API3 Market, a QRNG for generating truly random numbers on-chain, and the OEV Network to capture protocol MEV. These components are tailored to meet the needs of Superchain builders for seamless integration and scalability.
API3’s integration with new chains provides instant access to secure and decentralized data, crucial for applications that rely on real-time data like lending protocols and perpetual exchanges. This efficient Oracle service expansion to new networks is vital as it enables developers to swiftly transition from concept to production without extensive code modifications or infrastructure management.
In terms of adoption, Base, a prominent project in the Superchain ecosystem, has seen its total active users more than double to over 9 million this year. The Total Value Locked has tripled, surpassing $1.7 billion. Exiled Racers, a project on Base, utilizes API3’s QRNG for generating random events for on-chain races.
API3 has recently rolled out its Oracle Stack on Mode and Fraxtal, with Mode amassing over $500 million TVL and establishing a robust DeFi ecosystem. Fraxtal, developed by Frax Finance, has garnered early support from notable DeFi partners and is positioned to become a leading network for developing sophisticated financial protocols.
Looking to the future, API3 has confirmed its support for World Chain upon its launch later this summer. World Chain plans to leverage proof of personhood to offer verified users priority transactions and gas allowances. Protocols on World Chain will be able to leverage API3’s verifiable, decentralized data feeds integrated with the OEV Network to enhance protocol performance.