API3 Ecosystem: API Deployment
dxFeed has deployed API3’s Airnode to provide Web3 applications with a range of price reference data
dxFeed’ currently provides real-time market data to multiple Web2 APIs within the global financial industry. Implementing API3’s Airnode will allow dxFeed to provide price reference data to various Web3 consumers in a transparent and efficient manner.
dxFeed is recognized as a leading market data and services provider in global capital markets. The company’s primary focus is delivering financial information and services to various trading institutions. With Airnode’s deployment, dxFeed reveals its interest in serving Web3 on top of its 6m end users & 200k customers in Web2.
In short, Airnode enables dxFeed to operate a first-party oracle, thus enabling requests for data directly from the source. It also empowers dApps by providing a transparent, scaleable, alternative to a middle-node operated third-party architecture.
Since dxFeed is engaged in both DeFi and traditional finance, it is uniquely positioned to facilitate their interplay. With this in mind, dxFeed joined the API3 Alliance last summer to help bridge the gap between traditional finance and the emerging blockchain-enabled economy.
Why high quality price reference data is important to Web3
Stablecoins are increasingly important within the DeFi realm, as they’re frequently used to bridge traditional and crypto economies.
Consequently accurate price reference data for DeFi is essential for sustaining investor confidence across stablecoins, lending, swaps, yield farming, moneymarkets and a wide array of other services. Additionally many of dxFeed’s 2.5m instruments (equities, futures, options indices, FX, crypto, etc.) can be used within new Open Finance applications.
Likewise, on-chain foreign exchange-like markets can utilize the comprehensive range of Forex to power a global exchange market. These markets are increasingly facilitating international remittance and cross-border payments, all now possible via an efficient and transparent first-party oracle.
API3 looks forward to exploring how dxFeed’s Airnode deployment can add value to these various protocols & dApps.
API3 summary
API3’s Airnode is laying the foundations for the first-party architecture to be the Oracle solution for Web3 Applications requiring transparent & secure data for execution in smart contracts. Delivered first-party means decentralized application developers & entrepreneurs can understand the source and reputation of the price reference data.
As such we are thrilled to see dxFeed utilize Airnode to serve its highly reputable API endpoints on-chain via an architecture that can achieve scale for Web3 developers.
To access dxFeed you can now submit an API Access Request on the API3 catalog here.
“We are committed to participation in the mission we share with API3 to liberate the information potential of blockchain by bringing more high quality, institutional sourced data to blockchain connected environments such as smart contracts and DeFi and to help the next generation of the web to reach its potential.
— Oleg Solodukhin, CEO of dxFeed
“The API3 Alliance represents the first incarnation of the burgeoning community of API providers utilizing API3’s Airnode oracle middleware to offer services, which, already proven on the traditional web, can now be made accessible to the decentralized Web3 ecosystem at scale,”
— Heikki Vänttinen, co-founder of API3
Access APIs:
Web3 API Catalog | Developer Hub | Discord
About API3
API3 is the leading first-party oracle solution that makes real-world data accessible by smart contracts. With Airnode, blockchains can query API data without using specialist node-operating middlemen. This architecture both eliminates the Sybil-vulnerable third-party node layer and reduces fees by cutting out the “middleman tax” paid to these node operators for their services. API3 is the perfect fit for any blockchain-based data service seeking to sell directly to consumers (since it leaves out node-operating middlemen).
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About dxFeed
dxFeed is a leading market data and services provider and calculation agent for the capital markets industry. Its primary focus is delivering financial information and services to buy–and sell–side institutions in the global markets industry, both traditional and crypto. dxFeed serves brokerages, prop traders, exchanges, individuals (traders, quants, and portfolio managers), and academia (educational institutions and researchers). The company currently provides market data to 6-million end-users and 200,000 simultaneous streaming clients via 2.5+ million instruments (equities, futures, options, indices, FX, crypto, etc.)
