Mastering the API3 Oracle Stack
An In-Depth Developer Workshop Series with API3 and Layer 2 Chain Partners
Oracles are core blockchain infrastructure required for powering the growing Layer 2 DeFi ecosystem. This summer, API3 is collaborating with multiple Layer 2 networks to present a comprehensive developer workshop series focused on the role of oracles in building blockchain applications, such as lending protocols and perpetual exchanges. Hosted with leading blockchain partners, this series equips developers with the expertise needed to seamlessly integrate oracle services into their applications, from fundamental concepts to advanced implementations.
This developer series is designed around an interactive learning approach to empower builders with essential knowledge and skills to build the next generation of decentralized applications. Participants will gain hands-on experience with the API3 Oracle Stack, learning to deploy powerful oracle solutions efficiently and effectively.
Layer 2 networks offer a wide range of benefits that make it an attractive choice for developers to build their applications. By providing a secure network with scalable infrastructure, Layer 2’s simplify integration and offer high transaction speed with low gas fees, making them an optimal choice for developers.
Level up your skills by building your toolkit to include:
- Seamless integration of API3 data feeds
- Mastery of cross-codebase adaptors
- In-depth understanding of oracle architecture and OEV Network operations
- Skills in identifying liquidation opportunities and bidding for them
- Deployment and management of Aave fork
- Advanced strategies for flash loans, liquidations, and effective debt management
- And much more!
Workshop 1: Fundamentals of API3 Oracle Stack
Objective: Gain foundational knowledge on integrating API3 data feeds into smart contracts and using adaptors for seamless integration.
Key Learning Points:
- Introduction to API3: Understand the basics about the API3 Oracle Stack
- Integrating API3’s decentralized data feeds: Learn the step-by-step process to integrate API3 feeds into your smart contract.
- Using Adaptors: Discover how to use adaptors to incorporate API3 oracles from different code bases without the need for extensive code refactoring.
Skills Acquired:
- Integration of API3 data feeds.
- Using adaptors for cross-codebase oracle integration.
Watch a video from a recent workshop with Metis Chain:
Workshop 2: Dive into Oracle Extractable Value (OEV)
Objective: Deep dive into the mechanics of oracles, focusing on the OEV Network and API3 Price Feed updates.
Key Learning Points:
- Push vs. Pull Oracles: Understand the differences and applications of push and pull oracle architectures.
- Introduction to the OEV Network: Learn about the OEV Network’s role in creating an efficient market for oracle updates.
- API3 Price Feed Updates: Master the process of updating an API3 Price Feed.
- Bidding on the OEV Network: Learn how to bid within the OEV Network, win bids, and update price oracles effectively.
Skills Acquired:
- Understanding of oracle architecture.
- Practical knowledge of the OEV Network.
- Competence in updating price feeds and participating in network bidding.
Workshop 3: Learn How to Deploy Aave
Objective: Equip participants with the skills to deploy and manage Aave, leveraging the OEV Network for efficient liquidations.
Key Learning Points:
- Deploying Aave: Learn to deploy Aave using a built-in CLI tool on your network.
- Liquidating Positions: Understand how to liquidate positions using the OEV Network.
- Monitoring and Discovering Profits: Learn to monitor available positions, identify profitable opportunities, and act on them.
- Bidding and Price Updates: Gain expertise in bidding on the OEV Network and updating prices.
Skills Acquired:
- Aave deployment.
- Position liquidation.
- Profit discovery and monitoring.
- Network bidding and price updating.
Workshop 4: Learn How to Use Flash Loans for Liquidation Strategies
Objective: Explore the advanced concept of flash loans, integrating knowledge from previous workshops to perform complex financial operations.
Key Learning Points:
- Performing Flash Loans: Learn the mechanics of executing flash loans from borrowing and lending platforms.
- Comprehensive Liquidations: Combine skills from all three previous workshops to perform liquidations with flash loans.
- Debt Management: Discover techniques to pay off significant amounts of debt with no financial cost.
- Maximizing OEV Potential: Uncover the full potential of the OEV Network in flash loan operations.
Skills Acquired:
- Execution of flash loans.
- Advanced liquidation strategies.
- Effective debt management using OEV.
- Comprehensive understanding of OEV potential in financial operations.
This workshop series provides a structured path from foundational knowledge to advanced techniques in utilizing the API3 Oracle Stack for building next-generation applications.
By mastering these skills, developers will be fully equipped with practical skills and a deep understanding of blockchain oracle solutions, preparing them to enhance existing projects or build new, innovative solutions.
For more information on upcoming courses or to view existing workshops, join our Discord and visit the #dev-support in the Developer Hub.
