Bird.Money Partners With API3

Cryptograficos
OCADA AI (Formerly Bird.Money)
2 min readFeb 8, 2021

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Bird.Money is excited to announce our partnership with API3

We have established an integral technical partnership with the leading disrupter in blockchain oracle data delivery technology, API3. Bird.Money will be utilizing API3’s cutting-edge, first-party oracles to deliver our Trust Score across DeFi. By wrapping our off-chain oracle analytics in their Airnode technology, API3 will facilitate a wider adoption of our Trust Score. Additionally we’ll be utilizing API3’s dAPIs on our lending platform in order to obtain immutable price data—and potentially other forms of data — all in a truly decentralized and trust-less way.

About API3

API3 is completely breaking the paradigm for how immutable data is delivered to the blockchain. Their decentralized APIs (dAPIs) for Web 3 create powerful decentralized applications with API3’s decentralized governed and quantifiably secure data feeds. Eliminating third-party node operators, API3’s data feeds are protected by any tampering or vector attacks by middlemen effectively reducing the overall attack surface. Unlike typical blockchain oracles, which require a network of node operators to validate and deliver data on-chain, API3’s first-party oracles are wrapped at the source and the information is delivered directly in an immutable, reliable and trust-less way.

In addition to the game-changing method of delivering data to the blockchain, API3 also provides dAPI users with the option of on-chain insurance, powered by the API3 token and Kleros’ decentralized courts. This provides an insurable safety net in the event of any form of malfunction, holding the API3 DAO directly responsible for the security of the dAPIs, incentivizing a security-first governance approach for dAPIs and the API3 project as a whole.

About Bird.Money

Bird.Money is creating the mechanisms and instruments used to mitigate risk in the legacy financial system for DeFi. Partnering with API3 and utilizing their cutting-edge Airnode technology allows us to securely deliver our off-chain oracle Trust Score — the DeFi equivalent to the legacy financial system’s credit score — to lending platforms and protocols. The Trust Score helps manage risk to liquidity supply and borrow markets, ensuring the likelihood of loan repayments. It also gives borrowers with a prudent DeFi history the advantage of being able to leverage an increased collateralized debt position ratio (CDP) on their loans, above and beyond the standard 66%. Bird.Money is poised to be the leader in bridging the gaps between legacy and decentralized finance.

API3 Links:

Twitter — https://twitter.com/API3DAO

Telegram — https://t.me/API3DAO (Community Chat)

Discord — https://discord.gg/qnRrcfnm5W (Builder Chat)

Github — https://github.com/api3dao

Reddit — https://www.reddit.com/r/API3/

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Cryptograficos
OCADA AI (Formerly Bird.Money)

Web3, crypto & DeFi growth and operations scaling + go-to-market strategist with over 20 years of experience. I write about DeFi, Web3, ops and token economies.