What DeFi Needs are Faster and More Trustworthy Oracles – CryptoMode

API3 is a unique blockchain oracle that eliminates third-party intermediaries to deliver data to blockchains.

API3 helps you call any Web3 API directly from a smart contract. It uses first-party data feeds called beacons to deliver data to smart contracts. API3 claims they are transparent, cost-efficient and scalable ways to feed data into smart contracts.

The platform also has its token API3 but is controlled by a DAO, reducing any risk of ulterior motives.