December 6, 2022

API3 to offer oracle information to decentralized asset management organization HAI

2 min read

API3, a provider of decentrally governed and quantifiably secure information feeds that power Web 3.0 apps without employing third-party intermediaries, revealed today its newest partnership with Hedge Against Inflation (HAI) DAMO (Decentralized Asset Management Organisation).

Hedge Against Inflation is a job developed to minimize the risks related to the volatility inherent in crypto markets. API3 will be supplying Airnode-enabled API data and dAPIs to allow this.

HAI DAMO means to provide investors with access to on-chain ETFs that hold the top-performing assets in different locations of the crypto space. Having access to these baskets of assets makes it much easier for beginner financiers to get direct exposure to a great deal of tokens all at once, hedging the danger of individual jobs failing.

The production of crypto-asset ETFs will for that reason decrease barriers to entry experienced by brand-new investors, while likewise contributing to the maturity of crypto as an asset class.

API3 to power HAI’s decentralized financial investment lorries. DAMO Structured as a DAMO, which is a DAO-operated property management organization, HAI token holders will have control over the contents of the ETFs and the protocol handling them. Initially, HAI will develop 5 ETFs, each covering a various part of the cryptocurrency community; bluechip tasks, DeFi, NFTs, development, and stablecoins. The adaptability of API3’s Airnode-enabled APIs will assist provide accurate prices information for these properties.

“API3 was a clear choice in comparison to alternative oracle providers. API3’s Airnode protocol implements responsibility on behalf of the service providers while using similar pricing mechanisms to standard APIs. Low-cost gas costs and trustworthy information will enable HAI DAMO to more actively optimize our tokenized ETFs.”
– – Hunter MacDonald, HAI DAMO Co-Founder

Furthermore, the collaboration with HAI will likewise provide API3 token holders a stake in governing HAI.

“There is a pretty high knowing curve for individuals new to the cryptocurrency area. Genuinely decentralized crypto-related ETFs will assist trustlessly lower barriers of entry into blockchain for financiers; and API3 is thrilled to be dealing with HAI DAMO to produce these ETFs”
– – Heikki Vänttinen, API3 Co-Founder

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