What Is The APIS (API)? Complete Guide & Review About The APIS

What Is The APIS (API)?

The APIS Protocol is a decentralized read and write platform designed to allow decentralized applications to function at a global scale. The network is layer-one and layer-two agnostic, allowing mainstream developers to manage complex interactions between their applications and Ethereum, Solana, Binance Smart Chain, Optimistic and ZK-Rollups, Filecoin, Helium, and future protocols should they garner significant adoption.

Considering the broad API market due to the abundance of public data that Web3 has generated, the APIS has found go-to-market edge in the NFT and gaming sub-sector of Web3, the hottest tech trends nowadays. With outstanding indexing and delivering data queries functions of The APIS protocol, The This is building customized dashboards acting as user interfaces for broader gaming community and their users.

The APIS Coin is able to deliver the fastest and precisest endpoints within Web3 domain to facilitate the visualization of related data, thus enhancing users’ experience and improving decision-making process to help you get a head start in the flourishing Web3 market.

How does The APIS work?

The APIS provides extensive data analytics for digital assets across all public blockchains, both layer-one and layer-two scaling solutions. Deep dive into your own data, presented through customized graphics and interfaces. Uncover publicly available data, deciphering trends to facilitate your decision-making and to keep you ahead of the market.

One-stop middleware solution provider

Decentralized querying and indexing services

Instant multi-chain capability

Product

HOOK

Hook helps our users visualize NFT asset and trading volume data in real-time, enabling our users to fully understand the trends in The NFT market and to keep them ahead of the market.

Data Lake

API Playground builds data lake infrastructure to index blockchain structure, semi-structured and unstructured data as the Web3 backbone.

Extensive Data

The APIS provides extensive data analytics for digital assets across all public blockchains, both layer-one and layer-two scaling solutions. They enable our users to visualize numerous characteristics of both NFT and DeFi assets, such as real-time NFT asset trading volume data, DeFi protocol revenue changes, and layer-one transaction fee data. They enable users to fully understand the trends in The NFT and broader crypto landscape, allowing them to make the best decisions possible and stay ahead of the market.

$API Token Utility

As referenced prior, the API token is designed to be superfluid, utilized for on-chain governance, off-chain governance (namely future product development), and five staking derivatives to ensure incentive alignment among all participants in the API protocol, namely the protocol’s service providers— API Governors, API Nodes and Gateways, API Rollup Validators, and API Dispute Resolvers—and its customers.

On-Chain Governance Rights

$API holders hold meta-governance rights over the entirety of the $API protocol. This is provided via the Governance Module, which governs all other API Smart Contracts, including the Governance Module itself (designed modularly), the Gnosis Multi-Signature Wallet that signs transactions on behalf the API Treasury, the $API ERC20 Contract, and API Staking Contracts.

Those that own or earn $API tokens maintain a voice over the entire APIS protocol and are incentivized to continue to govern through additional $API through the ve-API program, wherein a portion of future $API is given to those who stake and utilize $API to govern the protocol.

Treasury Governance Rights

After the initial API distribution is complete, all Treasury Governance Rights will be held by API token holders. The APIS Treasury will accrue numerous assets, such as intellectual property, trademarked brands, partner DAO tokens, tangible assets (such as servers and databases), stores of value (such as Ether and stablecoins, accumulated through the selling of APIS products), and the API token itself.

While there will be a specific Working Group to manage the Treasury, whose job will be to write Proposals for the allocation of the Treasury, all Treasury decisions must be approved by $API holders. Additionally, $API holders can vote to remove members from the Treasury Working Group.

Product Governance Rights

API’s Future Product Iterations and Launches. Ideas can be brought forth both the APIS Core Team and the greater APIS Community, which consists of both $API token holders and non-token holders. While non-token holders can participate in the Discord and Governance Forum (operated on Discourse if desired), they cannot vote on Snapshot with holding the $API token. Below is the sequence of events for Product Proposals, from start to finish. Proposers and voters may receive additional $API as rewards from the API Community Treasury.

The Ability to Act as a Service Provider to the API Network

There are five primary service provides to the API Network: API Governors, API Nodes and Gateways, API Rollup Validators, and API Dispute Resolvers. It is imperative that all API actors who could harm the network have API at stake, due to the well-researched nothing-at-stake problem set [27]. Acting as an API GovernorAPI Governors stake API in order to vote in the Governance Module, receiving additional API through the ve-API program. Governors receive the same amount of API, proportionate to their API stake, regardless of whether their vote was ratified or rejected, in order to incentivize all Governors to adequately express their beliefs on the future of the protocol. There is no threshold of API holdings to act as an API Governor.

Acting as an API Node or Gateway

The APIS Nodes and Gateways must stake a threshold—initially set to 10,000 API but to be ratified by API Governors—of $API tokens to become a service provider on the API Network. The purpose of their stake is to allow for slashing events, should the service provider act maliciously via generating faulty APIs to end-users. Slashing events are brought forth and settled by API Dispute Resolvers via the Dispute Resolution Factory.

Acting as a Dispute Resolver

When the accuracy of a service providers’ endpoint is disputed via the Dispute Resolution Factory, the party that initiates the dispute must also stake a threshold of API— initially set to 500 API but to be ratified by API Governors—on their claim. All $API slashes from either a faulty endpoint or faulty dispute is re-distributed to the participants who stood on the correct side of the dispute.

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