DAOrayaki DAO Research Grant:

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting Result:DAO Committee Yes

Grant Amount:200 USD

Category: Decentralized,cryptocurrency ,dApps

Contributor:Julie,DAOctor @Daorayaki

1、融资

当前价格:$2.91USD.(2021.7.22)

总量:100,000,000 API3

总市值:$123,004,472

成交量:$14,221,795

代币名称:API3

代币类型:ERC-20

2、Project Summary 项目总览

随着去中心化应用开始在去中心化金融等领域提供有意义的服务,这些应用越来越需要使用传统的Web API来接收数据或触发事件。但是,由于过于笼统和误导性,通用预言机解决方案无法正确解决API连接问题。为了解决此问题,API3将推动协作以创建新一代的区块链原生、去中心化API(简称dAPI)。

dAPI由API提供商运营的第一方预言机组成,因此比采用中间人的替代解决方案更安全、更具成本效益。该方案的治理、安全性和价值获取机制的核心将是 API3代币。对代币进行质押将授予其持有者对API3 DAO的全部管理权以及所有相关激励。被质押的API3代币将用作链上保险服务的抵押品,该链上保险服务将为dAPI用户提供可量化且去信任的安全保证。这些机制将消除在生态系统层面的中央权威机构的需求。

因此,API3项目将允许智能合约平台利用API,以真正去中心化和信任最小化的方式来构建有意义的应用。

3、团队成员

l Heikki Vanttinen——创始人

他撰写了大量有关该项目及其希望实现的目标的文章。之前曾在 CLC Group 担任创始人兼首席执行官,这是一家区块链实验室,“为更加无需信任、高效和安全的开发与现实世界相连的智能合约解决方案。”Vanttinen 还曾担任 Zippie的首席营销官,Zippie 是一个旨在帮助区块链技术实现主流采用的移动操作系统。

l Burak Benligiray ——创始人

他曾在 CLC 集团工作,担任 CTO。Benligiray 之前曾写过文章强调 ChainAPI 的优点,ChainAPI作为 API3 的集成平台。

l Saša Milić——联合创始人

除了在多伦多大学担任课程讲师,还向计算机科学专业的学生教授核心课程,她还担任 Facebook 的软件工程师,以及 Gauntlet 的仿真数据科学家。

4、治理和激励机制

1.Airnode

1.功能:

Airnode是一个完全无服务器的预言机节点,专门用于API提供商来运营自己的预言机。它解决了与预言机节点相关的问题:

1. 它不需要任何特定的专业知识。实际上,由于Airnode被设计为完全设置并可以忘记,因此甚至很难说是运营。

2. 由于现有的完全托管的无服务器技术,因此不需要任何日常维护,例如更新操作系统或监视节点的正常运行时间。它被设计为无状态的,这使其对任何可能导致永久性停机,并需要节点运营商干预的问题具有极强的弹性。

3. 它建立在按需定价的服务之上,这意味着节点运营商的收费仅与使用其节点时的收费相同。这样,任何API提供商都可以免费运行预言机,并仅在开始产生收入后才开始付费。

4. 它完全不需要节点运营商来处理加密货币。其协议的设计方式使请求者可以负担所有GAS费用。

看待Airnode的一种方法是将其作为Web API的轻量级封装,使其能够与智能合约平台进行通信,而不会产生开销或支付代币的麻烦。关于API提供商要求的参与程度,使用Airnode可以比作使用API网关,该网关使API可以通过Web进行访问,而不是将区块链节点作为副业来运营。实际上,他们的目标是使Airnode像使用API网关一样成为API的无处不在和平凡,这将使 API3可以使用大量的第一方预言机。

2.Airnode协议

Airnode协议旨在遵循API使用的自发模式,以实现尽可能透明和无摩擦的API智能合约平台界面。

·请求—响应模式

在该模式中,用户使用参数进行请求,并且API会尽快响应。这将是Airnode支持的第一种模式,因为它很容易与遵循相同模式的现有 API进行标准化和集成。该方案的示例用例将是请求传递特定匹配的结果,该结果可用于解析相应的预测市场。

·发布—订阅模式

即当满足参数化条件时,用户请求预言机回调特定的方法。例如,当以太坊价格跌至400美元以下时,去中心化交易所可能会要求预言机为处于杠杆位置的用户触发清算事件。

这两种模式都可以用来实现DeFi应用今天使用的实时数据馈送,但是它们也可以以dAPI的形式支持更大范围的用例。

2.通过通证经济的去中化治理

API3 DAO

为了去中心化dAPI和整个项目的治理,API3将由DAO治理。治理将完全去中心化和开放,这意味着所有权益持有人将能够直接参与项目的治理。

DAO将就涉及奖励和抵押等机制的高级参数进行投票。此外,DAO将从DAO银行提供赠款,从而决定项目的总体方向。将通过分层的团队结构进行更细化的任务,以实现可扩展性的治理。

预期的工作流程是使人们组成链外团队,并申请拨款来执行一次性项目或持续运营,这将有利于API3。团队使用具有团队成员分配为用户的多重签名进行拨款申请,如果接受了拨款提议,则DAO将资金授予多重签名。此外,DAO可以授权团队多重签名根据所分配的任务进行特定交易,例如,为各个用户设置dAPI订阅费用。

技术补助示例如下:

● Airnode、dAPI合约、API3 DAO合约的技术开发

● API3的前端开发(抵押、保险等)

● 开发API3生态系统项目

● 集成新的API、dAPI用户、智能合约平台

● 针对特定API和dAPI的统计和定性风险评估

● 管理dAPI

● 通过文章、教程、视频拓展开发人员

● 技术和安全审核

● 设置漏洞赏金计划,黑客马拉松等。

还可以通过赠款来执行大量非技术任务:

● 业务发展以查找新的API提供商、dAPI用户

● 特定dAPI用户的订购和保险定价

● 运营和财务审计

● 交付过程

● UI/UX设计

● 市场营销

● 法律顾问

dAPI货币化

API订阅费通常按月或按年支付,因为此方案适用于API提供商及其客户。为了获得对dAPI的访问权,用户将支付定期订阅费用,该费用可以根据特定的使用情况为用户固定或定制。支付将能够以任何加密货币进行,DAO将通过基于流动性池的去中心化交易所以API3代币形式接收。

API提供商补偿

API提供商将定期获得固定的报酬,这将适合其现有的定价模型。这将尽可能使用稳定币来完成,但如果某些API提供商明确拒绝将加密货币作为支付处理。在这种情况下,DAO将提供一笔补助金,作为对API提供者由被授予者以法定形式补偿的证据的回报。

API3通证经济

去中心化治理需要建立良好平衡的激励机制,以准确地模拟正面和负面结果。换句话说,治理实体的好结果应该得到奖励,坏的结果应该受到惩罚。

API3代币旨在通过以下三个主要实用程序来实现此目的:

1. 质押:

授予dAPI收入和通货膨胀奖励。

2. 抵押品:

支持保险服务,以保护用户免受dAPI故障造成的损失。

3. 治理:

授予在API3 DAO中的直接代表。

质押业务为加入API3并增加收入做出了财务激励。质押工具使参与者共享API3的运营风险,并激励他们将其最小化。最后,治理实用程序为参与者提供了制定这些激励措施的最终手段。

API3代币的质押和保险抵押工具可实现平衡的治理激励。

(a)为dAPI加载更多用户会增加支付保险索赔的概率,这会产生负面反馈并平衡系统。

(b)由于系统的平衡性质,dAPI负载不会无限期增加,但会稳定在DAO估计的水平,低于dAPI可以支持的最大负载。

治理

在API3 DAO上获得代表权的唯一方法是将API3代币质押到保险抵押品池中。 因此,治理方将承担API3的所有风险和回报,并将进行治理优化。

通胀奖励和被质押的治理代币被用作抵押品,将在治理质量方面产生积极的反馈循环。初始代币持有者如果不想因通货膨胀而失去价值,就必须质押并承担风险。如果它们治理不当并通过保险索赔损失了抵押品,这些代币将被返回到公开市场,新治理方将从那里获取它们。相反,如果初始代币持有者治理得当,并导致市场上的代币稀缺,代表分发将受到保护。

API3 代币

1.代币分配

2.代币归属

l 创始人:归属超过3 年*,有 6 个月的断崖。

l 合作伙伴和贡献者:归属超过 3 年*,有 6 个月的断崖。

l 种子投资者:归属超过 2 年。

l 以前的投资者:归属超过 2年。

l 公开:解锁。

l 生态系统基金:供应由 DAO 分配。

3.通过保险可量化的安全性

API3将以链上保险服务的形式为dAPI用户提供可量化的安全级别。

这实现了两个目标:

(1) 在dAPI故障的情况下,该保险为用户提供了一个明确且去信任的安全网络;

(2) 它让治理方 对dAPI故障负责,从而激励他们朝着更安全的dAPI方向治理。

dAPI保险

API3将与Kleros共同开发链上保险服务,该服务将为dAPI用户提供可量化和去信任的安全保证。

拟议的保险服务的特殊之处在于,它由API3DAO治理方所质押的资金作为抵押。因此,它不仅为dAPI用户提供了安全保证,而且还为 dAPI的安全性最大化创造了一个非常强烈的动机,这将进一步降低保险成本。

4、联系方式:

Official website—https://api3.org/

Twitter — https://twitter.com/API3DAO

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

Keybase — https://keybase.io/team/api3 (Developer Chat)

Github — https://github.com/api3dao

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

Medium — https://medium.com/api3

DAOtalk — https://daotalk.org/c/daos/api3-dao/37

API3 DAOv1:Decentralized APIs for Web 3.0

DAOrayaki DAO Research Grant:

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting Result:DAO Committee Yes

Grant Amount:200 USD

Category: Decentralized,cryptocurrency ,dApps ,DeFi

,Oracles,Coinfund Portfolio,DCG Portfolio

Contributor:Julie,DAOctor @Daorayaki

Financing:

current price:$2.91USD.(2021.7.22)

total volume:100,000,000 API3

Market Cap:$123,004,472

Trading Volume:$14,221,795

Token name:API3

Token type:ERC-20

1、Project Summary

With decentralized applications beginning to provide meaningful services in areas such as decentralized fifinance, there is an increasing need for these applications to receive data or trigger events using traditional Web APIs. However,the generic oracle solutions fail to appropriately address the API connectivity problem due to an over-generalized and misguided approach. To remedy this issue, API3 will drive a collaborative effffort to create a new generation of blockchain-native, decentralized APIs, or dAPIs for short.

dAPIs are composed of fifirst-party oracles operated by API providers, and thus are more secure and cost-effiffifficient than alternative solutions that employ middlemen. At the core of the governance, security, and value capture mechanics of this initiative will be the API3 token. Staking the token will grant its holders full governing rights over the API3 DAO along with all the associated rewards. Staked API3 tokens will be used as collateral for the on-chain insurance service that will provide quantififiable and trustless security guarantees to dAPI users. These mechanics will remove the need for a central authority at the ecosystem level.

As a result, the API3 Project will allow smart contract platforms to leverage APIs for the building of meaningful applications in a truly decentralized and trust-minimized way.

2、Team members

l Heikki Vanttinen——Founder

He has written extensively about the project and what it hopes to achieve. He previously worked as founder and CEO at CLC Group, a blockchain lab “developing real-world connected smart contract solutions for a more trustless, efficient and secure future.” Vanttinen also served as chief marketing officer at Zippie, a mobile operating system that aims to help blockchain technology achieve mainstream adoption.

l Burak Benligiray ——Founder

He worked at CLC Group, serving as CTO. Benligiray has previously written posts highlighting the merits of ChainAPI, which serves as the integration platform for API3.

l Saša Milić——co-founder

As well as serving as a sessional lecturer at the University of Toronto, where she taught core curriculum courses to computer science students, she’s also worked as a software engineer for Facebook, and as a simulation data scientist for Gauntlet.

3、Governance and Incentive mechanisms

1. Airnode

Airnode features:

Airnode is a fully-serverless oracle node that is designed specifically for API providers to operate their own oracles. It addresses the oracle node-related problems:

1)It does not require any specific know-how to operate. In fact, it is difficult to even speak of an operation, as Airnode is designed to be completely set and forget.

2)It does not require any day-to-day maintenance such as updating the operating system or monitoring the node for uptime owing to existing fully managed serverless technology. It is designed to be stateless, which makes it extremely resilient against any problem that can cause permanent downtime and require node operator intervention.

3)It is built on services priced on-demand, meaning that the node operator is charged only as much as their node is used. This allows any API provider to run an oracle for free and start paying only after they start generating revenue.

4)It does not require the node operator to handle cryptocurrency at all. Its protocol is designed in a way that the requester covers all gas costs.

Airnode protocol:

Airnode protocol is designed to follow the self-emergent patterns used by APIs to achieve as transparent and frictionless of an API–smart contract platform interface as possible.

1)request–response pattern

where the user makes a request with parameters and the API responds as soon as possible. This will be the first pattern that Airnode will support, as it is easy to standardize and integrate with existing APIs that follow the same pattern. An example use case of this scheme would be requesting the result of a specific match to be delivered, which can be used to resolve the respective prediction market.

2)publish–subscribe pattern

where the user requests the oracle to call back a specific method when parametrized conditions are met.For example, a decentralized exchange may request the oracle to trigger a liquidation event for a user in a leveraged position when ETH price drops below $400.

Either of these patterns can be used to implement the live data feeds that DeFi applications use today, but they can also support a much larger variety of use cases in the form of dAPIs.

2. Decentralizing Governance through Tokenomics

API3 DAO

To decentralize the governance of both dAPIs and the project as a whole, API3 will be governed by a DAO. The governance will be entirely decentralized and open, meaning that all stakeholders will be able to participate in the governance of the project directly.

The DAO will vote on high-level parameters regarding mechanics such as staking incentives and collateralization. Additionally, the DAO will give out grants from the DAO bank and by consequence decide on the general direction of the project. More granular tasks will be conducted through hierarchical team structures for scalable governance.

The expected workflow is for people to form off-chain teams and apply for grants to execute one-time projects or continuous operations that will benefit API3. The team makes the grant application with a multisig that has the team members assigned as users , and the DAO grants the funds to the multisig if the grant proposal is accepted. Furthermore, the DAO may authorize the team multisig to make specific transactions depending on the assigned task, e.g., setting dAPI subscription fees for individual users.

Examples of technical grant subjects can be listed as follows:

l  Technical development of Airnode, dAPI contracts, API3 DAO contracts

l Frontend development for API3 (staking, insurance, etc.)

l  Development of API3 ecosystem projects

l Integration of new APIs, dAPI users, smart contract platforms

l Statistical and qualitative risk assessment for specific APIs and dAPIs

l Managing dAPIs

l Developer outreach through articles, tutorials, videos

l  Technical and security audits

l Setting up bug bounty programs, hackathons, etc.

There is also an abundance of non-technical tasks that will be carried out through grants:

l Business development to find new API providers, dAPI users

l Subscription and insurance pricing for specific dAPI users

l Operational and financial audits

l Payment processing

l UI/UX design

l Marketing

l Legal counsel

dAPI monetization

API subscription fees are commonly paid monthly or annually, as this scheme suits both API providers and their clients.To gain access to a dAPI, the user will pay a recurring subscriptionfee, which may either be fixed or customized for the user based on the specific use case.The payment will be able to be made in any cryptocurrency, which will be received by the DAO in API3 tokens through a liquidity pool-based decentralized exchange.

API provider compensation

API providers will be compensated periodically at fixed rates, which will fit their existing pricing models. This will be done using stablecoins wherever possible, But if some API providers categorically reject handling cryptocurrency as payment. In such cases, the DAO will provide a grant that will be paid out in return of the proof that the API provider is compensated in fiat by the grantee.

API3 tokenomics

Decentralized governance requires well-balanced incentive mechanisms that accu?rately model both positive and negative outcomes. In other words, the governing entities should be rewarded for good results and penalized for bad ones.

The API3 token is designed to facilitate this through three main utilities:

1)Staking:

Grants dAPI revenue and inflationary rewards.

2)Collateral:

Backs insurance services that protect users from damages caused by dAPI malfunctions.

3)Governance:

Grants direct representation in the API3 DAO.

The staking utility provides a financial incentive for participating in API3 and con?tributing to increase its revenue. The collateral utility has the participants share API3’s operational risk and incentivizes them to minimize it. Finally, the governance utility gives the participants the ultimate instrument to enact these incentives.

Staking and insurance collateralization utilities of the API3 token results in balanced governance incentives.

(a) Loading the dAPIs with more users increases the likelihood of paying out insurance claims, which produces negative feedback and balances the system.

(b) Due to the balanced nature of the system, the dAPI load does not increase indefinitely, yet settles at a level that the DAO estimates as being below the maximum load the dAPIs can support.

Governance

The only way to gain representation at the API3 DAO will be to stake API3 tokens in the insurance collateral pool. As such, the governing parties will be exposed to all risks and rewards of API3, and will govern to optimize them.

Inflationary rewards and the staked governance tokens being used as collateral will create a positive feedback loop in terms of governance quality. Initial token holders will have to stake and expose themselves to risk if they do not want to lose value to inflation. If they misgovern and lose collateral through insurance claims, these tokens will get returned to the open market, from where they will be acquired by new governing parties. In contrast, if initial token holders govern well and cause token scarcity in the market, the representation distribution will be protected.

API3 Token

1.Token Allocations

2.Token Vesting

l Founders: Vest over 3 years* with a 6-month cliff.

l Partners & Contributors: Vest over 3 years* with a 6-month cliff.

l Seed Investors: Vest over 2 years.

l Prior Investors: Vest over 2 years.

l Public: Unlocked.

l Ecosystem fund: Supply subject to distribution by the DAO.

3.Quantififiable Security through Insurance

API3 will provide dAPI users with a quantifiable level of security in the form of an on-chain insurance service.

This accomplishes two goals:

(1) the insurance acts as a well-defined and trustless safety net for the user in case of a dAPI malfunction,

(2) it holds the governing parties responsible for dAPI malfunctions, and thus incentivizes them to govern towards more secure dAPIs.

dAPI Insurance

API3 will co-develop an on-chain insurance service with Kleros that provides quan?tifiable and trustless security guarantees to dAPI users.

The proposed insurance service is special in the way that it is collateralized by the funds staked by the governing parties of the API3 DAO. Therefore, it not only provides security guarantees to the dAPI user, but also creates a very strong incentive for dAPIs to be governed in a way that their security is maximized, which will further decrease insurance costs.

4、Contact Information

Official website—https://api3.org/

Twitter — https://twitter.com/API3DAO

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

Keybase — https://keybase.io/team/api3 (Developer Chat)

Github — https://github.com/api3dao

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

Medium — https://medium.com/api3

DAOtalk — https://daotalk.org/c/daos/api3-dao/37


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