API3 (API3) Introduction

1. Brief Introduction

API3 builds blockchain-native, decentralized APIs with DAO-governance and quantifiable security. 

2. Detailed Introduction

API3 connects decentralized applications with data and services offered by traditional Web APIs, thereby expanding the applicability of the blockchain without sacrificing decentralization. This will be achieved by dAPIs—fully decentralized and blockchain-native APIs—which will be set up, managed, and monetized at scale by the API3 DAO – a Decentralized Autonomous Organization which allows all stakeholders to participate in the governance of the project directly. This is achieved through the API3 token, which will grant voting power in the API3 DAO.

3. Token Allocation

• 30%  Founding Team
• 25%  Ecosystem Fund
• 20%  Public Distribution
• 10%  Partners & Contributors
• 10%  Seed Investors
• 5%  Pre-seed Investors

4. Token Information and Release Schedule

• Total Token Supply: 100,000,000 API3
• Circulating Supply: 20,422,000 API3 (Updated on 2020/12/22)
• Private Round Price: $0.30
• Public Round Price: $0.30 - $2.00

Release Schedule

• Founders (30M API3): Vest over 3 years* with a 6-month cliff**
• Ecosystem fund (25M API3): Supply subject to distribution by the DAO.
• Public (25M API3): Unlocked.
• Partners & Contributors (10M API3): Vest over 3 years with a 6-month cliff.
• Seed Investors (10M API3): Vest over 2 years.
• Prior Investors (5M API3): Vest over 2 years.

*All vested tokens are unlocked linearly, block-by-block.

**6-month cliff releases 16.67% of total vested tokens, after which the emission is linear, block-by-block, for the remainder of the vesting schedule.

5. Related links

• Official website: https://api3.org/
• Whitepaper: https://raw.githubusercontent.com/api3dao/api3-whitepaper/master/api3-whitepaper.pdf
• Social media
• Telegram: https://t.me/API3DAO
  
• Twitter: https://twitter.com/API3DAO
• Medium: https://medium.com/api3
• Github: https://github.com/api3dao

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error or omission. Huobi does not take responsibility for any resulting direct or indirect losses.