API3 to Update dAPIs Subscription Politics on March 31st
API3 has announced a significant change for users of its dAPIs. Until now, dAPIs with no active subscriptions have been directed to self-funded Nodary feeds. However, this practice will cease on March 31st.
Users who are utilizing a DapiProxy contract are advised to take note of these changes as they may be affected.
Refer to the official tweet by API3:
API3@API3DAOMac 25, 2024â„¹ï¸ Important Update for API3 Market Users
API3 has been pointing dAPIs with NO ACTIVE subscriptions to self-funded Nodary feeds.
This will change on March 31. 🗓ï¸
If you're utilizing a DapiProxy contract, please read on, as these changes may impact you.
Is my dApp impacted by… pic.twitter.com/Jjdcz1FfxB
API3 Info
API3 is a project that focuses on delivering traditional dAPI services for Web3 applications. The project is governed by a decentralized autonomous organization (DAO), specifically the API3 DAO.
Traditional API services are centralized, meaning they are owned and controlled by individual companies or organizations. This creates a range of issues in terms of transparency, security, and reliability. API3 addresses these problems by offering fully decentralized APIs.
The API3 token is used within the project's ecosystem as a means to incentivize network participants, including node operators and developers, to engage in voting and DAO governance.