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

The APIS Storage Key Points

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 the 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 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 the 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.

They allow users to

1) deep dive into their own data,

2) uncover publicly available data,

3) set alerts to easily stay on top of the NFT and Web3 markets, and

4) build dashboards presented containing customized graphics and interfaces.

$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.

$API Token Distribution

The APIS Protocol launched its mainnet on January 2022. They already finished our Liquidity Bootstrapping Pool (LBP), and so would like to re-post the API’s current distribution, as transparent token distributions are crucial for long-term incentive alignment and value creation in Web3.

Our token economy: We conducted a token split, adjusting the total supply of API from 100mn to 1bn. There will be 1 billion API Tokens released unless the community votes to inflate the supply via additional incentivization programs or deflate the supply via token burn programs.

79% of the token supply is allocated toward the community, with 50.34% to the users of the network via a usage mining program, 17% to API Foundation (established for strategic partnerships, namely prominent Web 2.0 or Web 3.0 applications).