OptionRoom partners with API3 to provide OaaS data feed to API3 Airnode integrated blockchains
We are excited to announce that OptionRoom and API3 partner to use the OptionRoom Oracle as a data provider to the API3 ecosystem. API3 and OptionRoom will also explore avenues of collaboration around OptionRoom acting as an arbitration service for a future Polkadot-based API3.
With the help of the API3 team OptionRoom will be deploying an Airnode enabling access to the OptionRoom OaaS (Oracle as a Service) for all Airnode integrated blockchains. The OaaS will help fill the gaps of traditional oracles providing a wider range of data to blockchain projects. We hope this partnership will shed more light on the importance of truly decentralised oracles and their role in the blockchain space.
In addition, the two projects will be further exploring using the OaaS as an arbitration service for a future Polkadot-based API3 sub-DAO.
This mutually beneficial partnership will bring more use cases to the OptionRoom OaaS solution and help API3 provide a wider range of data on its network.
“You don’t need to look further than API3’s own governance and data feed insurance model to realize the crucial nature that on-chain arbitration is going to play in growing the Web 3.0 ecosystem. Here, OptionRoom provides an exciting, governance consensus-driven solution to this ubiquitous challenge, and we are happy to extend their addressable market beyond just Polkadot, by providing them with Airnode-enabled cross-chain connectivity.”
Heikki Vänttinen, Co-Founder API3
“We are excited about this partnership between API3 and OptionRoom as it sheds more light on the importance of truly decentralized oracles and the role they play in the blockchain sphere. This partnership will make future OaaS onboardings easier due to the seamless integration that API3 provides.”
Marsel Adawi, CEO, OptionRoom
API3 builds decentrally governed and quantifiably secure data feeds that power Web 3.0 applications without employing third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPI’s are fully decentralized and blockchain-native APIs with quantifiable security.
OptionRoom is a user governed oracle and forecast protocol built on Polkadot. OptionRoom has the ability to serve as a OaaS — Oracle as a Service where oracle requests are solved by governance. Oracle requests cost a fee and a solution incentive paid in ROOM, rewarded to request solvers. OptionRoom allows users to create and participate in event derivatives that are pegged to real world outcomes by governance consensus.