## API3 (API3) คืออะไร

Smart contracts มักมีปัญหาในการเข้าถึงข้อมูลที่เชื่อถือได้ แต่อินเทอร์เฟซการเขียนโปรแกรมแอปพลิเคชัน ([API](https://coinmarketcap.com/alexandria/glossary/api)) ได้รับการขนานนามว่าเป็นวิธีในการแก้ไขปัญหาดังกล่าว

เป้าหมายของ API3 ที่ระบุไว้ คือการอนุญาตให้สร้าง จัดการ และสร้างรายได้จาก API เวอร์ชันกระจายศูนย์ในระดับต่างๆ เนื่องจากเทคโนโลยีบล็อกเชนมีบทบาทที่มากขึ้นในระบบเศรษฐกิจ — ตั้งแต่การเงินแบบกระจายศูนย์ไปจนถึงการจัดการซัพพลายเชน — ทีมงานที่อยู่เบื้องหลังโครงการนี้กล่าวว่า สัญญาอัจฉริยะช่วยส่งมอบ “ข้อมูลที่ทันเวลาและน่าเชื่อถือในโลกแห่งความเป็นจริง”

มีการเปิดเผยไวท์เปเปอร์ของ API3 ได้รับการในเดือนกันยายน พ.ศ. 2563 และกล่าวถึงปัญหาหลักที่เกี่ยวข้องกับ API ในปัจจุบัน นั่นคือการเชื่อมต่อ ในปัจจุบัน ไม่มีวิธีใดที่ smart contracts จะสร้างการเชื่อมต่อโดยตรงกับ API — และสิ่งนี้ได้นำไปสู่การได้รับความนิยมอย่างล้นหลามของออราเคิล

แม้ว่าสิ่งนี้จะช่วยแก้ปัญหาได้ในระดับหนึ่ง แต่ตั้งแต่นั้นเป็นต้นมาอุตสาหกรรมก็ต้องต่อสู้กับ "ปัญหาของ Blockchain Oracle" Oracles เป็นมิดเดิลแวร์รูปแบบหนึ่งที่อยู่ระหว่าง API และ smart contracts — ซึ่งถือเป็นการเพิ่มต้นทุนและทำให้เกิดการรวมศูนย์ API3 ตั้งใจที่จะแก้ไขปัญหานี้โดยเปิดให้ผู้ให้บริการ API ดำเนินการโหนดของตนเองได้

ได้มีการเริ่มใช้งานโทเค็นของ API3 เมื่อต้นเดือนธันวาคมหลังจากการขายโทเค็นสามารถสร้างรายได้หลายสิบล้านดอลลาร์

### ใครคือผู้ก่อตั้ง API3

API3 เกิดจากการรวมตัวของคนสามคน คนแรกคือ Heikki Vanttinen ผู้เขียนเนื้อหาที่เกี่ยวกับโครงการและสิ่งที่มันหวังว่าจะบรรลุผล ก่อนหน้านี้เขาเคยทำงานเป็นผู้ก่อตั้งและ CEO ของ CLC Group ซึ่งเป็นแล็บบล็อกเชนที่ "พัฒนาโซลูชัน smart contract ที่เชื่อมต่อในโลกแห่งความจริงเพื่ออนาคตในการทำงานอย่าง trustless มีประสิทธิภาพ และปลอดภัย" Vanttinen ยังดำรงตำแหน่งประธานเจ้าหน้าที่ฝ่ายการตลาดของ Zippie ซึ่งเป็นระบบปฏิบัติการบนมือถือที่มีเป้าหมายเพื่อช่วยให้เทคโนโลยีบล็อกเชนได้รับยอมรับในกระแสหลัก

Vanttinen เข้าร่วมกับ Burak Benligiray เขายังเป็น CTO ที่ CLC Group อีกด้วย Benligiray ได้เขียนโพสต์ก่อนหน้านี้โดยเน้นย้ำถึงข้อดีของ ChainAPI ซึ่งทำหน้าที่เป็นแพลตฟอร์มแบบบูรณาการสำหรับ API3 สิ่งนี้ได้รับการอธิบายว่าเป็น "ผู้สืบทอดทางจิตวิญญาณ" ของ Honeycomb ซึ่งเป็นหนึ่งในนวัตกรรมที่ CLC Group ได้สร้างขึ้น

และสุดท้าย แต่ไม่ท้ายสุด ผู้ร่วมก่อตั้งคนที่สามของ API3 คือ Saša Milić นอกจากจะทำหน้าที่เป็นอาจารย์ประจำที่มหาวิทยาลัยโตรอนโตที่เธอสอนในหลักสูตรแกนกลางให้กับนักศึกษาวิทยาการคอมพิวเตอร์แล้ว เธอยังทำงานเป็นวิศวกรซอฟต์แวร์ให้กับ Facebook และเป็นนักวิทยาศาสตร์ด้านข้อมูลแบบจำลองของ Gauntlet อีกด้วย

### อะไรที่ทำให้ API3 ไม่เหมือนใคร

ในโลกของบล็อกเชนและคริปโต เราทุกคนมักจะได้ยินเกี่ยวกับโครงการที่มีเป้าหมายเพื่อนำเทคโนโลยีนี้ไปสู่อุตสาหกรรมใหม่ๆ เช่น อสังหาริมทรัพย์และการเงิน คุณลักษณะที่น่าสนใจที่สุดอย่างหนึ่งของ API3 คือมันที่มีเป้าหมายเพื่อแก้ไขปัญหาบางอย่างที่เกิดขึ้นในโลกของบล็อกเชนเอง

API มีความสำคัญเนื่องจากวิธีที่มันใช้เพื่อจัดหาบล็อกเชนเป็นการใช้ข้อมูลนอกเครือข่าย — หากไม่มีสิ่งนี้ บัญชีแยกประเภทแบบกระจายศูนย์เหล่านี้จะไม่มีทางรู้เลบว่าเหรียญควรมีมูลค่าเท่าใด

ในการอธิบายว่าเหตุใด API3 จึงมีความโดดเด่น ทาง Vanttinen อธิบายว่า API แบบกระจายศูนย์สามารถ "ให้ความโปร่งใสของข้อมูลที่เหนือกว่าไปจนถึงระดับแหล่งข้อมูลที่เป็นข้อเท็จจริงได้อย่างไร เมื่อเทียบกับออราเคิลแบบกระจายศูนย์ที่มีอยู่แล้ว ซึ่งไม่ถือว่าแหล่งข้อมูล API อยู่ในขอบเขตโซลูชันของพวกเขา"

มิดเดิลแวร์ที่มีความเบาและแข็งแกร่งที่เรียกว่า Airnode ถูกสร้างขึ้นเพื่อทำให้ API3 สามารถเป็นจริงได้ — และคุณสมบัติที่โดดเด่นของเครื่องมือนี้เกี่ยวข้องกับการปรับใช้ที่ใช้เวลาในไม่กี่นาที เพิ่มความโปร่งใสและลดค่าธรรมเนียมการทำธุรกรรมในกระบวนการอย่างมาก

#### หน้าที่เกี่ยวข้อง:

อ่านเกี่ยวกับ [Chainlink](https://coinmarketcap.com/th/currencies/chainlink/) ซึ่งเป็นหนึ่งในคู่แข่งหลักของ API3

เรียนรู้เกี่ยวกับวิธีการทำงานของออราเคิลในบทความ[การเจาะลึกทางเทคโนโลยี](https://coinmarketcap.com/alexandria/article/oracles-the-all-seeing-eye-that-guides-crypto-networks)นี้

ค้นพบคำจำกัดความของ API และ smart contracts ใน[อภิธานศัพท์](https://coinmarketcap.com/alexandria/glossary)ของเรา

สมัครรับ [จดหมายข่าว CoinMarketCap](https://coinmarketcap.com/alexandria/glossary)

### มีเหรียญ API3 (API3) หมุนเวียนอยู่เป็นจำนวนเท่าใด

ณ เดือนมกราคม พ.ศ. 2563 จากข้อมูลของ CoinMarketCap ระบุว่ามี API3 หมุนเวียนอยู่เป็นจำนวน 13,847,549 โทเค็น — จากซัพพลายสูงสุด 100 ล้านโทเค็น

ในขณะที่มีการแจกจ่ายโทเค็น 15 ล้านโทเค็นให้กับนักลงทุนที่เตรียมการล่วงหน้าและนักลงทุนเมล็ดพันธุ์ แต่ยังมีโทเค็นอีก 20 ล้านโทเค็นที่สงวนไว้สำหรับกิจกรรมการแจกจ่ายโทเค็นสาธารณะซึ่งจัดขึ้นในช่วงสองสัปดาห์แรกของเดือนธันวาคม ทีมผู้ก่อตั้งได้รับการจัดสรรโทเค็น 30 ล้านโทเค็น โดย 10 ล้านจะถูกมอบให้กับพันธมิตรและผู้สนับสนุน และในที่สุด 25 ล้านโทเค็นก็จะถูกส่งไปที่กองทุนระบบนิเวศ

โทเค็นที่ถูกขายระหว่างการขายต่อสาธารณะจะถูกปลดล็อก แต่นักลงทุนและผู้ก่อตั้งในระยะเริ่มต้นจะต้องได้ทำตามกฎการได้รับสิทธิ์ภายในระหว่างสองถึงสามปี

### เครือข่าย API3 มีความปลอดภัยอย่างไร

API3 เป็นโทเค็น [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) ซึ่งหมายความว่ามันขึ้นอยู่กับ [Ethereum](https://coinmarketcap.com/th/currencies/ethereum/) blockchain

### คุณสามารถซื้อ API3 (API3) ได้จากที่ไหน

หนึ่งในตัวกลางการแลกเปลี่ยนยอดนิยมที่สามารถซื้อ API3 ได้ ได้แก่ [Uniswap](https://coinmarketcap.com/th/exchanges/uniswap-v2/) ซึ่งจับคู่กับ Wrapped ETH นอกจากนี้ยังใช้ได้กับ UDST บน Huobi Global และ KuCoin และจับคู่กับ ETH บน OKEx และ 1inch ได้อีกด้วย [เรียนรู้เพิ่มเติมเกี่ยวกับวิธีแปลงสกุลเงิน fiat เป็นคริปโตได้ในคู่มือที่มีประโยชน์ของเรา](https://coinmarketcap.com/how-to-buy-bitcoin/)

 is using the API3 Oracle Stack to power their decentralized non-custodial liquidity market protocol on 

Hana Finance is the leading money market protocol on Taiko, offering users the ability to either supply liquidity to earn passive yield or borrow liquidity in an over-collateralized manner.

▲ Earn interest by supplying assets to borrowers

▲ Borrowing liquidity against collateral assets to increase capital efficiency

Explore and unlock new DeFi use cases on Taiko with Hana Finance.

We're happy to announce that @Hana_Finance is using the API3 Oracle Stack to power their decentralized non-custodial liquidity market protocol on @taikoxyz!

Hana Finance is the leading money market protocol on Taiko, offering users the ability to either supply liquidity to earn passive yield or borrow liquidity in an over-collateralized manner.

▲ Earn interest by supplying assets to borrowers
▲ Borrowing liquidity against collateral assets to increase capital efficiency
▲ Low cost leverage opportunities

Explore and unlock new DeFi use cases on Taiko with Hana Finance.

https://t.co/OGXSjL2sZ1

The PYUSD/USD price feed is now available on the API3 Market. ⟁

 designed to make online transactions faster & cheaper. It's backed by US dollar deposits, US treasuries, & similar cash equivalents, ensuring each PYUSD is worth one US dollar.

Start using this new data feed to build onchain products across 31 blockchains today. 🛠️

The PYUSD/USD price feed is now available on the API3 Market. ⟁

$PYUSD is a stablecoin introduced by @PayPal designed to make online transactions faster & cheaper. It's backed by US dollar deposits, US treasuries, & similar cash equivalents, ensuring each PYUSD is worth one US dollar.

Start using this new data feed to build onchain products across 31 blockchains today. 🛠️

Alonzo Upgrade Opens the Door for Cardano DApps

Binance

API3

Trust Wallet

MetaMask

Ethereum

Shiba Inu

Chainlink

Uniswap

UNUS SED LEO

Altlayer

SushiSwap

Tellor

Balancer

Convex Finance

Telcoin

Audius

HIRO

Frax Finance - Frax Ether

Lybra Finance

QANplatform

Trog

Band Protocol is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart-contracts to facilitate the exchange of information between on-chain and off-chain data sources.

By supplying reputable, verifiable real-world data to blockchains, Band Protocol unlocks a range of new use cases for developers to explore — since they can now use any type of real-world data as part of their decentralized application (DApp) logic, including sports, weather, random numbers, price feed data and more.

Band Protocol initially launched as an ERC-20 project on the Ethereum blockchain in September 2019, but transitioned to the Cosmos network in June 2020 with the release of Band Protocol 2.0. The new protocol is built on BandChain using the Cosmos SDK. Oracle nodes on BandChain not only relay data but are also involved in block production/validation, giving them a dual role.

BAND is the native token of the Band Protocol ecosystem and is used as collateral by validators involved in fulfilling data requests, as well as the main medium of exchange on BandChain — being used to paying for private data.

Band Protocol

UMA was founded in 2018 by Allison Lu and Hart Lambur, two ex Goldman Sachs traders, with the goal of making global markets universally fair, accessible, secure and decentralized.

The team drew inspiration from traditional finance derivatives to define an open-source protocol to allow anyone, anywhere, to design and build trustless financial contracts.

Ocean Protocol

Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as "a collectively owned hard drive that never forgets," the network primarily hosts "the permaweb" — a permanent, decentralized web with a number of community-driven applications and platforms.

To learn more about this project, check out our deep dive of Arweave.

The Arweave network uses a native cryptocurrency, AR, to pay "miners" to indefinitely store the network's information.

The project was first announced as Archain in August 2017, later rebranding to Arweave in February 2018 and officially launching in June 2018.

Arweave

Storj, pronounced as “storage,” is an open-source cloud storage platform. Basically, it uses a decentralized network of nodes to host user data. The platform also secures hosted data using advanced encryption.

In a white paper published in December,2014, Storj was first introduced to the world as a concept. It was to be a decentralized peer-to-peer encrypted cloud storage platform.

Two years later, an updated white paper was published. Here, a decentralized network  — connecting users who need cloud storage space with those who have hard drive space to sell — was described. The platform was launched in late 2018.

People with hard drive space and good internet connectivity can participate in the network. They become a unit in the network, called a node. Space providers are rewarded by Storj tokens.

Storj

Launched in 2017, Livepeer is the first live video streaming network protocol that is fully decentralized. The platform aims to become a viable blockchain-based, economically efficient alternative to centralized broadcasting solutions for all new and existing broadcaster companies.

To learn more about this project, check out our deep dive of Livepeer.

As stated in the official Livepeer whitepaper, the live video streaming and broadcasting industry is growing at a rapid pace, and the company is looking to ride this wave and introduce decentralization to the environment. Livepeer aims to streamline the broadcasting process by allowing producers to submit their work on the platform, taking care of reformatting and distributing the content to users and streaming platforms.

Livepeer

Balancer is an automated market maker (AMM) that was developed on the Ethereum blockchain and launched in March 2020. It was able to raise a $3M seed round by Placeholder and Accomplice. Balancer protocol functions as a self-balancing weighted portfolio, price sensor and liquidity provider. It allows users to earn profits through its recently introduced token ($BAL) by contributing to customizable liquidity pools.

To learn more about this project, check out our deep dive of Balancer(https://coinmarketcap.com/alexandria/article/what-is-balancer.

The protocol operates a few types of pools:

Private pools give the owner governance over the pool, and make the person the sole contributor of liquidity to the pool. Also, all the parameters are mutable by the owner.

Shared pools are for those who want to become liquidity providers (LPs). The LPs are rewarded with the Balancer Pool Tokens (BPTs).

Smart pools are similar to private pools but are controlled by a smart contract. They also reward using BPTs and allow anyone to contribute liquidity to the pool.

Mask Network is a protocol that allows its users to send encrypted messages over Twitter and Facebook. It essentially acts as a bridge between the internet and a decentralized network running on top.

Mask Network was initially launched in July 2019, with its first use case of allowing Facebook and Twitter users to encrypt posts on the social media platforms. It then raised $2 million in a funding round in November 2020, co-led by HashKey and Hash Global, and a further $3 million funding round in February 2021 with participation from Digital Currency Group and Fundamental Labs.

Now, Mask Network offers the ability to fund Gitcoin grant campaigns directly from Twitter, as well as plans to offer peer-to-peer payments and decentralized storage functionality. It is a decentralized portal that also allows users to use DApps like crypto payments, decentralized finance, decentralized storage, e-commerce (digital goods/NFTs) and decentralized organizations (DAO) over the top of existing social networks without migrating, creating what is referred to as a decentralized Applet (DApplet) ecosystem.

Mask Network

SKALE, described as a modular blockchain network, is designed to bring scalability to Ethereum. SKALE is the only blockchain network capable of running an unlimited number of fast, on-demand, pooled-security Blockchains with zero gas fees to end users. These individual chains are known as SKALE chains and can be dapp-specific or shared.

The project’s website says it wants to enable people to build and run DApps in a “decentralized modular cloud built for real-world needs and configured for your requirements.” This emphasis on decentralization isn’t at the expense of security.

According to SKALE, those who build on this platform can run Solidity smart contracts “thousands of times faster at a fraction of the mainnet cost” — with games and content streaming services among the projects that already take advantage of its infrastructure.

SKALE

Celo is a carbon-negative, permissionless, blockchain with a rich ecosystem of global partners building innovative Web3 dapps to support a more inclusive financial system. Accessible to anyone with a mobile phone, the Celo ecosystem consists of a decentralized, proof-of-stake blockchain technology stack (the Celo platform), CELO governance asset, and several Mento stable assets (cUSD, cEUR, cREAL) that allow for real-world users to use digital assets. The open source Celo mainnet launched on Earth Day 2020.  The Celo community passed an indicative on-chain governance proposal (temperature check) to have Celo migrate to an Ethereum layer-2.  Google Cloud, Deutsche Telekom, Telefonica, and many others run validators on the Celo Platform.  Today, the Platform supports 1,000+ projects in over 150 countries are building on Celo to, helping to create the conditions of prosperity for all.  For more information, please visit Celo.org.

Celo

Synthetix is building a decentralized liquidity provisioning protocol that any protocol can tap into for various purposes. Its deep liquidity and low fees serve as a backend for many exciting protocols on both Optimism and Ethereum. Many user-facing protocols in the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), and 1inch & Curve (Atomic Swaps), tap into Synthetix liquidity to power their protocols. Synthetix is built on Optimism and Ethereum mainnet. The Synthetix Network is collateralized by SNX, ETH, and LUSD, enabling the issuance of synthetic assets (Synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. This pooled collateral enables an array of on-chain, composable financial instruments backed by liquidity from Synthetix. Some of the most exciting upcoming releases from SNX are Perps V2, which hopes to enable low-fee on-chain futures trading through the usage of off-chain oracles, and Synthetix V3, which aims to rebuild the protocol to achieve its earliest goal, being a fully permissionless derivatives protocol. Learn more about Synthetix on their blog or by joining the SNX Discord.

The platform aims to broaden the cryptocurrency space by introducing non-blockchain assets, providing access to a more robust financial market.

Synthetix

Immutable positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security.

Thanks to this technology, users will be able to create and distribute assets like ERC-20 and ERC-721 tokens on a massive scale. Chris Clay, the game Director of Gods Unchained, a project already building on Immutable, stated that Immutable allows Gods Unchained to implement a new meta-system that was previously impossible. In this fashion, Immutable aims to create a world-class experience for users and developers alike.

Immutable

Audius is a decentralized music streaming protocol initially built on POA network, but now living on Solana. Audius was launched to remedy the inefficiencies of the music industry, which is plagued by intransparent music rights ownership and intermediaries standing between artists and their audience.

Audius aims to align the interests of artists, fans, and node operators through its platform powered by its native AUDIO token. Artists can upload music, stored and distributed by content and discovery nodes, that fans can listen to for free. Currently, Audius rewards content creators through rewards like featuring in the weekly trending lists. In the future, it plans to integrate stablecoins for artists to offer paid content, as well as artist tokens that give fans the ability to access exclusive content, potentially cooperating with platforms like Rally.

Quant launched in June 2018 with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is the first project to solve the interoperability problem through the creation of the first blockchain operating system.

To learn more about this project, check out our deep dive of Quant.

The project is built as an operating system distributed ledger technology— and Overledger Network — for connecting different blockchain networks. The project is billed as the first OS to be built for blockchains.

The main aim of Quant — using Overledger — is to bridge the gap that exists between different blockchains. The backbone of the project is the Overledger network, which Quant bills as the ecosystem on which the future digital economy ecosystem will be built.

Overledger allows developers to build decentralized multi-chain applications (known as MApps) for their customers. For developers to build a Mapp on the network, they must hold a certain amount of Quant tokens (QNT).

Quant

The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS and POA, with more networks coming soon.

To learn more about this project, check out our deep dive of The Graph.

To date, over3,000 subgraphs have been deployed by thousands of developers, for DApps like Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland and many others. The Graph usage has been growing at over 50% MoM and hit over 7 billion queries during the month of September 2020.

The Graph has a global community, including over 200 Indexer Nodes in the testnet and more than 2,000 Curators in the Curator Program as of October 2020. To fund network development, The Graph raised funds from community members, strategic VCs and influential individuals in the blockchain community including Coinbase Ventures, DCG, Framework, ParaFi Capital, CoinFund, DTC, Multicoin, Reciprocal Ventures, SPC, Tally Capital and others. The Graph Foundation also successfully completed a public GRT Sale with participation from 99 countries (not including the U.S.). To date as of November 2020, The Graph has raised ~$25M.

The Graph

Injective is a blockchain built for finance. It is an open, interoperable layer-one blockchain powering next-generation DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols and more.

Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain orderbook. In addition, all forms of financial markets such as spot, perpetual, futures and options are fully on-chain. The decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains, and non EVM chains such as Solana.

Injective also provides a next-generation, highly interoperable smart contract platform based on CosmWasm, with advanced interchain capabilities. Injective is custom built with the Cosmos SDK and utilizes Tendermint-based Proof-of-Stake consensus mechanism, providing instant transaction finality with the ability to sustain lightning-fast performance (10,000+ TPS).

The Injective ecosystem includes 100+ projects and over 150,000 community members globally. Injective is backed by a group of prominent investors such as Binance, Pantera Capital, Jump Crypto and Mark Cuban.

Injective’s core exchange module provides state-of-the-art capabilities including an advanced on-chain order book and matching engine for spot, perpetual, futures and options markets, resistance to Miner-Extractable Value (MEV) through frequent batch auction order matching, and zero gas fees for users.

Injective natively uses IBC and is highly-interoperable with multiple layer 1s, including, but not limited to, Polygon and Solana (through an upcoming Wormhole integration). It is also uniquely built to be interoperable with Ethereum, through its own decentralized ERC-20 token bridge, making Injective the first network within the Cosmos ecosystem to natively support Ethereum assets.

Smart contracts are implemented on Injective through CosmWasm, allowing for multi-chain smart contract transactions to occur seamlessly. Injective, however, is the only blockchain that enables automatic smart contract execution. This capability serves as a powerful building block for developers to create novel use cases that would not be possible on any other chain.

The use cases intended for INJ include but are not limited to: protocol governance, dApp value capture, Proof-of-Stake (PoS) security, developer incentives and staking. Further details regarding each of these use cases can be found below:

Protocol Governance: The INJ token governs every single component of Injective, including chain upgrades. Since its mainnet launch, the Injective community has actively contributed to governance, with all proposals passing through a DAO governance vote. The comprehensive governance page is available here.

Protocol Fee Value Capture: 60% of all fees generated from dApps enter an on-chain buy-back-and-burn auction to maintain the deflationary nature of INJ. The burn auction page is available here.

Tendermint-based Proof-of-Stake (PoS) Security: INJ is used to secure the Injective blockchain using a proof-of-stake mechanism. Validators and delegators can both participate in staking.

Developer Incentives: 40% of fees generated by users on dApps built on Injective go directly towards incentivizing new developers building on Injective which brings an ever growing funnel of builders to Injective.

Injective

LRC is the Ethereum-based cryptocurrency token of Loopring, an open protocol designed for the building of decentralized crypto exchanges.

In 2020, the average daily trading volume of the entire cryptocurrency market fluctuated in the approximate range of $50-$200 million. Most of that trading is conducted on centralized cryptocurrency exchanges — online platforms operated by private companies that store users’ funds and facilitate the matching of buy and sell orders.

Such platforms have a number of downsides common to all of them, so a new type of exchange — decentralized— has emerged to try to alleviate these disadvantages. However, fully decentralized exchanges are not without their own flaws.

Loopring’s purported goal is to combine centralized order matching with decentralized on-blockchain order settlement into a hybridized product that will take the best aspects of both centralized and decentralized exchanges.

LRC tokens became available to the public during an initial coin offering (ICO) in August 2017, while the Loopring protocol was first deployed on Ethereum mainnet in December 2019.

Loopring

Self-described as "Polkadot's wild cousin," Kusama is an experimental blockchain platform that is designed to provide a massively interoperable and scalable framework for developers.

Kusama is built on Substrate — a blockchain building kit developed by Parity Technologies. Kusama has almost the same codebase as Polkadot — one of the most successful interoperable blockchains.

By deploying on Kusama, fast-paced projects gain access to a highly scalable, interoperable sharded network, with features that are not yet available on Polkadot. To that end, Kusama describes itself as a “canary network.”

The platform is designed to provide a testbed for developers looking to innovate and deploy their own blockchain and can be used as a preparatory network before launching on Polkadot — though many projects opt to stick with Kusama for their final product.

Kusama benefits from a low barrier to entry for deploying parachains, low bond requirements for validators, and is most commonly used by early-stage startups and for experimentation.

Kusama

Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.

To learn more about this project, check out our deep dive of Compound.

When a user deposits tokens to a Compound pool, they receive cTokens in return. These cTokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time. For example, by depositing ETH into a pool, you will receive cETH in return. Over time, the exchange rate of these cTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed.

On the flip side, borrowers can take a secured loan from any Compound pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset, but currently ranges from 50 to 75%. The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold.

Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.

Compound

Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS converts human-readable Ethereum addresses like john.eth into the machine-readable alphanumeric codes you know from wallets like Metamask. The reverse conversion -- associating metadata and machine-readable addresses with human-readable Ethereum addresses -- is also possible.

The goal of Ethereum Name Service is to make the Ethereum-based web easier to access and comprehend for humans - similar to how the Internet’s Domain Name Service makes the internet more accessible. Like DNS, ENS also uses a system of dot-separated hierarchical names called domains with domain owners fully controlling their subdomains.

ENS launched with a highly successful retroactive airdrop in November 2021 that rewarded users who had registered addresses before the project launched its token. However, in February 2022, it faced criticism over apparently homophobic tweets by its director of operations.