API3 is a data oracle that enables APIs to feed data directly to blockchain applications without third-party intermediaries.

API3 is the native token of the project. Current use cases for API3 include:
Insurance Collateral Pools: API3 stakers provide security insurance for oracle users against potential financial loss due to oracle failure. Stakers will be able to earn staking rewards paid in API3 tokens.
Governance: API3 holders can propose and vote on governance proposals.

The project consists of the following main components:
Beacons: Lightweight first-party data streams that reduce Web3 costs and expand data access.
Airnode: Web3 middleware that connects Web APIs directly to smart contracts.