API3, a supplier of decentralized and quantifiable safe knowledge feeds that run Internet 3.zero apps with out using third-party distributors, as of late introduced its newest partnership with Hedge Towards Inflation (HAI) DAMO (Decentralized Asset Control Group).
Hedge Towards Inflation is a undertaking that targets to reduce the hazards related to the volatility of the crypto markets. API3 will supply Airnode-enabled API knowledge and dAPIs to make this conceivable.
HAI DAMO intends to supply buyers with get entry to to on-chain ETFs that cling the most efficient acting belongings in quite a lot of spaces of the crypto house. Get entry to to those baskets of belongings makes it more straightforward for green buyers to put money into many tokens immediately and hedge the chance of person initiatives failing.
The introduction of crypto asset ETFs will due to this fact decrease the limitations to access for brand new buyers whilst additionally serving to to mature crypto as an asset elegance.
Structured as DAMO, an asset control group operated through the DAO, HAI token holders have keep watch over over the content material of the ETFs and the protocol that manages them.
First of all, HAI will create 5 ETFs, each and every overlaying a unique a part of the cryptocurrency ecosystem; Blue chip initiatives, DeFi, NFTs, enlargement and stablecoins. The flexibility of API3’s Airnode-enabled APIs will lend a hand supply correct pricing knowledge for those belongings.
“API3 used to be a transparent selection in comparison to choice Oracle suppliers. API3’s Airnode protocol enforces responsibility on behalf of distributors whilst providing pricing mechanisms very similar to usual APIs. Low gasoline charges and dependable knowledge will allow HAI DAMO to optimize our tokenized ETFs extra actively. “
– Hunter MacDonald, HAI DAMO co-founder
Moreover, the partnership with HAI may also give API3 token holders a stake in managing HAI.
“There is a beautiful steep studying curve for other people new to the cryptocurrency house. In reality decentralized crypto-related ETFs will lend a hand decrease the limitations to access to the blockchain for buyers to accept as true with. and API3 is worked up to spouse with HAI DAMO to create those ETFs. “
– Heikki Vänttinen, API3 co-founder