DeFi Data Feed Service API3 Becomes a DAO
As well as steering the direction of the project, the DAO aims to provide a kind of decentralized insurance against oracle failings.
“Keepers” can do things like execute limit orders, liquidate under-collateralized loans or just remind a blockchain what time it is.
Oracles, algorithms and blockchains provide an alternative to a system where you have to form all-or-nothing business relationships.
Blockchain promises an immutable history of on-chain data. But the “ledger of record” is merely a new way to manufacture consent.
More than 225 projects building on Avalanche are waiting for price feeds, said Ava Labs President John Wu.
Since joining the OpenAPI Initiative, Band Protocol has been working on potential partnerships with data giants like Google, Microsoft and Bloomberg.