Polygon zkEVM launched to scale DeFi using zero-knowledge proofs while maintaining EVM equivalence. API3 has been providing oracle services to Polygon zkEVM, now introducing managed dAPIs on the API3 Market. These provide decentralized data feeds by first-party oracle nodes with native-chain aggregation.
Essential DeFi protocols like lending platforms and DEXs require real-time market data delivered by oracles. Many DeFi apps use push-type oracles, which come with limitations and vulnerabilities. API3 created a push oracle solution based on first-party architecture, allowing easy migration for DeFi protocols to Polygon zkEVM.
API3’s push oracle design centers around the Airnode first-party oracle node, eliminating intermediaries for more secure and efficient data on-chain. This design leverages data directly from source, operated by data providers themselves, ensuring transparency and cryptographic verification.
API3’s push oracle disrupts the traditional model used by DeFi applications like Aave and Compound. It aligns incentives for data providers, networks, and dApps. Managed dAPIs offer direct access to real-world data types from reputable sources, benefiting projects like QuickSwap Perps, Dovish, and MantisSwap.
Projects such as Tropykus quickly launched on Polygon zkEVM by using self-funded dAPIs. The API3 Market simplifies the management of dAPIs, abstracting operational complexities for developers.
The collaboration between Polygon zkEVM and API3 advances the role of oracles in scaling Ethereum. First-party oracle solutions promise improved security and transparency. API3’s vision aligns with the growth of decentralized finance through smart contracts.
Polygon Labs’ Jack Melnick praised API3’s push oracle solution, highlighting its contribution to transparency and security in decentralized finance within Polygon’s scalable ecosystem.
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- Source: https://alexablockchain.com/api3-push-oracle-solution-enhancing-defi-on-polygon-zkevm/
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