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Israeli New Shekel (ILS) to API3 (API3) Instantly

Purchase API3 (API3) with Israeli New Shekel (ILS) easily at Switchere and benefit from fast, secure transactions.

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About
API3 (API3)

API3 is a collaborative project dedicated to building, managing, and monetizing decentralized APIs (dAPIs) at scale, directly addressing the blockchain oracle problem. It aims to connect smart contracts with real-world, off-chain data in a more secure, transparent, and cost-effective manner. Unlike traditional oracle models that rely on third-party intermediaries, API3 champions a first-party oracle solution. This model allows API providers to run their own oracle nodes, called Airnodes, with minimal effort. This direct data sourcing from the provider to the blockchain technology eliminates the need for middlemen, reducing attack vectors and increasing the reliability of on-chain data feeds for various DeFi applications and Web3 infrastructure.

The core of the ecosystem is the API3 token, a digital asset that functions as both a utility and governance token. Token holders can participate in the API3 DAO, which governs the entire network, including the selection of dAPIs and collateral management. Staking the API3 token is a crucial component of its tokenomics, as it provides a security collateral and an insurance-like mechanism for users of the dAPIs, guaranteeing service quality and data integrity. This cryptographic security model aligns incentives between API providers, dApp developers, and the DAO, fostering a robust and decentralized Web3 API economy.

API3 (API3)

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How to Buy API3 (API3)

  1. Select currency menu

    Choose ILS to API3 Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your API3 Wallet Address

    Provide your API3 wallet address and proceed with the payment.

  3. Confirmation page

    Receive Your API3

    Complete the payment, and your API3 will be sent to your wallet.

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Frequently Asked Questions

  • What is the ILS/API3 trading pair and what does it represent?

    The ILS/API3 pair allows you to purchase the API3 digital asset directly using the Israeli Shekel (ILS). It represents a fiat on-ramp connecting Israel's local currency to the API3 ecosystem, which focuses on providing first-party oracle services. This enables smart contracts to access real-world data directly from API providers through its innovative Airnode technology, bypassing third-party intermediaries.

  • What is the strategic advantage of API3's first-party oracle model?

    API3's strategic advantage lies in its first-party oracle architecture, powered by Airnode. Unlike third-party oracles that aggregate data, first-party oracles allow API providers to run their own nodes, delivering data directly on-chain. This model minimizes attack vectors, eliminates rent-seeking middlemen, and increases data transparency and source reliability for dApps (decentralized applications) that require high-integrity off-chain data feeds.

  • Are there specific security practices for handling the ILS to API3 transaction?

    Yes. Always use a reputable, regulated cryptocurrency exchange with strong security features like two-factor authentication (2FA). Double-check the deposit address for ILS and be cautious of phishing attempts. After purchasing API3, for long-term holding, it is highly recommended to withdraw the tokens to a secure hardware wallet where you control the private keys, significantly reducing the risk of loss from exchange hacks.

  • What are common methods for depositing Israeli Shekels (ILS) to buy API3 tokens?

    To fund an account with ILS for an API3 purchase, most cryptocurrency exchanges that serve the region offer direct bank transfers from Israeli banks and payments via credit or debit cards. It is crucial to use a regulated exchange that complies with local KYC/AML (Know Your Customer/Anti-Money Laundering) regulations to ensure a secure transaction and legal compliance.

  • After buying API3 with ILS, how do I participate in the API3 DAO governance?

    To participate in governance, you must transfer your API3 tokens from the exchange to a self-custody digital wallet, like MetaMask. Then, you need to stake your API3 tokens in the official API3 DAO governance contract. Staking your tokens grants you voting power on proposals that shape the project's future, and you may also become eligible for staking rewards, creating an incentive for active participation.

  • What are dAPIs and how do they relate to the API3 token?

    dAPIs are 'decentralized APIs'—blockchain-native data feeds composed of multiple first-party oracles, governed by the API3 DAO. They provide a more secure and decentralized way for smart contracts to access off-chain data. The API3 token is essential for this system, as it's used for governance (voting on dAPI management), security (staked as collateral), and as a subscription or payment mechanism for accessing these decentralized data feeds.

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