API3, a DAO-supported ecosystem dedicated to creating Decentralized application programming interfaces (dAPIs), has teamed up with OptionRoom, a user-governed oracle supported by Polkadot. API3 was quick to take to its Twitter handle to announce the exciting news of the two partners coming together to open new possibilities in the Airnode space by offering consensus-driven data to a wider audience. This news was shared by OptionRoom too on its Twitter account, and it stated that it looks forward to offering OaaS data feed to its partner.
API3 elaborated on the partnership via its blog post as it stated that this partnership would enable API3 to introduce its partner’s oracle service supported by API endpoint on the Airnode ecosystem. This will offer easy interoperability between multiple blockchains. API3 will also leverage its partner’s feature dedicated to conflict resolution and adjudication.
Both partners expressed optimism and confidence in the partnership.
Marsel Adawi, CEO at OptionRoom, stated that the company welcomes its partner onboard, and this collaboration will work to make a difference in the decentralized oracles space and help shape the future of Blockchain technology. According to him, the collaboration will focus on simplifying OaaS onboardings by introducing data interoperability supported by API3.
Heikki Vänttinen, Co-founder at API3, mentioned that this partnership would have a major impact on developing the Web3.0 space. And API’s existing data feed insurance model will is key to this. He also mentioned that they are happy to expand their partner’s market beyond Polkadot with API3’s Airnode technology.
OptionRoom will introduce its arbitration service once API3 enables access to its oracle service via API3’s Airnode technology, according to its Medium blog post. This will support the system to carry out the decentralized arbitration process effectively since developers will be able to create innovative cases and confidently resolve disputes. This whole process will be powered by the Airnode system, which enables Dapps to cross-function on multiple channels.