API3 & HAI DAMO Partner to bring Decentralized Investment Vehicles to the Market
HAI is pleased to announce our partnership with API3 to bring on-chain ETFs to the crypto asset market. HAI will be using API3 as our oracle, providing the crucial data to manage the performance of our ETF smart contracts. API3 operates cross-platform, which is essential as our ETFs will span multiple ecosystems as well. We believe this partnership will provide HAI with the necessary tools and guidance needed to launch and maintain high quality products.
API3’s Airnode protocol is a clear choice for us for a number of reasons. First, we believe in API3’s data provider method much more than its alternative (cough cough, Chainlink). API3 operates much closer to a typical API, in which the software interacts directly with the data providers without any middlemen. We prefer this method as it enforces accountability on behalf of the providers. API3’s Airnode protocol will allow for deployment of data feeds for tokens across various blockchain networks. By utilizing API3’s hyper efficient Airnode protocol, HAI DAMO will avoid high gas fees, which allows us to more actively optimize our ETFs.
HAI DAMO Abstract
The crypto asset class is still in its infancy, lacking many of the complex financial instruments that define more mature asset groups. Consequently, crypto asset investments are subjected to extreme volatility, and thus are unattractive to risk-averse investors like legacy institutions and corporations. Their entrance into the crypto asset class will create an inflow of trillions of dollars, which makes for a sizable bounty for whomever can provide a vehicle to these investors. Institutions cannot stomach the 50% drops that more adventurous investors endure, nor can they stomach the opportunity cost of 500% gains on adjacent tokens. By providing safer investment vehicles to more risk averse players, HAI DAMO can claim a piece of the trillion dollar bounty while legitimizing crypto assets across the ecosystem.
“There is a pretty steep learning curve for people new to the cryptocurrency space. Truly decentralized crypto-related ETFs will help trustlessly lower barriers of entry into blockchain for investors, and API3 is excited to be working with HAI DAMO to create these ETFs”
— Heikki Vänttinen, API3 Co-Founder
About HAI DAMO
Hedge Against Inflation (HAI) is the first decentralized asset management organization (DAMO). HAI is creating on-chain ETFs, offering investment vehicles to lower risk-tolerant individuals and institutions. ETFs are viewed ubiquitously as a signal of maturity in markets; it is the lack thereof that we are solving.
API3 builds decentrally governed and quantifiably secure data feeds that power Web 3.0 applications without employing third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPIs are fully decentralized and blockchain-native APIs with quantifiable security.
HAI DAMO Links
Twitter : https://twitter.com/thehaidamo
Telegram : https://t.me/hedgeagainstinflation
Twitter : https://twitter.com/API3DAO
Telegram : https://t.me/API3DAO (Community Chat)
Discord : https://discord.gg/qnRrcfnm5W (Builder Chat)
Github : https://github.com/api3dao
Reddit : https://www.reddit.com/r/API3