Sponsored
632
views

API Inu – A Blockchain Service Suite Joining the Meme Coin Hype

The meme coin hype is leading to the creation of more creative projects revolving around this type of cryptocurrency. In this context, API Inu is one of the latest examples, with a combination of blockchain data services and a meme token.

Using TradingView’s professional charting libraries, the project wants to provide simple indicators for beginner traders. Furthermore, the team wants its community to enjoy access to essential data like liquidity, trading volume, risk exposure, and fear vs. greed indicators. 

API Inu is designed to be more approachable and less intimidating for those new to cryptocurrency trading who want to understand the basics by looking at charts.

About API Inu

The industry refers to decentralized tokens like API Inu as meme coins. Since the coin has no centralized control points, it may run with maximum openness and a minimum reliance on third parties. 

API token holders have the ability to vote in the API DAO by staking their API tokens in the system. 

As a nod to the popular meme, the project’s name consists of the Japanese term “Inu.” Meme coins are an integral part of the crypto world and are a fundamental tool in the team’s plan. Influencers and the hype they generate on social media have a significant role in determining how successful a performer will be.

A Few Words about API Inu’s Ecosystem

Smart contracts will be able to access any Web API using this project. That’s because they can access global data streams thanks to data feeds. APIs and off-chain services are also necessary for Web3 to succeed. Air Node makes it possible for smart contracts to contact Web APIs, delivering on both promises directly.

API data feeds are protected from data manipulation and denial-of-service attacks by intermediaries if third-party node operators are not used. 

Because of fewer attack points, the system presents itself as more cost-effective. Air Node enables API Inu’s source-level decentralization as a serverless oracle node. Users can install Air Node cost-free and require very little daily administration.

The Project’s Core: Data Querying

To put it more bluntly: public blockchains are data machines. The APIs allow you to uncover new trends, expose transaction histories, and explore the holdings of any wallet. 

API Inu has three subscription options for its members:

  • A free plan suitable for independent projects, with five calls per second to the API system and up to 100,000 calls per day.
  • A first paid subscription doubles the call limit (10 per second and 200,000 per day), with enhanced support from API Inu’s team.
  • A second paid subscription provides higher limits (20 calls per second and 500,000 calls per day) and provides the advantages of the first plan above.

At the moment of purchase, the latest API Inu ($API) price will be retrieved from Pancake Swap and applied to all subscribers. 

Any purchase will go to the smart contract, and almost all the spent tokens (90%) will burn. The remaining 10% will cover the team’s server costs and operations. The system will keep track of the purchase and grant developers access to the service they have subscribed to.

The API Inu Beacons

Beacons represent a transparent, cost-effective, and scalable mechanism for smart contracts to communicate with off-chain data. Also, they are under the management of the market’s most respected and dependable data providers. 

What can a beacon achieve? Developers may use beacons to link smart contracts to off-chain data. For instance, they can do so with the current price of a cryptocurrency, a stock, or a commodity. Beacons offer an open, cost-effective, and scalable tracking method because the most reputable data providers on the market manage them.

The beacon technology will allow users to build decentralized APIs (or dAPIs) to achieve a new level of data analysis.

The $API Token

The project planned the release of a native token, the $API, with a maximum supply equal to 10 trillion samples. We are talking about a reflection and deflationary token already listed on PancakeSwap and can be found on CoinMarketCap.

The total supply of the token divides as follows:

  • Burnt tokens after launch: 50%
  • PancakeSwap liquidity: 49.6%
  • Developer wallet: 0.4%

In terms of tokenomics, the team included a 0.9% transaction tax in its smart contract, regardless of operation. A part of the fee will fund the token reflection system of API Inu (0.45%). Meanwhile, the remaining proceeds will burn (0.45%).

Final Thoughts

API Inu aims to bring together a set of tools for doing market studies on the blockchain focusing on meme coins. 

The team hopes to build a system like DEXTools and Poocoin that provides free charting and data to the general public. Additionally, the developers are working on an API platform for WEB3 API, which may be useful for B2B applications. 

Binance Coin live price
Bnb
Binance Coin
$334,14
price
4.50317%
price change
BUY NOW

The initiative’s business plan depends on the projected advertising income. Moreover, the product’s API Inu beta should launch within the next three weeks.

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More

Stay up to date with our latest articles

More posts

How Can Crypto Trading Bots Help You Manage Your Investments?

Bots are computer programs designed to carry out specific activities automatically. They operate with the least amount of human input possible.  Crypto trading bots are automated programs that trade a single coin or a portfolio of cryptocurrencies. They trade on one or more exchanges on behalf of the owner or user.  Cryptocurrency bots can automate trading tactics to increase portfolio profits. Today, we'll take a closer look at this ever-expanding technology.  A Simple Way to See Crypto Trading Bots Artificial…

Viubank: Earn Interest with Highest Crypto APY Through Fixed Deposit Receipt

An innovative new financial service called Viubank offers customers a way to earn interest on their long-term savings accounts. The concept depends on the cooperation with ELG bank, which brings together traditional and crypto-based financial expertise. About ViuBank Viubank is an innovative banking initiative promising simple access to fixed deposits that pay set interest rates. Depending on your preference, you can get daily, weekly, or monthly benefits. Thanks to its Vanuatu banking license, every depositor can open an account on…

WMA: Bitcoin Struggles at $30k as the Market Recovers Slightly

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,286 trillion. Bitcoin manages to withhold the $30k level after a disappointing week. Ethereum lost almost 3% of its value over the past seven days. XRP decreased by nearly 3% this past week. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector lost over $0.3 billion from the…

Binance CEO CZ Urges Users to Diversify their Investments 

Zhao Changpeng, founder and CEO of the global cryptocurrency exchange platform, Binance, recommends that individuals diversify their investments.  Although Zhao, also known as CZ, warned that he doesn’t necessarily follow his own advice as well. The CEO also assured that Binance users’ funds were "SAFU", as users dread another Terra repeat. "Investment Wise, I'm Not a Good Example" In a Reddit AMA – which means Ask Me Anything – the 44-year-old billionaire briefly discussed a myriad of topics in response…

Cyprus Government Prepares Crypto and Digital Assets Bill

The Government of Cyprus has laid down its own digital assets laws to administer cryptocurrency transactions. It is very likely Cyprus could adopt the new bill before the EU reaches a consensus regarding its own regulatory structure. Kyriacos Kokkinos, an official of the Cyprus government, shared this information in a fintech meeting at Larnaca. Government Supports Crypto Usage Also a member of the European Union, Cyprus has a reputable position in the consortium when it comes to innovation. Just last…

Crypto Now a Popular Investment Option for European Families

More than 50% of European families have some investment in digital currency.   The average European family sees crypto as a viable investment and savings option. This data comes from several recent surveys conducted over different demographic areas. Despite the volatility of the crypto space, as recent events highlight, it has seen a continuous rise in new investors. More people are committing to crypto investments and many of them are taking steps to buy into the growing market.  The flurry…

New MicroStrategy CFO Remains Committed to Bitcoin HODL Plan

MicroStrategy still doesn’t plan to sell its Bitcoin, according to the company’s new Chief Financial Officer Andrew Kang. The recent bear market, which has brought Bitcoin’s value below the company’s average purchase price, hasn’t shaken the organization’s faith. “At this time, we do not have any intention to sell,” said the CFO, after joining the company on May 9th hailing from GreenSky. “There are no scenarios that I’m aware [in which] we would sell.” Shareholders also remain confident and reportedly…

CFTC Chief Backs Regulatory Incentives to Make Bitcoin Proof of Stake

Rostin Behnam – chairman of the Commodities and Futures Trading Commission – is not happy with Bitcoin’s current levels of energy consumption. He believes regulators should establish incentives to push the network towards a proof of stake (POS) consensus model. Not Worth the Energy, says Benham Speaking at POLITICO’s Sustainability Summit, Benham claimed that Bitcoin’s energy consumption doesn’t match its economic output. “That may rebalance over time, but right now it’s clearly skewed,” he said. Most of Bitcoin’s energy consumption…

Terra Collapse Causes G7 to Hasten Crypto-Centric Regulations

Earlier this week, ministers from the world's top economies, the G7, called for greater speed as financial watchdogs introduce comprehensive crypto regulation. This comes shortly after Terra's demise saw several crypto users suffer considerable losses in the space of a week. G7 Contacts FSB to Hurry Things Up The stablecoin failed to maintain its dollar peg and crashed as low as $0.07, with sister token LUNA not far behind. This created a ripple effect as general market anxiety destabilized even…

Andreessen Horowitz Unveils 2022 State of Crypto Report

The Silicon Valley venture capital firm Andreessen Horowitz (a16z) released a report on Tuesday covering the current state of crypto adoption. It highlights Ethereum as the leading blockchain network for developer support but contains very little mention of Bitcoin’s growth. The Potential of Web 3 The VC firm broke boiled down its report into five key takeaways about the current state of crypto. It began by suggesting that the industry is in the middle of its fourth ‘price innovation’ cycle.…