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
Binance Coin
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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

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