How to Use Api3 Market: A Comprehensive Guide

Deviation represents the percentage difference between on-chain and off-chain values. An update is triggered when the deviation surpasses the selected threshold.

For example, if the deviation threshold is 1% and the on-chain price of BTC/USD is $100, an update will be triggered if the off-chain price moves below $99 or above $101.

Api3 Market offers the following deviation threshold options:

• 5%
• 1%
• 0.5%
• 0.25%

Lower thresholds trigger more frequent updates, leading to higher costs but increased accuracy.

Heartbeat Interval

The heartbeat interval ensures that data feeds update at least once within a fixed timeframe.

• Api3 Market enforces a 24-hour heartbeat interval.
• Updates occur 2 minutes earlier than the interval to prevent transaction reverts in smart contracts.

Read more: API3 Price Index Live Charts, and Fait Converter

Plan Durations on Api3 Market

Api3 Market offers different plan durations based on the network:

• Testnets: 7-day plans
• Mainnets: 3-month plans

Plan Example Scenarios

• If BTC/USD on Ethereum is inactive, purchasing a 1% deviation threshold for 3 months will activate the feed immediately and deactivate after 3 months.
• If the same feed is already active with a 5% deviation threshold, purchasing a 1% threshold plan will switch to 1% and extend expiration by 3 months.
• If a 0.5% threshold plan is active, purchasing a 1% threshold plan will allow the feed to run at 0.5% for the remaining time, then switch to 1% for the rest of the new plan duration.

Users can use the "Set Reminder" button on Api3 Market to track expiration dates and avoid service disruptions.

Pricing and Discounts on Api3 Market

How Pricing Works

Api3 Market pricing is calculated based on:

• Data feed update costs
• Update frequency
• Plan duration

Api3 Market pricing equals estimated gas costs or a minimum of $0.1 per day. Discounts apply if previous estimates were higher than actual costs.

On testnets, if the payment runs out, updates will stop even if the plan has not expired. To resume, a new plan must be purchased.

Gas Grants

Projects can apply for gas grants to have Api3 purchase plans on their behalf.

Integrating Api3 Market Data Feeds

Integration is straightforward with two options:

1. Skip OEV Rewards – Use the default Api3ReaderProxyV1 address.
2. Earn OEV Rewards – Deploy a proxy, provide the dApp name, and earn additional rewards.

Projects looking to earn OEV Rewards should follow the OEV onboarding process before integrating.

How Api3 Market Ensures First-Party Oracle Verification

Unlike traditional oracles, Api3 Market uses first-party oracle technology, where API providers directly sign and deliver data without intermediaries.

Three Key Verification Conditions

1. The node operator must be an API provider as their primary business model.
2. Each API provider certifies their public key and signs their data with a private key.
3. API providers directly host their signed data without third-party dependencies.

Example: CoinGecko First-Party Verification

Api3 Market verifies CoinGecko as a first-party oracle by:

• Checking that the signed API response originates from coingecko.com.
• Confirming that certifiedAirnodes match CoinGecko’s signature data.
• Allowing users to manually query the signed API at:
   https://signed-api.coingecko.com/public/0x6b56E47DccFbC82D63Df3da417d26e8B1B877f0f

This verification ensures transparent, verifiable, and decentralized data feeds.

Conclusion

Api3 Market provides secure, first-party oracle solutions with flexible update parameters, transparent pricing, and seamless smart contract integration. 

By ensuring cryptographic verification of data sources, it eliminates the need for intermediaries, making decentralized applications (dApps) more secure and cost-efficient.

FAQs

How does the deviation threshold affect data updates?

The deviation threshold determines how much the price must change before triggering an update. Lower thresholds mean more frequent updates and higher costs.

What happens if a plan expires?

Once a plan expires, updates stop. Users must renew their plans to keep their data feeds active.

How can I integrate an Api3 Market data feed into my smart contract?

Click "Integrate" on the Api3 Market data feed page and choose either "Skip OEV Rewards" or "Earn OEV Rewards" to generate the appropriate proxy address.