API3, a provider of decentralized and quantifiably secure data feeds for blockchain apps, has announced its newest partnership with Royale Finance, a cross-chain DeFi solution for the iGaming industry.
Royale Finance, which raised $1.45 million in January of this year, allows iGaming platforms to be bootstrapped with Web 3.0 liquidity using the security and transparency of blockchain technology.
API3 + Royale
The iGaming industry is one that traditionally suffers from very low levels of trust. API3 will be providing Royale’s iGaming partners with access to on-chain price information to determine exchange rates; which allows them to prove customers are paying the correct exchange rate.
With data recorded on a blockchain, this allows customers to verify that they were not overcharged when exchanging digital assets to fiat on Royale Finance’s iGaming partners. The ability for blockchain to provide an immutable, open, record creates a unique opportunity to eliminate the need to trust even conventional Web 2.0 applications.
API3’s Airnode allows this record to be made without having to trust a third-party oracle provider; allowing customers to see exactly where the data is sourced from. API3 will also leverage Airnode-enabled APIs to provide other data sources to Royale Finance; including helping Royale Finance monitor the USD peg of stablecoins that are staked.
“For Royale, the transparency that API3 seeks to create fits perfectly into the Royale ecosystem. The first party API3 oracles which are operated by the API providers allows for a tamper free ecosystem that can not be compromised. I will genuinely admit to being a fan and can not wait to integrate API3 into our beloved Royale Kingdom and beyond.”
— Giorgio Andrews, CEO of Royale