UTU and API3 Partnership
UTU has announced that they have formed a partnership with API3.
This is to provide a first-party oracle connection for developers looking to integrate UTU’s AI-powered APIs
How will UTU and API3 work together?
First, UTU will make their Trust API and Creditworthiness API accessible via API3’s Airnode first-party oracle. This means that developers who want to increase trust of their marketplace dApps can use API3 to easily integrate their Trust API, and developers building lending dApps can do the same with their Creditworthiness API. Through API3’s Airnode, they will bridge data and services between their APIs and multiple blockchains where API3 is deployed.
Additionally, UTU is now part of the API3 Alliance, a strategic coalition of API providers who believe that they should be able to share the same data and services they currently offer to web applications directly to Web3 consumers, without having to rely on third-party middlemen.
Finally, UTU and API3 will explore the use of Airnode for delivering and tracking the UTU Trust Token (UTT) across chains. Users in the UTU ecosystem receive UTT for providing accurate reviews and sharing data with the protocol. UTT is non-transferable but can be converted into UTU Coin, but not the other way around, which prevents users from “buying trust”.
About API3
API3 is the leading first-party blockchain oracle solution empowering the world’s premier API providers to offer their services directly to Web3 applications. Airnode, its open source, provider-operated oracle and value-added services such as dAPIs are governed by a decentralized autonomous organization (DAO) comprised of stakeholders, industry experts and project partners.
About UTU
UTU is building the trust infrastructure of the internet to help businesses and consumers engage and transact in an easier, safer, and more trustworthy way.
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