Token Terminal, a platform for various crypto asset data, has announced its new version of API, APIv2. The token Terminal provides access to impeccable and regulated metrics that helps the users to integrate and compare blockchains.
Initially, most of the on-chain applications were a fixed set of smart contracts set out to Ethereum. However, these on-chain applications have now enhanced their features with more account-friendly, mutable criteria and business logic. In other words, single-chain applications have been moved to complex and tokenholder-governed multichain applications resulting in highly fragmented real-time DAO data.
The purpose of thE API is to troubleshoot the issues regarding on-chain accounting. It arranges the data feeds standardized and captures all relevant on-chain data. The team has built an internal data solution that allows them to fetch data from various blockchains effortlessly. As DAO has started generating revenue, stakeholders have realized the need for reliable financial & substitute data to support informed governance decisions.
The on-chain data maintenance requires domain expertise and engineering resources to keep the data actionable. It’s a full-time job to monitor the new contract changes and deployments and to keep them updated on its API.
Their long-term vision is to see the growth of the Token Terminal platform to an extent where the Token Terminal API becomes the canonical blockchain framework among traders.