Crypto Investment Bank BTX Capital Invests $3M USD In Open Source API Platform TheAPIS
Crypto investment bank BTX Capital has invested $3 million in open source, decentralized API platform TheAPIS.
BTX Capital offers technical consulting services across the blockchain spectrum. Its staff comes from listing departments for top crypto exchanges and top token funds.
TheAPIS offers a developer-friendly platform that serves as a turn-key solution for indexing and querying public blockchains, namely Ethereum and Filecoin. Open-sourced, developers will be able to create API packages that serve every category of blockchain applications – from DeFi to Oracle to File Storage.
With partnership, the companies aim for a new era in which developers receive a share in the profits made by companies that benefited from the economies of scale and network effects they made possible.
“We are excited to continue our synergistic relationship with BTX and are grateful for all they’ve already done for our current growth. We believe a future in which developers own equity in the databases that they make popular is a fairer and better future for the Web. BTX is fully aligned with us in our vision,” said Calvin Pak, CEO of TheAPIS.
BTX Capital is providing APIS with access to its investment, trading and advisory arms and is now in the process of connecting the network to prominent ventures and developers around the DeFi and Web3 communities.
BTX’s tokens are fully locked for the following year, with the TheAPIS team reserving the right to extend the lock-up at any time over the following year. Both partners agreed that the optional extension can help ensure that incentives of the BTX and TheAPIS teams are fully aligned with TheAPIS community owners.
“Our community owners are our highest priority shareholders, a non-negotiable feature of the journey of TheAPIS,” Pak added.
Initially, TheAPIS would ensure that third parties are able to access data from Ethereum and Filecoin, and all other relevant blockchains with uptime guarantees. It is expected that more blockchains would be supported on the platform.
