API3 files B1 Token Transparency Report, reveals 4 gaps in disclosure

API3, the decentralized oracle network known for cutting out the middleman in blockchain data feeds, has submitted a partial B1 disclosure under the Blockworks Token Transparency Framework. The filing, documented on June 23, 2026, covers H1 2026 and carries a status of “Partial, 4 gaps.”

The Token Transparency Framework has now received 53 total filings. Of those, only 17 are complete. The remaining 36, including API3’s, are partial.

What the framework actually measures

The Token Transparency Framework was unveiled earlier in 2026 by the Transparency Alliance, a coalition pushing for standardized onchain market disclosures. It evaluates projects across 18 key criteria spanning team verification, token supply metrics, financial information, and market structure analysis. A “B1” designation with four gaps means API3 provided data on 14 of the 18 criteria but left holes in four areas.

Participation rates remain strikingly low across the broader market. An April audit found that roughly 9% of surveyed protocols had submitted filings. That number has grown since, but 53 filings across the entire crypto landscape is still a rounding error when you consider the thousands of active token projects.

API3’s position in the oracle wars

API3 has carved out a niche by eliminating third-party node operators entirely. Its Airnode technology lets API providers run first-party oracles directly, meaning the data source and the oracle are the same entity. The project currently operates over 100 first-party oracle data feeds across multiple blockchain platforms. The API3 Alliance, launched in August 2021, has onboarded more than 125 API providers to run these oracles themselves.

The project has also leaned into Oracle Extractable Value, or OEV, a concept that acknowledges oracles create economic value every time they update a price feed. API3 distributes OEV rewards to DeFi protocols on a monthly basis.

This positions API3 against heavyweights like Chainlink and Pyth, both of which use different architectural approaches. Chainlink relies on a decentralized network of third-party node operators, while Pyth pulls data directly from market makers and exchanges.

As of mid-to-late June 2026, the API3 token trades in the range of $0.25 to $0.26, with a market capitalization near $35 million.

What this means for investors

API3’s willingness to file, even with gaps, signals something about the project’s orientation. The four gaps are worth watching: if those missing disclosures involve insider holdings or treasury management, they represent exactly the kind of opacity that has burned investors in previous cycles.

With a market cap near $35 million, API3 is priced like a speculative bet rather than an established infrastructure play. The question is whether first-party oracle architecture and OEV distribution can generate enough protocol adoption to justify a higher valuation, or whether the project remains a technically interesting but commercially underweight alternative to Chainlink.

Investors should watch for two things going forward: whether API3 closes those four gaps in subsequent filings, and whether the broader framework gains enough adoption to become a meaningful market signal rather than a voluntary exercise that most projects ignore.