BTX Capital Announces $3M Investment in Partnership with TheAPIS, an Open Source API Platform

07/12/2020

TheAPIS, an open source, decentralized API platform, has announced a $3 million strategic investment from BTX Capital, a leading crypto investment bank. With their new partnership, they 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.

TheAPIS is a developer-built platform that manages communications between DApps and blockchains via only a few simple APl calls, reducing the inherent complexity of blockchain protocols. The goal of their APISCore product is to manage these intricacies, to eliminate the entry barrier to dApp creation by connecting APIS to their conventional backend or even the No-Code/Low-Code app builder. The APIS empowers connectivity to multiple blockchains with the same API calls, rendering chain-agnostic implementations, with cost-free chain-switching. With cross-chain interoperability supported by APIS-Unified, projects have the capability to scale their products across various blockchains in a decentralized manner.

"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.

About TheAPIS
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. For more information, please visit TheAPIS official website: http://www.theapis.io

About BTX Capital
BTX Capital is a leading crypto investment bank offering technical consulting services across the blockchain spectrum. Its staff comes from listing departments for top crypto exchanges and top token funds. Through their consulting services on the offering of plans and personnel and their in-house marketing department, BTX Capital strives to provide the most effective services to empower top-tier blockchain projects to meet the demands of first-tier exchanges.
http://www.btxcap.com

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