What is APYSwap (APYS) | What is APYSwap token | What is APYS token

Decentralized finance (DeFi) has shifted the way that cryptocurrency users interact with the protocol, introduced variety of new features and, most importantly, gave back the asset ownership to users rather than intermediaries. However, as the DeFi ecosystem develops, it faces a number of issues, one of which is complexity. An average user is now required to have a specific and up-to-date knowledge of how to interact with pools, deposit liquidity and mitigate impermanent loss.

In addition, many may find it hard to differentiate between various DeFi projects and evaluate their potential risks and rewards. Portfolios are in constant need of attention if you are looking to maximize profits, which may be difficult to keep track of. Finally, Ethereum transaction fees have grown significantly, making it more expensive for regular users to interact with yield farming opportunities and other dApps.

APYSwap offers a unique solution to these problems. APYSwap is a protocol for decentralized cross-chain exchange of shares of Tokenized Vaults. It implements a delegation function for user assets and provides a marketplace for financial assets trading. APYSwap allows users on multiple blockchains (initially Ethereum, Polkadot and Binance Smart Chain) to create and control their native blockchain vaults and transfer the ownership to third parties. Users may also benefit from passive income without actively managing their portfolio. Alpha version is already available with beta and Polkadot’s parachain version still in development

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About APYSwap:

APYSwap is a protocol for decentralized cross-chain exchange of shares of Tokenized Vaults. Leveraging Layer-2 blockchain technology, APYSwap enables the trustless trading of tokenized yields across multiple Layer-1 blockchains. APYSwap can now support the most popular DeFi protocols on Ethereum, Polkadot, Binance Smart Chain, and Huobi ECO Chain. In addition, APYSwap platform will offer supplementary functionalities to its current features, further exploring innovative benefits for end-users and DeFi portfolio managers.

Product and features:

APYSwap consists of three layers: the protocol and smart contracts, the layer 2 aggregation marketplace as well as the user wallet on the top layer. APYSwap Vault is the underlying layer. It is a smart contract managing access to its funds and functionality to other blockchain agents depending on their share ownership of the vault. It can interact with any trustless service on the Ethereum, Polkadot and Binance Smart Chain networks.

Ownership of the vault is split between multiple agents by tokenization. This allows portfolio managers to create specific combinations of Liquidity Providers, Yield Farming and other tokens and enables the transfer of divisible shares of these portfolios to third parties. Therefore, instead of unlocking the assets for trading, users can instead trade APYSwap Vault shares. This provides liquidity to the previously illiquid assets without losing the rewards tied to assets remaining locked.

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Polkadot, Binance Smart Chain or Chromia blockchain can be used as Layer 2 networks to transfer or trade shares in APYSwap vaults, while the assets remain anchored to the Ethereum network. This also allows for the Uniswap-style exchange, where the users can exchange tokens on Chromia layer 2 without the high gas fees and Ethereum transaction times.

Portfolios and APYSwap Vault shares are available at APYSwap Marketplace. Marketplace transaction will be signed via APY Mask, a Metamask-style web wallet. This wallet may also be used to manage the APYSwap Vaults, transfer their ownership, etc. Users can login via APY Mask and vote with their APY token balance for the addition of new services or whitelist/blacklist certain DeFi projects.

Current share prices of the APYSwap Vault as well as the asset’s pool is determined by oracles. Fees in APY tokens are used to reward oracles’ honest reporting and tokens can be staked to vote for honest oracle selection. Share prices will be settled naturally by the market, since it is up to a buyer to decline or accept the price, offered by the seller. An oracle price assessment will also be implemented, where buyer/seller would be able to pay delegated oracles with APYSwap tokens in exchange for their services.

Users may choose to delegate control of their shares to the rebalancing contract via the on-chain or hybrid solution, select the rebalancing strategy and their portfolio will be automatically managed on their behalf.

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Token utility:

APYSwap tokens are used to safeguard and govern the APYSwap’s ecosystem. They ensure that only the reputable DeFi projects are available on the marketplace. Their role is to provide an insurance utility. Projects, interested in listing at the APYSwap’s marketplace, will have to purchase APY tokens and lock them.

If the project has proven to be untrustworthy, tokens will be unlocked and distributed as a compensation. A time limited yield farming opportunity will be launched in exchange for locking funds in the vault.

Token owners will be able to vote for new portfolio projects. At first, APY team and early adopters will provide portfolios and tokenized vaults. In the long term, the platform will shift towards the complete decentralization with community acting as decision makers.

Portfolio managers will be incentivized to purchase the APY tokens, since they can attract more users by offering unique projects in their portfolio. However, they will need tokens to vote for the addition of said projects into the APY’s whitelist. Therefore, portfolio managers will contribute to APY token’s market value.

Composing financial instruments with APYSwap

we will take a detailed look at the delegation procedure within the APYSwap. APYSwap has implemented a delegation function to increase the composability of users’ assets. Users are able to create and control vaults on their native blockchain and transfer vault’s ownership to the third parties. This enables them to enjoy various DeFi services without sacrificing the ownership of their assets. Now, let’s dive into the inner workings of the delegation procedure.

Working with Delegates

Delegate is an address that you own but its ownership can be transferred from one user to another. Transfer can be full or partial and it is a completely trustless system. To transfer the ownership, visit APYSwap’s website and select the desired chain. Connect your wallet and enter your APYMask (our version of MetaMask) password to unlock the delegates.

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You will be transferred to the delegates management menu.

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A new delegate can be created by simply pressing the “Create delegate” button. Notification will pop up, asking you to pay the required fee. After confirming it, a new delegate will be added to the list with an empty balance.

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You can top the new delegate’s balance by copying its address directly to clipboard and sending tokens via the APYMask’s prompt. As soon as they are transferred, they will be displayed in the delegates menu.

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Working with DeFi services

Now we will explain how ApyMask can be used to interact with DeFi services, by using PancakeSwap as an example. Select the delegate of your choice in APYMask. Your current balance will change accordingly, depending on which delegate you have chosen.

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Go to PancakeSwap’s Pool. Here you can create a new transaction by pressing the “Approve CAKE” and confirming it. The owner will sign the transaction, however the delegate will be the one used to transfer it. After the confirmation, transaction will be recognized by the service.

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You can stake your delegate assets by clicking the “plus” icon and selecting the amount you wish to deposit. Your assets will be displayed in the pool. Press the “Unstake CAKE” and confirm it to unstake the assets.

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If you are interested in transaction’s details, you can view it on BscScan. A link to BscScan is imbedded in your wallet.

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All transactions are from the owner to the Delegate, which calls smart contract on the owner’s behalf.

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Ownership transfer and withdrawal of assets

Asset’s ownership can be relinquished at any time by selecting the specific Delegate and paying an appropriate amount of fee.

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As soon as the ownership is relinquished, the interface will change, displaying your current share of the asset. However, you will not be able to withdraw it, unless your share is locked. Instead, you can transfer its ownership by selecting the appropriate button. Type in the recipient’s address as well as the size of the share you wish to transfer. Press “send” and the ownership transfer will be complete.

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You will notice that the share percentages have changed. Lock in your ownership to withdraw the assets. You cannot select the specific amount; the entire sum will be withdrawn, should you choose it.

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Assets can only be withdrawn once and any further withdrawal attempts will result in a failure.

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It is important to note that users are able to shop for delegates at the APYSwap Marketplace. They can trade the shares of APYSwap Vaults, rather than selling the constituent assets within them. This enables the trading of the locked assets, thus bringing liquidity to the previously illiquid assets without suffering the penalties tied to the lock-up periods. Lastly, portfolio managers can use it to their advantage by leveraging the lending protocol, creating a dividends-generating DeFi index funds. This wraps up our explanation of the delegation procedure.

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What is APYSwap (APYS) | What is APYSwap token | What is APYS token

Top 10 API Security Threats Every API Team Should Know

As more and more data is exposed via APIs either as API-first companies or for the explosion of single page apps/JAMStack, API security can no longer be an afterthought. The hard part about APIs is that it provides direct access to large amounts of data while bypassing browser precautions. Instead of worrying about SQL injection and XSS issues, you should be concerned about the bad actor who was able to paginate through all your customer records and their data.

Typical prevention mechanisms like Captchas and browser fingerprinting won’t work since APIs by design need to handle a very large number of API accesses even by a single customer. So where do you start? The first thing is to put yourself in the shoes of a hacker and then instrument your APIs to detect and block common attacks along with unknown unknowns for zero-day exploits. Some of these are on the OWASP Security API list, but not all.

Insecure pagination and resource limits

Most APIs provide access to resources that are lists of entities such as /users or /widgets. A client such as a browser would typically filter and paginate through this list to limit the number items returned to a client like so:

First Call: GET /items?skip=0&take=10 
Second Call: GET /items?skip=10&take=10

However, if that entity has any PII or other information, then a hacker could scrape that endpoint to get a dump of all entities in your database. This could be most dangerous if those entities accidently exposed PII or other sensitive information, but could also be dangerous in providing competitors or others with adoption and usage stats for your business or provide scammers with a way to get large email lists. See how Venmo data was scraped

A naive protection mechanism would be to check the take count and throw an error if greater than 100 or 1000. The problem with this is two-fold:

  1. For data APIs, legitimate customers may need to fetch and sync a large number of records such as via cron jobs. Artificially small pagination limits can force your API to be very chatty decreasing overall throughput. Max limits are to ensure memory and scalability requirements are met (and prevent certain DDoS attacks), not to guarantee security.
  2. This offers zero protection to a hacker that writes a simple script that sleeps a random delay between repeated accesses.
skip = 0
while True:    response = requests.post('https://api.acmeinc.com/widgets?take=10&skip=' + skip),                      headers={'Authorization': 'Bearer' + ' ' + sys.argv[1]})    print("Fetched 10 items")    sleep(randint(100,1000))    skip += 10

How to secure against pagination attacks

To secure against pagination attacks, you should track how many items of a single resource are accessed within a certain time period for each user or API key rather than just at the request level. By tracking API resource access at the user level, you can block a user or API key once they hit a threshold such as “touched 1,000,000 items in a one hour period”. This is dependent on your API use case and can even be dependent on their subscription with you. Like a Captcha, this can slow down the speed that a hacker can exploit your API, like a Captcha if they have to create a new user account manually to create a new API key.

Insecure API key generation

Most APIs are protected by some sort of API key or JWT (JSON Web Token). This provides a natural way to track and protect your API as API security tools can detect abnormal API behavior and block access to an API key automatically. However, hackers will want to outsmart these mechanisms by generating and using a large pool of API keys from a large number of users just like a web hacker would use a large pool of IP addresses to circumvent DDoS protection.

How to secure against API key pools

The easiest way to secure against these types of attacks is by requiring a human to sign up for your service and generate API keys. Bot traffic can be prevented with things like Captcha and 2-Factor Authentication. Unless there is a legitimate business case, new users who sign up for your service should not have the ability to generate API keys programmatically. Instead, only trusted customers should have the ability to generate API keys programmatically. Go one step further and ensure any anomaly detection for abnormal behavior is done at the user and account level, not just for each API key.

Accidental key exposure

APIs are used in a way that increases the probability credentials are leaked:

  1. APIs are expected to be accessed over indefinite time periods, which increases the probability that a hacker obtains a valid API key that’s not expired. You save that API key in a server environment variable and forget about it. This is a drastic contrast to a user logging into an interactive website where the session expires after a short duration.
  2. The consumer of an API has direct access to the credentials such as when debugging via Postman or CURL. It only takes a single developer to accidently copy/pastes the CURL command containing the API key into a public forum like in GitHub Issues or Stack Overflow.
  3. API keys are usually bearer tokens without requiring any other identifying information. APIs cannot leverage things like one-time use tokens or 2-factor authentication.

If a key is exposed due to user error, one may think you as the API provider has any blame. However, security is all about reducing surface area and risk. Treat your customer data as if it’s your own and help them by adding guards that prevent accidental key exposure.

How to prevent accidental key exposure

The easiest way to prevent key exposure is by leveraging two tokens rather than one. A refresh token is stored as an environment variable and can only be used to generate short lived access tokens. Unlike the refresh token, these short lived tokens can access the resources, but are time limited such as in hours or days.

The customer will store the refresh token with other API keys. Then your SDK will generate access tokens on SDK init or when the last access token expires. If a CURL command gets pasted into a GitHub issue, then a hacker would need to use it within hours reducing the attack vector (unless it was the actual refresh token which is low probability)

Exposure to DDoS attacks

APIs open up entirely new business models where customers can access your API platform programmatically. However, this can make DDoS protection tricky. Most DDoS protection is designed to absorb and reject a large number of requests from bad actors during DDoS attacks but still need to let the good ones through. This requires fingerprinting the HTTP requests to check against what looks like bot traffic. This is much harder for API products as all traffic looks like bot traffic and is not coming from a browser where things like cookies are present.

Stopping DDoS attacks

The magical part about APIs is almost every access requires an API Key. If a request doesn’t have an API key, you can automatically reject it which is lightweight on your servers (Ensure authentication is short circuited very early before later middleware like request JSON parsing). So then how do you handle authenticated requests? The easiest is to leverage rate limit counters for each API key such as to handle X requests per minute and reject those above the threshold with a 429 HTTP response. There are a variety of algorithms to do this such as leaky bucket and fixed window counters.

Incorrect server security

APIs are no different than web servers when it comes to good server hygiene. Data can be leaked due to misconfigured SSL certificate or allowing non-HTTPS traffic. For modern applications, there is very little reason to accept non-HTTPS requests, but a customer could mistakenly issue a non HTTP request from their application or CURL exposing the API key. APIs do not have the protection of a browser so things like HSTS or redirect to HTTPS offer no protection.

How to ensure proper SSL

Test your SSL implementation over at Qualys SSL Test or similar tool. You should also block all non-HTTP requests which can be done within your load balancer. You should also remove any HTTP headers scrub any error messages that leak implementation details. If your API is used only by your own apps or can only be accessed server-side, then review Authoritative guide to Cross-Origin Resource Sharing for REST APIs

Incorrect caching headers

APIs provide access to dynamic data that’s scoped to each API key. Any caching implementation should have the ability to scope to an API key to prevent cross-pollution. Even if you don’t cache anything in your infrastructure, you could expose your customers to security holes. If a customer with a proxy server was using multiple API keys such as one for development and one for production, then they could see cross-pollinated data.

#api management #api security #api best practices #api providers #security analytics #api management policies #api access tokens #api access #api security risks #api access keys

Autumn  Blick

Autumn Blick


Public ASX100 APIs: The Essential List

We’ve conducted some initial research into the public APIs of the ASX100 because we regularly have conversations about what others are doing with their APIs and what best practices look like. Being able to point to good local examples and explain what is happening in Australia is a key part of this conversation.


The method used for this initial research was to obtain a list of the ASX100 (as of 18 September 2020). Then work through each company looking at the following:

  1. Whether the company had a public API: this was found by googling “[company name] API” and “[company name] API developer” and “[company name] developer portal”. Sometimes the company’s website was navigated or searched.
  2. Some data points about the API were noted, such as the URL of the portal/documentation and the method they used to publish the API (portal, documentation, web page).
  3. Observations were recorded that piqued the interest of the researchers (you will find these below).
  4. Other notes were made to support future research.
  5. You will find a summary of the data in the infographic below.


With regards to how the APIs are shared:

#api #api-development #api-analytics #apis #api-integration #api-testing #api-security #api-gateway

An API-First Approach For Designing Restful APIs | Hacker Noon

I’ve been working with Restful APIs for some time now and one thing that I love to do is to talk about APIs.

So, today I will show you how to build an API using the API-First approach and Design First with OpenAPI Specification.

First thing first, if you don’t know what’s an API-First approach means, it would be nice you stop reading this and check the blog post that I wrote to the Farfetchs blog where I explain everything that you need to know to start an API using API-First.

Preparing the ground

Before you get your hands dirty, let’s prepare the ground and understand the use case that will be developed.


If you desire to reproduce the examples that will be shown here, you will need some of those items below.

  • NodeJS
  • OpenAPI Specification
  • Text Editor (I’ll use VSCode)
  • Command Line

Use Case

To keep easy to understand, let’s use the Todo List App, it is a very common concept beyond the software development community.

#api #rest-api #openai #api-first-development #api-design #apis #restful-apis #restful-api

Marcelle  Smith

Marcelle Smith


What Are Good Traits That Make Great API Product Managers

As more companies realize the benefits of an API-first mindset and treating their APIs as products, there is a growing need for good API product management practices to make a company’s API strategy a reality. However, API product management is a relatively new field with little established knowledge on what is API product management and what a PM should be doing to ensure their API platform is successful.

Many of the current practices of API product management have carried over from other products and platforms like web and mobile, but API products have their own unique set of challenges due to the way they are marketed and used by customers. While it would be rare for a consumer mobile app to have detailed developer docs and a developer relations team, you’ll find these items common among API product-focused companies. A second unique challenge is that APIs are very developer-centric and many times API PMs are engineers themselves. Yet, this can cause an API or developer program to lose empathy for what their customers actually want if good processes are not in place. Just because you’re an engineer, don’t assume your customers will want the same features and use cases that you want.

This guide lays out what is API product management and some of the things you should be doing to be a good product manager.

#api #analytics #apis #product management #api best practices #api platform #api adoption #product managers #api product #api metrics

Autumn  Blick

Autumn Blick


54% of Developers Cite Lack of Documentation as the Top Obstacle to Consuming APIs

Recently, I worked with my team at Postman to field the 2020 State of the API survey and report. We’re insanely grateful to the folks who participated—more than 13,500 developers and other professionals took the survey, helping make this the largest and most comprehensive survey in the industry. (Seriously folks, thank you!) Curious what we learned? Here are a few insights in areas that you might find interesting:

API Reliability

Whether internal, external, or partner, APIs are perceived as reliable—more than half of respondents stated that APIs do not break, stop working, or materially change specification often enough to matter. Respondents choosing the “not often enough to matter” option here came in at 55.8% for internal APIs, 60.4% for external APIs, and 61.2% for partner APIs.

Obstacles to Producing APIs

When asked about the biggest obstacles to producing APIs, lack of time is by far the leading obstacle, with 52.3% of respondents listing it. Lack of knowledge (36.4%) and people (35.1%) were the next highest.

#api #rest-api #apis #api-first-development #api-report #api-documentation #api-reliability #hackernoon-top-story