userpoints_userpointsapi() as been replaced with a new function called userpoints_grant_points(). The function has two required arguments, first the operation to identify the type of the transaction and the amount of points ( can be positive or negative, just like before). The optional third argument is the user id, which defaults to the current user.
The function will then return a UserpointsTransaction instance which provides a number of methods to add additional information to this transaction, like the related entity, status and so on. See the linked documentation page for a detailed overview of all available methods.
Two examples, copied from the documentation from the linked userpoints_grant_points() documentation:
// Adding points to the current user, relying on automatic saving.
userpoints_grant_points('mymodule_type_action', $points);
// Grant points to another, add a entity reference to a node and save
// explicitly.
userpoints_grant_points('mymodule_type_otheraction', $points, $account->uid)
->setEntity($node)
->save();