UMA Launches Oval Solution for Decentralized Oracles in DeFi Protocols
6:00 AM・Jan 24, 2024
According to Foresight News, decentralized oracle UMA has introduced the Oval solution, allowing DeFi protocols to access the value generated during oracle updates by utilizing 'oracle extractable value' (OEV). The Oval solution is a collaborative effort between UMA and Flashbots.
The new solution aims to improve the efficiency of decentralized finance protocols by enabling them to tap into the value generated during oracle updates. This is achieved through the use of oracle extractable value, a concept that allows DeFi protocols to benefit from the information provided by decentralized oracles.
UMA's partnership with Flashbots, a research and development organization focused on minimizing the negative externalities of current MEV extraction techniques, has led to the development of the Oval solution. This collaboration aims to enhance the overall performance of DeFi protocols and promote a more efficient and secure ecosystem for decentralized finance.