API3 Unveils OEV Network to Empower Lending Protocols
API3's new OEV Network is a game-changer for lending protocols, offering a solution to recapture lost value due to MEV. This Layer 2 solution, built on Arbitrum Orbit, creates a marketplace for oracle updates.
Traditionally, lending protocols pay substantial bonuses for liquidations, with most of the value going to block builders. The OEV Network shifts this by allowing protocols to earn from these opportunities.
The network utilizes an onchain auction system powered by Arbitrum Orbit, ensuring a secure and transparent bidding process for oracle updates.
In partnership with Caldera, a leading Rollup-as-a-Service provider, the OEV Network is set to become the premier solution for recapturing protocol MEV.
This innovation not only provides data feeds but also generates revenue for protocols, potentially reshaping the lending landscape. As we move towards a future of onchain finance, the OEV Network stands as a testament to API3's commitment to secure and efficient DeFi solutions.
