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API3 Launches OEV Network : The ZK-rollup to capture all oracle extractable value

Enhancing DeFi Revenue Security: API3's OEV Network Redefines Oracle Extractable Value for Crypto Projects

by Alexander
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API3 has unveiled OEV Network, a pioneering platform set to transform the capture of Oracle Extractable Value (OEV) within the decentralized finance (DeFi) landscape. OEV Network addresses the challenges faced by DeFi protocols in safeguarding their revenue streams from exploitation by third parties.

Addressing DeFi Challenges:

DeFi protocols heavily rely on Web3 service providers for essential functions like triggering liquidations and including transactions in blocks. However, these services are vulnerable to exploitation, resulting in substantial revenue leakage from DeFi platforms. OEV Network aims to mitigate this issue by providing a robust solution for capturing and returning OEV to respective DeFi platforms.

Innovative Platform Design:

Operating as a ZK-rollup, the OEV Network facilitates the capture of OEV from all decentralized applications (dApps) utilizing API3 data feeds across various chains. Powered by Polygon CDK, OEV Network leverages a specialized order flow auction platform to sell the rights for executing specific data feed updates to the highest bidder.

Ensuring Security and Scalability:

Ensuring scalability and security are paramount for OEV Network. By conducting auctions on-chain, the platform provides heightened security, transparency, and accountability. Leveraging Polygon CDK underscores API3’s commitment to technical excellence and innovation within the DeFi ecosystem.

Future Prospects and Collaboration:

As OEV Network evolves, it promises to adapt to emerging needs and challenges within the DeFi landscape, offering a robust solution for securing Oracle Extractable Value. Projects interested in leveraging the OEV Network with API3 data feeds can explore opportunities by reaching out to API3 directly.

The launch of the OEV Network marks a significant milestone in API3’s mission to fortify DeFi protocols against revenue exploitation. With its innovative approach and commitment to security, OEV Network holds the potential to redefine the DeFi landscape, empowering protocols with a newfound source of revenue and resilience against exploitation.

If you’re eager to pioneer the utilization of the OEV Network with any of the feeds available on https://market.api3.org, then Connect at contact@api3.org | Twitter | Discord

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