API3 Launches Layer-2 OEV Network Mainnet

IconCryptoNewsTerminal Staff09 Jul, 2024

cryptonews.jpg

API3 Launches Layer-2 OEV Network Mainnet

Decentralized oracle provider API3 has announced the launch of the OEV Network mainnet, a Layer-2 solution utilizing Arbitrum's Orbit technology stack. The OEV Network is fully integrated with the API3 oracle stack, enabling the recovery of Oracle Extractable Value (OEV) lost due to liquidations for all lending protocols leveraging API3 data feeds. According to API3, the OEV Network offers several benefits, including: Enhanced Capital Efficiency: The OEV Network allows lending protocols to leverage API3 data feeds without the risk of liquidation due to oracle failures. Increased Security: The OEV Network utilizes Arbitrum's Orbit technology stack, which provides increased security and reliability for oracle data. * Reduced Costs: The OEV Network leverages Layer-2 technology to reduce transaction costs for users.

Related News