API3: OEV Network Mainnet Officially Launched

API3 announces the official launch of the OEV Network mainnet. The OEV Network allows any lending protocol using API3 data sources to reclaim the Oracle Extractable Value (OEV) lost during liquidation. As of the release, several protocols are fully integrated with the OEV Network across multiple chains, including Orbit Protocol, INIT Capital, and Lendle.

The OEV Network is the first Layer 2 solution that combats the negative impact of Oracle Extractable Value through dedicated transaction-based oracle update auctions.