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API3, a pioneer in decentralized APIs for blockchain platforms, has announced a strategic shift in its deployment approach for the upcoming OEV Network.
The API3 team initially partnered with Polygon but pivoted after the timeline was too tight for their launch. This comes as API3 looks to remain nimble in its development and offer a product that is perfectly synced with the wants of markets and developments in technological fields.
The move to Arbitrum Orbit is the beginning of a new era for API3. This is known as Arbitrum Orbit, which has established itself in delivering an easy-to-launch Layer 2 and Layer 3 network with powerful scalability and efficacy.
As the launch of OEV Network draws nearer, we want to provide you with an important update on the infrastructure decisions made by the API3 Core Technical team.
— API3 (@API3DAO) June 27, 2024
Initially, we chose to partner with Polygon for the launch of the OEV Network, believing that the Polygon zk-rollup… pic.twitter.com/b1o1ndUuiJ
Such a move is expected to help speed up the deployment of the OEV Network, an offering that has been crafted for and ensures broad support in DeFi. API3 is now undertaking closed beta focus group efforts which pave the way for a rapid expansion towards full launch.
Leveraging Arbitrum for Enhanced Oracle Services
The strategic shift to Arbitrum Orbit not only underscores API3’s adaptability but also highlights their continuous endeavor to harness cutting-edge technology to serve the DeFi community better. Arbitrum Orbit provides distinct advantages in terms of transaction speed, operational costs, and scalability—factors that are crucial for the effective functioning of decentralized oracle services.
Through the integration, API3 hopes to redefine what is possible in oracle services with a focus on how these interact with protocol-maximized extractable value (MEV) solutions.
An OEV Network from API3 could offer a much-wanted paradigm shift where decentralized oracle networks are concerned. By providing oracle services as a part of the MEV recapture protocol solutions, API3 is paving the way for creating a safer and more efficient blockchain ecosystem.
The anticipation surrounding the OEV Network is high, as it is expected to offer unprecedented capabilities to DeFi protocols, enhancing their operational efficiency and security.