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Sei-based Yei Finance has announced a major integration with OEV Network to bring fresh opportunities in recaptured maximum extractable value to users.
OEV is a layer-2 solution that helps projects to recapture oracle extractable value and return this to users. Meanwhile, Yei Finance is the largest money market platform on Sei (SEI).
With the OEV Network supercharging the data feeds on API3, integration with Yei means the Sei-based money market platform can unlock new opportunities with recaptured MEV. API3 revealed the collaboration via X on Nov. 12.
“As the go-to lending platform on Sei, Yei Finance sets the standard in liquidity and capital efficiency for a wide range of assets. With OEV Network integrated with all our data feeds, Yei can start recapturing MEV – unlocking even more opportunities for innovation,” API3 wrote on X.
The collaboration will boost Sei’s blockchain lending and borrowing market, with users able to tap into a more capital efficiency ecosystem. As well as efficiency, key to the partnership will be growth of the decentralized finance market, with Yei Finance’s rewards and incentives crucial.
Yei Finance, a fork of Aave V3 (AAVE), launched its rewards program in June. The incentivization of lenders on Sei has seen it grow significantly in the past three months.
Currently, it’s the largest DeFi protocol within the SEI ecosystem as its offering of yields on the native token SEI and stablecoins Tether (USDT) and USDC (USDC) attracts lenders.
According to DeFiLlama, Yei’s total value is $338.6 million.
In comparison, DeFi market’s largest lender Aave V3 has over $26 billion in TVL.