KEY TAKEAWAYS
- API3’s Oracle Stack is now live on ApeChain, offering developers access to over 180 data feeds through the API3 Market and OEV Network.
- The integration with ApeChain provides a solution for recapturing Maximum Extractable Value (MEV), enhancing protocol performance for decentralized applications.
- ApeChain leverages $APE as its native gas token and benefits from Arbitrum’s security, enhancing the blockchain experience for developers and users.
- API3’s first-party oracle architecture ensures secure and efficient data delivery directly from the source, aligning with blockchain principles of transparency.
API3 has announced that its Oracle Stack is now live on ApeChain, providing developers with access to over 180 data feeds through the API3 Market and the OEV Network. This integration allows developers on ApeChain to access verifiable, multi-source data feeds (dAPIs) powered by first-party oracle nodes, which are operated directly by the data providers.
The integration of the OEV Network with all of API3’s data feeds on ApeChain offers a built-in solution for recapturing Maximum Extractable Value (MEV). Instead of protocols losing value to searchers and block builders, the proceeds from oracle update auctions are returned to the decentralized application (dApp) where the value originated. This leads to improved execution for users and enhanced protocol performance for dApps.
Enhancing Blockchain Experience with ApeChain
ApeChain is designed to transform the blockchain experience by focusing on ecosystem discovery, unique web3 rails, and top-of-funnel exposure for developers and users. By concentrating on three key areas—Content, Tools, and Distribution—ApeChain aims to improve user interactions and developer efficiency within the blockchain ecosystem.
Leveraging innovative infrastructure and the use of $APE as its native gas token, ApeChain enhances the utility of $APE and creates a dynamic economic framework. As an Arbitrum Orbit chain, ApeChain strategically settles on Arbitrum One, benefiting from its security and infrastructure while maintaining the advantages of being an independent chain. This Layer 2 approach allows ApeChain to inherit Ethereum’s liquidity and security while fostering coordination with Arbitrum developers.
API3’s First-Party Oracle Architecture
API3’s first-party oracle architecture brings data directly from the source, with oracle nodes operated by the data providers themselves. This decentralized and verifiable design eliminates intermediaries, offering a more secure and efficient method for bringing data onchain. The architecture aligns with blockchain principles of transparency and onchain verification.
With the introduction of dAPIs on ApeChain, developers gain direct access to a wide range of real-time data. This solution simplifies the process for dApps and chains requiring oracle services, allowing them to read data natively maintained on ApeChain. This ease of use facilitates the rapid adoption and scaling of DeFi ecosystems.
The OEV Network creates an efficient market where oracle service providers and searchers collaborate to mitigate the negative impact of MEV through specialized order-flow auctions. This network gives every lending and borrowing protocol on ApeChain a built-in MEV solution, improving the health of these dApps and capturing significant financial opportunities.
For more information, developers can explore the API3 Market, which offers an easy way to browse, access, and manage a variety of data feeds. The announcement was made here.
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