KEY TAKEAWAYS
- API3’s Oracle Stack is now live on the Sonic blockchain, offering developers access to over 190 data feeds and enhancing protocol performance.
- Sonic’s EVM-compatible Layer 1 blockchain supports over 10,000 TPS, providing a high-performance environment for developers.
- API3’s first-party oracle architecture ensures secure, verifiable data directly from providers, eliminating middlemen.
- The integration of the OEV Network with API3’s data feeds on Sonic helps recapture MEV, benefiting DeFi protocols.
API3 has announced that its Oracle Stack is now live on the Sonic blockchain, providing developers with access to over 190 data feeds available on the API3 Market and the OEV Network. This integration allows developers to recapture protocol Maximum Extractable Value (MEV) due to oracle updates, enhancing both user execution and protocol performance.
Developers on Sonic can now utilize verifiable, multi-source data feeds (dAPIs) powered by first-party oracle nodes, which are operated directly by data providers. The integration of the OEV Network with all of API3’s data feeds on Sonic offers a built-in solution for recapturing MEV. Instead of protocols losing value to searchers and block builders, the proceeds from oracle update auctions are returned to the originating dApp, improving execution and performance.
Sonic’s High-Performance Blockchain Features
Sonic is an EVM-compatible Layer 1 blockchain designed for exceptional speed, scalability, and developer support. It achieves over 10,000 transactions per second (TPS) with sub-second confirmation times, making it suitable for high-performance applications. Sonic’s infrastructure empowers developers to create seamless user experiences while maintaining robust security.
The platform offers developer-friendly features and incentive programs, such as Fee Monetization, which allows developers to earn up to 90% of their app’s fees. The Innovator Fund further supports teams by encouraging the adoption of new applications and innovative ventures. Sonic’s technology stack includes a virtual machine for fast, EVM-compatible execution and a database storage system that provides low-latency performance with minimal maintenance costs.
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 design ensures that data is cryptographically signed and verifiable, aligning with blockchain principles of transparency and onchain verification. The architecture eliminates the need for middlemen, offering a secure and efficient method for bringing data onchain.
With the introduction of dAPIs on Sonic, developers gain direct access to real-time data from the source. DeFi protocols that rely on oracles often experience significant MEV leakage. The OEV Network addresses this by creating an efficient market for oracle updates, capturing MEV at the protocol level and returning it to the dApp that generated the value. This solution enhances the health of lending and borrowing dApps on Sonic, allowing them to capture substantial financial opportunities.
For more information about API3’s Oracle Stack on Sonic, visit the official announcement here.
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