Important Update for API3 Market Users
Important Update for API3 Market Users
⚠️ API3 Change Incoming
API3 has announced that starting March 31, dAPIs with no active subscriptions will no longer be pointed to self-funded Nodary feeds. Users utilizing a DapiProxy contract may be impacted and should check if their dAPI displays a 'Self-funded' label. If so, they need to either buy a subscription for that data feed or continue reading the same self-funded Nodary feed through a DataFeedProxy contract as per API3's best practices guidelines. Failure to take action may result in disruption of data access.
ℹ️ Important Update for API3 Market Users API3 has been pointing dAPIs with NO ACTIVE subscriptions to self-funded Nodary feeds. This will change on March 31. 🗓️ If you're utilizing a DapiProxy contract, please read on, as these changes may impact you. Is my dApp impacted by
OEV Network Revolutionizes Oracle Updates and L2 Performance
OEV (Oracle Extractable Value) Network is transforming how oracle updates and liquidations function on L2s: - Eliminates block-level spam during oracle updates and liquidations - Creates a controlled environment for update timing - Establishes an efficient market for oracle updates - Allows searchers to bid on valuable updates - Moves data competition off-chain, improving L2 performance The system replaces probabilistic arms races with definitive outcomes, addressing issues caused by limited data feed granularity. Searchers can now participate in an ongoing market rather than waiting for updates.
Compound Finance Explores Oracle Extractable Value Capture with Api3 Integration
Compound Finance is advancing its strategy to capture Oracle Extractable Value (OEV) through a new proposal to integrate Api3 across all Compound deployments. This follows earlier efforts with Oval integration, which identified up to $90M in potential OEV from Compound V2 & V3 protocols. - **Key Integration**: Proposed immediate Api3 implementation across all deployments - **Previous Initiative**: Earlier Oval integration aimed at OEV capture - **Potential Value**: Up to $90M identified in extractable value - **Technical Approach**: Leverages Flashbots MEV-share technology [View full proposal](https://www.dropbox.com/scl/fi/papr8bdy4y0q0wlxuz15t/Api3-Beyond-Data-Feeds.pdf)
Step by step
A steady progression continues as planned. The initiative maintains its forward momentum through systematic implementation of key milestones. Key developments: - Consistent advancement toward established objectives - Methodical execution of planned phases - Sustained progress in line with timeline The measured approach demonstrates commitment to thorough and deliberate progress rather than rushed deployment.
ETHPrague Conference to Address DeFi Value Recapture Through OEV
The upcoming ETHPrague conference (May 27-29) will feature discussions on Optimistic Execution Value (OEV) in DeFi protocols. The event aims to educate developers and protocol owners about: - Methods to recapture value currently being lost in DeFi operations - Implementation strategies for OEV integration - Revenue enhancement opportunities for protocols The conference follows a successful presentation at ETH Bratislava, where similar topics were explored. Attendees can find representatives for detailed discussions by looking for Api3-branded participants.
Oracle Migration Guide: Earn Rewards and Enhance Security
A new migration guide helps lending protocols transition from Chainlink to API3, offering multiple benefits: - Earn revenue through Oracle Extractable Value (OEV) Rewards - Enhance security with multi-oracle support - Seamless upgrade process that maintains system stability The guide comes as lending protocols increasingly recognize untapped revenue potential in oracle services. @MetisDevs workshop provides implementation support for protocols looking to upgrade their oracle infrastructure.