API3

API3 has announced that its oracle stack, including decentralized data feeds and quantum random number generator (QRNG), will be deployed on the X Layer Ethereum Layer 2 network. This integration will provide developers on X Layer with access to over 160 decentralized data feeds integrated with the OEV Network, enabling them to recapture protocol maximum extractable value (MEV). Additionally, the API3 QRNG will offer a high standard for generating truly random numbers on-chain, critical for fair and trustworthy outcomes in NFT mints, blockchain games, and games of chance. The deployment aims to support builders on X Layer, a zkEVM validium network offering unmatched scalability, low fees, Ethereum's security, unified liquidity within Polygon's ecosystem, near-instant transaction finality, and seamless integration with the OKX ecosystem.

API3 has announced the availability of several new price feeds on its decentralized oracle market. The latest addition is the PENDLE/USD feed for the governance token of Pendle Finance's yield trading protocol. Previous additions include feeds for USDB (Blast's auto-rebasing stablecoin), SEI (Sei Network's staking token), ONDO (Ondo Foundation's governance token), mpETH/ETH exchange rate (Meta Pool's liquid staking token), and pufETH/stETH exchange rate (Puffer Finance's yield-generating token). These feeds enable developers to build on-chain products across 17 blockchains using reliable and decentralized data sources.

Maximal Extractable Value (MEV) has become a significant issue in the DeFi ecosystem, leading to increased transaction costs, reduced liquidity provider profitability, and a negative impact on user experience. API3 has introduced the OEV Network, designed to recapture Oracle Extractable Value (OEV), a subset of MEV arising from oracle updates or lack thereof. The OEV Network aims to maintain the security guarantees of data feeds while allowing the value generated by oracle updates to be auctioned off and recaptured by the protocol. All API3 data feeds will be integrated with the OEV Network, enabling protocols to optimize performance and reduce the negative impact of MEV by simply reading any data feed on the API3 Market and enabling the OEV Network.

API3 DAO, a decentralized organization focused on providing decentralized APIs, has announced the renaming of their zkEVM network from its previous testnet name to 'X Layer'. This move comes as the organization prepares for the public launch of the network. The renaming is part of API3 DAO's efforts to establish a verifiable and decentralized ecosystem for sourcing data directly from its source.

API3DAO has announced its participation in Zircuit L2's Build to Earn program. This collaboration will provide developers on the Zircuit Layer 2 network with access to API3's oracle stack, enabling them to utilize over 160 data feeds, recapture oracle economic value (OEV), and access random numbers through the Quantum Random Number Generator (QRNG). API3DAO encourages developers to build with their services and get rewarded.

API3 has released a tutorial video demonstrating how to upgrade an existing oracle to be compatible with the OEV Network. The video, presented by API3's Developer Relations team member wc49358, walks through the process of using the API3 Oracle Adapter to modify an oracle after the associated contracts have already been deployed. This allows for seamless integration with the OEV Network, which aims to provide verifiable and decentralized data directly from the source.

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. Those with dAPIs displaying a 'Self-funded' label must take action by either purchasing a subscription or continuing to read the self-funded Nodary feed through a DataFeedProxy contract, following best practices outlined by API3. The update emphasizes the importance of not reading data feeds directly from the Api3ServerV1 contract and implementing mechanisms to switch proxy contracts as necessary.

API3, a decentralized oracle platform, has announced reaching a significant milestone of $500 million in Total Value Secured (TVS) across its oracle stack. This represents a substantial 25-fold increase from the beginning of the year, indicating rapid adoption of API3's services. The company attributes this growth to entering what it calls the 'exponential era of adoption' for its decentralized oracle solutions.

Pac Finance, a lending and margin trading protocol built on the Blast L2 network, has integrated the API3 oracle stack to power its decentralized lending services. By utilizing API3's decentralized data feeds, Pac Finance benefits from a built-in MEV solution provided by the OEV Network, enabling optimal protocol performance and recapturing of protocol MEV. Pac Finance offers peer-to-peer and peer-to-pool lending, native yield generation, zero-gas transactions, one-click leverage, and self-repaying loans.

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.