API3’s Oracle Stack is live on World Chain

We are excited to announce that API3’s Oracle Stack is available on World Chain, giving developers access to over 170 data feeds on the API3 Market and the OEV Network to recapture protocol MEV due to oracle updates. Developers on World Chain can now access verifiable, multi-source, decentralized data feeds (dAPIs) powered by first-party oracle nodes, which are operated directly by the data providers. 

With OEV Network being integrated with all of API3’s data feeds on World Chain, developers will have a built-in solution for recapturing MEV. Rather than protocols leaking value to searchers and block builders, the proceeds from oracle update auctions are programmatically returned to the dApp where the value originated, leading to better execution for users and better protocol performance for dApps. 

World Chain is a blockchain designed with a human-centric approach, emphasizing accessibility, user empowerment, and community-driven governance. As an open-source, permissionless Layer 2 network secured by Ethereum, World Chain is built on the OP Stack and integrated into the Superchain, providing better scalability and interoperability.  With a launch base of over 14.5 million users, it leverages innovative features like Priority Blockspace for Humans (PBH) to prioritize genuine, human-verified transactions over automated systems, thus mitigating the impact of MEV attacks and reducing gas fees for users. This human-first model fosters an inclusive ecosystem where verified users benefit from simplified and cost-effective transactions.

What truly sets World Chain apart are its unique primitives, such as free gas fees for verified individuals, native mobile distribution through mini-apps, and Sybil resistance powered by World ID. These features enable developers to build new applications that can reach a global audience with minimal barriers. World Chain's dedication to creating a blockchain for real human interaction, combined with its seamless integration into the Superchain and Ethereum’s security, presents new opportunities for bringing the world onchain. 

Developers looking to utilize data feeds on World Chain can visit the API3 Market. The API3 Market provides an easy way to browse, access, and manage a wide variety of data feeds, including popular cryptocurrencies, LSTs, LRTs, and stablecoins. 

Simply Read Verifiable, Decentralized Data to Power dApps

API3’s first-party oracle architecture maintains data onchain directly from the data providers. This decentralized and verifiable design eliminates rent-seeking middlemen and offers a more secure and efficient method for bringing data onchain. 

One of the key benefits of dAPIs is the ease of use for dApps and chains requiring oracle services. Rather than having to manage their own infrastructure, dApps can simply read data that is natively maintained on World Chain. This solution makes it easy for dApps to quickly and easily migrate to World Chain from other EVM-compatible chains, allowing for the rapid adoption and scaling of DeFi ecosystems. 

API3’s first-party oracle architecture leverages data directly from the source. The oracle nodes are operated by the data providers themselves, bringing cryptographically signed data onto the blockchain. This allows dAPIs to be verified down to the API parameters and aligns with core principles of the World Chain ethos of transparency and onchain verification.

Protocols like Aave, Compound, and various DEXes all rely on data maintained directly on the consumer chain. API3 addresses this need by maintaining data on the native-chain in a verifiable and decentralized way. With the introduction of dAPIs on World Chain, developers gain direct access to a wide assortment of real-time data straight from the source.

OEV Network: An Application-Specific Solution to Recapture MEV

DeFi protocols that rely on oracles leak a lot of MEV. For protocols like lending dApps, this amounts to millions of dollars a year. 

OEV Network creates an efficient market where oracle service providers and searchers come together to combat the negative impact of MEV through specialized order-flow auctions. With OEV Network, searchers don’t need to wait for the price to update onchain, they can trigger the price update when it is most valuable. As an application-specific solution, it captures all the MEV created at the protocol level due to oracle updates and gives it back to the dApp that generated the value.OEV Network gives every lending and borrowing protocol on World Chain a built-in MEV solution by improving upon critical inefficiencies in the current oracle design space. By leveraging the security of a Layer 2 to create an efficient market for oracle updates, it not only improves the health of lending and borrowing dApps but also allows them to capture a multi-million dollar opportunity. 

Getting Started with API3’s Oracle Stack

API3’s Oracle Stack is easy to implement and offers a flexible, scalable solution for developers building on World Chain. For those new to dAPIs, a developer Getting Started with dAPIs Video is available to guide you through the API3 Market.

For more information about dAPIs or OEV Network, visit our website, follow us on Twitter, or explore the technical documentation.