API3 to Introduce New OEV Auction Mechanism in October
API3 announced that a new mechanism for OEV (Oracle Extractable Value) auctions will go live at the end of October. The upgrade is aimed at significantly improving efficiency, and current OEV participants are advised to monitor the update closely.
Refer to the official tweet by API3:
Api3@Api3DAOOct 03, 2025🚨 Upcoming Changes to OEV Auctions 🚨
At the end of this month, a new mechanism for OEV auctions will be introduced. This upgrade is designed to significantly improve efficiency.
Searchers currently partaking in OEV auctions should make sure to follow the announcement closely.
API3 Info
API3 is a project that focuses on delivering traditional dAPI services for Web3 applications. The project is governed by a decentralized autonomous organization (DAO), specifically the API3 DAO.
Traditional API services are centralized, meaning they are owned and controlled by individual companies or organizations. This creates a range of issues in terms of transparency, security, and reliability. API3 addresses these problems by offering fully decentralized APIs.
The API3 token is used within the project's ecosystem as a means to incentivize network participants, including node operators and developers, to engage in voting and DAO governance.