Yei Finance Joins OEV Network to Reclaim Oracle Value

A significant integration with OEV Network has been announced by Sei-based Yei Finance, with the aim of providing users with new opportunities to recapture the utmost extractable value

OEV is a layer-2 solution that enables projects to reclaim oracle extractable value and return it to consumers. In the interim, Yei Finance is the most extensive money market platform on Sei.

By integrating with Yei, the Sei-based money market platform can unleash new opportunities with recaptured MEV, as the OEV Network supercharges the data feeds on API3. On November 12, API3 disclosed the partnership through X.

The partnership will expand Sei’s blockchain lending and borrowing market, enabling consumers to access a more capital-efficient ecosystem.

The decentralized finance market’s expansion will be essential to the partnership, in addition to its efficacy, and Yei Finance’s incentives and rewards will be essential.

In June, Yei Finance, a derivative of Aave V3, implemented its rewards program. In the past three months, the incentivization of lenders on Sei has resulted in a substantial increase.

At present, it is the most significant DeFi protocol in the SEI ecosystem due to its ability to attract financiers with its yields on the native token SEI and stablecoins Tether and USDC.

Yei’s total value is $338.6 million, as per DeFiLlama.

In contrast, Aave V3, the largest lender in the DeFi market, has over $26 billion in TVL.