As a seasoned researcher with a keen interest in blockchain technology and decentralized finance (DeFi), I find the recent partnership between Yei Finance and OEV Network to be an exciting development. Having closely followed the evolution of DeFi platforms, it’s fascinating to see how Yei Finance, a relative newcomer, is making waves with its innovative strategies.
Yei Finance, using the Sei platform, has revealed an integral partnership with OEV Network, aiming to provide new chances for users to maximize their recoverable value.
OEV functions as a layer-2 service that enables projects to reclaim Oracle-extracted value and redistribute it among users. On the other hand, Yei Finance stands out as the most significant money market platform within the SEI network.
Through the enhanced data streams provided by the OEV Network within API3, integrating with Yei will empower the Sei-centric money market platform to explore fresh possibilities using recovered Miner Extractable Value (MEV). This partnership was announced by API3 on November 12 via X.
On Sei’s premier lending stage, Yei Finance leads the way in liquidity and capital effectiveness across various asset types. By integrating OEV Network with all our data streams, Yei is now able to capture MEV, opening up new avenues for innovation, as stated by API3 on X.
The collaboration will boost Sei’s blockchain lending and borrowing market, with users able to tap into a more capital efficiency ecosystem. As well as efficiency, key to the partnership will be growth of the decentralized finance market, with Yei Finance’s rewards and incentives crucial.
In June, Yei Finance – a spin-off from Aave V3 (AAVE) – initiated its rewards program. Since then, there’s been substantial growth in the platform due to the encouragement of lenders on Yei, which has lasted for the past three months.
At present, it stands as the most prominent DeFi protocol within the SEI network, primarily due to its yield provision on the SEI token and stable coins like Tether (USDT) and USD Coin (USDC), which serve as magnets for lenders.
According to DeFiLlama, Yei’s total value is $338.6 million.
In comparison, DeFi market’s largest lender Aave V3 has over $26 billion in TVL.
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2024-11-12 20:44