Yei Finance integrates OEV Network to recapture oracle extractable value

Sei-based Yei Finance announced a major integration with the OEV Network to offer users new opportunities at the maximum extractable value regained.

OEV is a layer 2 solution that helps projects recapture extractable value from the oracle and return it to users. Meanwhile, Yei Finance is the largest money market platform on Sei (SEI).

By leveraging the OEV Network’s data feeds on API3, the integration with Yei means the Sei-based money market platform can unlock new opportunities with the recaptured MEV. API3 announced the collaboration via X on November 12.

“As the preferred lending platform on Sei, Yei Finance sets the standard in liquidity and capital efficiency for a wide range of assets. With the OEV Network integrated with all our data streams, Yei can begin to recapture MEV and thus unlock even more opportunities for innovation,” API3 wrote on X.

The collaboration will strengthen Sei’s blockchain lending and borrowing market and enable users to benefit from a more capital efficient ecosystem. Besides efficiency, the key to the partnership will be the growth of the decentralized finance market through Yei Finance’s rewards and incentives.

Yei Finance, a fork of Aave V3 (AAVE), launched its rewards program in June. Lenders’ incentives for Sei have seen their incentives for Sei increase significantly in the last three months.

Currently, SEI is the largest DeFi protocol in the ecosystem and is attracting interest from lenders as it offers returns on native token SEI and stablecoins Tether (USDT) and USDC (USDC).

According to DeFiLlama, Yei’s total worth is $338.6 million.

In comparison, the DeFi market’s largest lender, Aave V3, has a TVL of over $26 billion.