UMA has officially introduced Oval, a novel product designed to optimize the use of oracle data by defi protocols. This tool changes how protocols manage oracle-based MEV, enhancing efficiency and fairness in Ethereum’s blockchain profits.
Oval Launch by Uma Aims to Redistribute Profits Back to Defi Protocols
Ethereum-based oracle protocol Uma unveiled its latest product Oval today, which Uma claims “lets lending protocols capture Oracle Extractable Value by auctioning the right to liquidate positions.” The new tool is designed to enable defi protocols like lending protocols such as Aave and Compound, to more efficiently utilize oracle data.
Oval’s introduction addresses a particular subset of Maximal Extractable Value (MEV), that Uma calls Oracle Extractable Value (OEV). MEV refers to the profit that miners, validators, or searchers can make through manipulating the order of transactions in a blockchain block. MEV arises because the sequence of transactions can significantly i
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