Api3 Speeds Up Arbitrum Auctions on OEV Network on September 8th
Api3 announces that starting September 8 at 10:00 UTC, the duration of Arbitrum auctions on the OEV Network will be reduced from 30 seconds to 15 seconds. This follows over 9 months of uninterrupted uptime and more than 1,500 completed auctions. The update is expected to cause minimal downtime, with completion to be confirmed via the OEV Discord channel.
Refer to the official tweet by API3:
Api3@Api3DAOSep 02, 2025OEV Network Update
After 9+ months of 100% uptime and 1,500+ auctions, we’re speeding things up.
👉 @Arbitrum auction length reduced: 30s → 15s
🗓ï¸ Monday, Sept 8 @ 10:00 UTC
We expect minimal downtime & will confirm completion in our OEV Discord Channel.
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.