OEV Searchers → In Depth

Searchers

This part of the docs is dedicated to searchers. It details how OEV auctions work and explains basic searching strategies to simplify the onboarding of existing MEV searchers to OEV.

OEV dApps Catalog

We maintain an open-source list of all dApps that have integrated API3 feeds as part of the dApp registry. However, not all of the dApps are suitable for OEV extraction, so we provide a separate list of currently suitable candidates for OEV searching.

1. Hana protocol on Taiko
2. Lendle protocol on Mantle
3. Orbit protocol on Blast
4. Silo protocol on Arbitrum
5. Yei protocol on Sei

Currently, these protocols use outdated API3 proxies that support the previous version of OEV auctions, which are no longer supported. Searchers can still perform MEV with Signed APIs extraction though.

From MEV Searching

MEV searching has a well-established community and expertise in securing health and stability across many dApps and chains. We want to motivate this community to join OEV searching by outlining the steps to transition from MEV to OEV.

Let's emphasize that MEV searchers can still use their existing infrastructure and searching bots even when opting into OEV. OEV should be treated as an extension to MEV that searchers can capitalize on. OEV can increase profits through lower fees paid to block validators when compared to traditional MEV.

The following is a list of things that need to be done to enable an existing MEV bot to participate in OEV searching:

1. Bridge funds to the OEV network
2. Deposit funds to the OevAuctionHouse contract
3. Monitor off-chain signed data for dAPIs used by the dApp
4. Simulate the data feed update on-chain to determine OEV opportunities
5. Place a bid on the OEV Network
6. Wait for auction award
7. Use the award to update the on-chain data feed on target chain and capture the OEV

Most of these steps require small additions to the existing MEV bot, but it is required to understand the mental model behind OEV and our dAPIs. Because of this, we recommend starting with an in-between solution we call MEV with Signed APIs.