On July 5th, the decentralized oracle API3 officially announced that it will partner with Caldera to launch an oracle extractable value (OEV) network powered by Arbitrum Orbit. API3 says the OEV Network is a Layer 2 solution designed to update oracle data through dedicated order flow auctions, enabling searchers to bid on valuable oracle updates (such as clearing) without having to bribe block producers, and having their transaction rates first confirmed by the mainnet, with auction proceeds programmatically returned to the DApp.