Welcome to Bankless, where we explored the frontier of D-Fi market structure and capital efficiency.

Today on the show we're talking about Oval, a new D-Fi primitive that Heartlander from UMA is

introducing to the world of D-Fi's biggest lending markets. Billions of

dollars have been liquidated from protocols like Ave, Compound, and Maker Dow

over the years and these liquidations have been extremely

inefficiently priced due to reasons, reasons that will be discussed here on the show today.

The long arc of Defi has been one that trends towards capital efficiency, efficient price discovery,

and ultimately better quality products for its users.

This episode today discusses a new mechanism to further Defi's maturity on this very important arc.

Hazu also joins us on this conversation today to discuss the way that MEV share from FlashB

Bots is a part of this conversation, as well as helping illuminate the further direction that Defi is going forward as a whole with mechanisms like this.

One more part of this conversation that I want to add here that was unsaid in the podcast.

This conversation is about bringing mechanisms into Defy that allows Defy to leak less value to

MEV bots, allowing Defy customers and users to retain all of that value and also increasing

the economic viability of the Defy App layer on etherealum and in crypto broadly.

This is a transfer of value away from me v arbitrators to Defy Apps.

What this ultimately means is that this is a transfer E.

This ultimately means is that this is a transfer of value away from E-validators,

the ultimate beneficiaries of MEV and towards the users and customers of

D-Fai products on the Ethereum app layer.

As long been known, the ultimate destination of the Defy landscape,

no matter what chain we're talking about,

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