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.