We identified the cause of the API slowness and we believe the issue is now resolved based on our monitoring of response times .

Based on average response times:
In Europe this went from more than 20s to ~100ms
In Australia this went from 5s to ~100ms

We are continuing to work on additional performance improvements however the current issue is now considered resolved.

We have identified (via monitoring and tickets logged) slow API performance in multiple locations. This shows up as "500" errors as well as slow response times ("lag") in the User Interface.