What sort of things would be cached?

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Invoice state, so if your clients are polling invoice status they don't hit the node directly, node only populates the cache internally, and caches which invoices are from which node

I assume that's a pretty quick cache invalidation time? How will you determine that timing? User Configurable?

Yes very short, only a few seconds that the cluster owner can configure. But it disconnects the client from the node, so no matter what the end-user tries they can only ever read from the cache, and populating the cache happens based on internal logic.

It should make API calls way faster to get a response but the data is sometimes stale and make the load on the nodes more consistent and predictable.

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Brave man for working on a caching service.