What is SEDA Protocol?

SEDA is a multichain, permissionless protocol connecting real-world data to any network on-chain. SEDA allows smart contracts from any network to query data from the real world or any other network. Going beyond today’s definition of an oracle, SEDA is a multichain-native data transmission protocol built on an entirely decentralized foundation. SEDA utilizes PoS security guarantees for its time-tested cryptography, strong backstops, configurability, and computability.

The SEDA Network is permissionless by design. Information and value can be validated, exchanged, relayed, and requested by any entity across any network with shared security. Every step in the SEDA network is strongly secured by cryptographic primitives and economic guarantees.

Existing holders of the FLX utility token will have the ability to upgrade, one-to-one, to the new token standard that will power the SEDA Network. The SEDA Token will act as the main utility token and will be launched with the mainnet deployment of the protocol. With this new token standard, changes to the token economics will be applied that introduce:

• Deflationary Mechanic — protocols burn SEDA Tokens to request data
• Inflationary Mechanic — main-chain and sub-chain validators get newly minted SEDA Tokens for securing the network and bridging data to sub-chains
• Network Governance — any SEDA Token holder can participate in the governance of the SEDA Network to control parameters like inflationary rewards, the SEDA token treasury, and much more.