About

SEDA is a programmable oracle network that connects on chain builders to application-specific data feeds. It enables access to millions of feeds through a single integration and allows querying of any data type. SEDA’s flagship oracle programs offer custom feeds for RWAs, any token assets, and specialized programs for modular verification.

SEDA supports queries to both public API endpoints and private data suppliers. Developers can configure Oracle Programs to access various application-specific data. As an alternative to default data sets, SEDA offers a customizable approach to data feed curation, aiming to make all data accessible for any network.

SEDA’s Oracle Programs allow developers to configure data request parameters, including query sources, methodology, filtration, and data types. The remaining architecture serves as an omnichain data access and transmission medium, ensuring the free flow of all data between any network. The SEDA Network is built using a distributed architecture consisting of a decentralized Solver network, independent Overlay network, a PoS Main Chain, and protocol-deployed Oracle Programs.

History

Asset Function

1. Network Utilization

• Playing a crucial role in data request life-cycles: Solvers maintain an inventory of SEDA tokens to facilitate the communication of data requests between data requesting networks and SEDA. When relaying a data request for processing on the SEDA Network, solvers use SEDA tokens equivalent to the value of the data request.

2. Network Participation & Chain Security

• SEDA tokens for main chain validation: SEDA Tokens serve a functional role in securing and maintaining the integrity of the SEDA Network. Token holders can participate in the network by staking their SEDA Tokens, either by running their own validator node or delegating their tokens to a professional node operator. Within the network, the PoS mechanisms are designed to encourage active participation and honest behaviour to support network security and integrity. Network participants contribute to network stability and may receive incentives through mechanisms such as fee allocations and staking rewards based on network parameters.
• Security Measures: The SEDA Chain and Overlay Network implement security measures consistent with layer one networks. These security mechanisms are facilitated through game theory, cryptography, strong backstops, and high configurability and computability.
• Token creation via Cosmos SDK network inflation parameters: Network inflation is a parameter inherent in the Cosmos SDK to develop the SEDA Chain. During the development phase of SEDA, the network inflation rate will be set to zero. Network inflation rates can be activated through a governance proposal before the launch of mainnet v1.0.

3. Network Governance:

• Token holders can participate in governance proposals initiated by the network participants. Holders can post and vote on proposals for network changes, such as updates to consensus mechanisms or parameter adjustments.

Founders Background Peter Mitchell and Jasper de Gooijer are the co-founders of SEDA Protocol.

Peter, the CEO, started his career in blockchain pioneering decentralized applications such as EveryDapp.com, the first Ethereum dApp store. Later Peter co-founded Flux.Market, a derivatives app, which enabled +$150 billion of value to be transferred on a suite of L1s. His firsthand experience building consumer applications, open market protocols, and oracle solutions has shaped his vision for SEDA and its role in the next evolution of Web3 infrastructure.

Jasper, the CTO, began building on-chain by developing early Ethereum Layer 2 scaling solutions. Jasper’s expertise has been shaped by previous roles working on cryptographic systems at Finality Labs, building a derivatives trading app, Flux.Market, and working with optimistic & first-party oracles.

Project Milestones

• 2024 Achievements: 2024 focused on the rollout of the SEDA mainnet beta chain to facilitate a token upgrade from FLX to SEDA tokens, marking the first step to deploying a v1 feature complete network.

• Key 2024 Achievements

  • Beta Mainnet Launch
  • FLX to SEDA Token Upgrade Event
  • Devnet v0.2: Single Overlay Node, Data filtration modules, and on-chain core contracts deployed.
  • Devnet v0.2.1: EVM Solver and first prover contracts rolled out to Base Sepolia and Sepolia.
  • Devnet v0.3: Data proxy functionality added, first data providers integrated, protocol and core contract updates, and data proxy verification integrated to the Overlay node.
  • Devnet v0.4: Tamper-resistant mechanisms were added to the Solver network, and proof verification was added to prover contracts. Data batching and proofs added to onchain batching modules, enhancing security.
  • Devnet v0.5: Economic incentives and inflation modules added and activated for broader network participation.
  • Devnet v0.6: Stabilization and optimization tests completed to allow for the final code freeze, before a v1 upgrade event.

• 2025 Achievements: 2025’s first quarter focus is to upgrade the network to a v1 feature-complete status with live oracle modules and integrated partners across multiple EVM chains. The second phase of 2025 will focus on rolling out SEDA to alt VMs beginning with Solana and Fuel.

• 2025 Achievements

  • Code Freeze and audit with Sherlock underway
  • Inflation Governance proposal passed
  • Inflation parameters live on mainnet
  • The SEDA Interoperability Verification Module framework announced

• 2025 Future Milestones

  • Tesnet Upgrade v1
  • Mainnet Upgrade v1
  • EVM Prover contract rollout
  • Onboard 3rd party solvers and connect to Provers
  • Deploy first IVM modules to mainnet & integrate partners

Has the project received any technical audits?

• Trail of Bits Audit

  • Date: March 29, 2024
  • Scope: SEDA engaged Trail of Bits to review the security of its token migration contracts and the SEDA chain’s staking and vesting modules

• Sherlock Audit

  • Date: Feb 17 - Mar 10, 2025
  • Scope: SEDA Chain Repo, SEDA Wasm VM Repo, SEDA Chain Contracts Repo, SEDA EVM Contracts Repo