SEDA’s Modular Data Layer Drives Permissionless Access To Leading Provider Amberdata
Without high-quality data providers collecting, sorting, and plugging data into Web3, the current blockchain experience would not exist. In SEDA’s latest episode of their Web3 Mini-Series, Co-Founder Peter Mitchell and Head of BD Stefan Rottler sat down with Shawn Douglass, the CEO of Amberdata, one of the largest data providers servicing Web3. Data is arguably Web3’s unsung hero, fueling the experiences we love across all sub-categories of crypto, including DeFi, GameFi, and consumer dApps. The conversation broke down how Amberdata collects and manages petabytes of data, how Amberdata and SEDA create a new standard for providers, and how SEDA addresses provider concerns.
Amberdata | Providing Critical Data Feeds Fueling Web3
Amberdata provides institutional-grade market data for digital assets. CEO Shawn Douglass initiated the discussion by giving an in-depth breakdown of Amberdata. Shawn highlighted that Amberdata is processing up to ‘240 billion dollars” daily in notional trading volume, amounting to petabytes of daily data consumed by Trad-fi and DeFi companies. By connecting to a range of centralized and decentralized trading venues with multiple data collectors to each source, Amberdata can collect and ensure high-fidelity data sets with incredibly low latency. Amberdata also maintains its position as a leading data provider by upholding robust standards via the latest API updates and monitoring systems, ensuring data quality.
SEDA’s Modular Data Layer | A New Standard For Data Providers
SEDA’s Head of BD, Stefan Rottler, followed Shawn in speaking to the data trilemma on Web3. Stefan shared that to get protocols to build, networks need off-chain data supplies, and to get off-chain data, networks often require community traction, which also encourages builders to develop on a network. Stefan showcased that SEDA is building to mitigate these challenges so that builders can access high-fidelity data from Amberdata on a 100% permissionless basis. With SEDA’s modular data layer, developers connect via one simple chain-agnostic, non-native integration to access and query any data type from providers such as Amberdata. This removes the need to bootstrap users and builders parallel to connecting data suppliers with instant data access.
Amberdata & SEDA’s Partnership Mitigates Provider Pain Points
The panel opened segment two by discussing data providers’ concerns with how on-chain protocols represent their data. Shawn stated that some of the nuances that Amberdata cares about are whether their high-quality data is mixed with low-quality data sources. Due to the rapid fluctuations within Web3, understanding where traction will remain consistent with implementing their resources can also be challenging for companies such as Amberdata.
Amberdata and SEDA’s partnership is built on the mutual desire to deliver only high-quality consumer outputs for high-integrity projects. Shawn mentioned the complexities behind integrating with new networks without being able to forecast traction. Peter echoed Shawn’s sentiments and pointed to how SEDA aggregates data on the SEDA chain, allowing developers to plug in at any point to build what they wish with permissionless direct access to the data needed.
Custom Pricing Models Support Fair Value For Data Providers
Over recent years, value has been leaked in Web3 through maximal extractable value (MEV) and rigid middleware-controlled pricing models. SEDA and Amberdata’s partnership highlights a new era for pricing models, allowing providers to set their pricing per data request on the network. This structure allows Amberdata to remain in control of its data’s value. SEDA’s new design additionally captures MEV opportunities, bundling transactions and auctioning them off across the network, redistributing that value leakage back to network participants such as data providers.
Amberdata’s High-Fidelity Data Is More Accessible With SEDA
Peter Mitchell, Co-founder of SEDA, spotlighted developer concerns surrounding the restrictions faced when trying to access new and niche feeds for their protocols. Oracles, due to data requirements, continue to be in incredibly high demand. As Oracles, in comparison to SEDA, require native deployments of each specific feed to each new network, the integration times now exceed the needs of developers. SEDA is working with the best data providers, such as Amberdata, to launch its modular data layer design, which gives developers rapid integration access to the best price feeds or any other data type supplied by Amberdata.
To learn more about Amberdata’s high-fidelity data via the SEDA Network, contact Stefan Rottler, Head of BD at SEDA, via the support service on SEDA’s webpage.
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