RWAs, Modular Chain Abstraction, Updated Data Tech, And Composable dApps, the frontier of a new web3
SEDA’s Web3 mini podcast series saw the biggest giga-brains in Web3 come together to discuss leading narratives set to launch a Web3 uptake revolution. Spanning seven episodes, SEDA hosted top-tier projects Subsquid, Plume Network, Polytrade, Celestia, Flow, Amberdata, UMA, and NEAR with special guests Robbie & Andy from The Rollup Co. The most significant takeaway from the series was that Web3 adoption combines multiple technical advancements working in parallel.
At the foundations lie data projects (Subsquid & Amberdata) that are used by highly flexible and composable modular designs (Celestia & SEDA) that can be wrapped in chain abstracted tech (NEAR) to provide the UI/UX needed for a new wave of composable dApps (Flow). This allows for familiar experiences, whether gaming, RWAs (Plume & Polytrade), or DeFi. To ensure the most equitable value exchange within Web3’s framework, the MEV/OEV capture mechanics democratize value redistribution (SEDA & UMA).
Amberdata & Subsquid | Without Data, Web3 Stands Still
Episodes one and five saw leading data project Subsquid and Web3’s biggest data provider, Amberdata, discuss data as the unsung hero. Subsquid explored data history from Bitcoin’s origins to their hyper-efficient modular and multi.-chain, data lake indexing solutions. Supporting the need for efficient data storage, computation, and transport tech, Amberdata highlighted how they are supplying petabytes of high-fidelity and low-latency data to Web3 daily. Following the discussion, it was clear that without novel data infrastructure like Subsquids indexers, SEDA’s data layer, and Amberdata’s feeds, Web3 innovation remains stifled.
Key Takeaway: Hyper-efficient data solutions are the lifeblood of Web3.
Plume & Polytrade | RWA Accessibility To Onboard Millions
Polytrade and Plume Network are building thriving ecosystems around RWA classes by utilizing modular data layers like SEDA. Episode two saw CEOs from Plume and Polytrade share their unanimous vision for unprecedented Web3 growth via RWAs. Key takeaways included RWAs as a point of access to US dollar-backed asset classes for emerging nations to offset lost value from weak national currencies. Additionally, Plume’s CEO Chris Yin expressed enterprise sentiment for the relatability and accessibility of big businesses trading RWAs on-chain as a critical factor in enterprise expansion into Web3.
Key Takeaway: Modular RWAs fuel Web3 mass adoption through economic stability.
Celestia & The RollUp | Modularity & Permissionless Optionality
Mary Liu, Head of BD at Celestia, joined Andy and Robbie from The Rollup Co for episode four to unpack 2024’s hottest narrative: modularity. The conversation highlighted Celestia’s breakdown of the monolithic tech stack, offering developers a new level of flexibility and a new phrase coined in conjunction by SEDA Co-Founder Jasper and Andy: Permissionless Optionality. Modular designs, such as SEDA’s modular data layer and Celestia’s modular DA layer, are exploding across Web3. As the monolithic era ends, modular stacks will usher in the clear benefits of composability, flexibility, and enhanced user experience.
Key Takeaway: Modularity’s blockchain unbundling fuels the age of hyper-specialization.
NEAR & Flow | Chain Abstraction And Composable dApps
Episodes three and seven saw two of the most significant projects in Web3, NEAR and Flow, take the mic to discuss chain abstraction (NEAR) and composable dApps for mass adoption (Flow), two concepts inexplicitly linked. The Flow blockchain boasts some of the biggest partnerships in Web3 alongside the NFL, Disney, Ticketmaster, and The NBA to build a new wave of composable dApps surrounding the hottest IP globally. During these conversations, NEAR Co-Founder Illia Polosuhkin shared that without chain & account abstraction, Web3 UI/UX would block the adoption of the best dApps. In the words of Illia, “Chain abstraction is Blockchain’s final chapter,” representing the solution to modularity fragmentation, siloed networks, and poor application experiences.
Key Takeaway: Abstracting away the blockchain is key to usable and intuitive applications.
SEDA & UMA | The Capture & Redistribution Of OEV
Episode six brought to the spotlight a concept that is severely overlooked in Web3, Oracle Extactable Value (OEV). SEDA as an OEV-aware data layer and UMA protocol’s Oval, a generalized OEV capture tool, is set to capture OEV, which resulted in almost 100 million USD in lost value last month alone. Campbell Easton from UMA protocol broke down the OEV supply chain, highlighting the complex software leveraged by searchers to extract value via various techniques in microseconds. Jasper from SEDA and Campbell spoke about the different methods both projects used to capture the value and explored options for redistribution to return value to network participants.
Key Takeaway: OEV is a severe issue; its capture and redistribution are necessary to restore fair value exchange on the blockchain.
