- What is the utility of SEDA token within the SEDA network?
The SEDA token holds three key utility functions on the network: Governance, Security, and Data Request processing. SEDA has created fork-less upgrades that enable token holders to vote on network proposals surrounding upgrades or via Validators to which they have delegated their tokens.
SEDA leverages the CosmosSDK framework to utilize battle-tested proof-of-stake mechanisms.
Currently, the SEDA Network can have 100 active validators at a given time, with the top 100 Validators automatically selected based on stake weight ( or, in simple terms, the amount of SEDA staked).
The SEDA Chain provides a checkpoint for consensus of Data Requests and is the home for more complex functionality, like the TallyVM and Data Request Programs, which provide instructions for what data to query and how to perform computation on this data. SEDA Token holders can run the Overlay Network, which is responsible for querying and posting data to the SEDA Chain.
SEDA functions as the gas token and is required to secure block space and computation from the SEDA Network. The Solver Network is responsible for forwarding a Data Request from the Destination Chain to SEDA and back to the Destination Chain.
Solvers are independent third parties that can be paid with any native token on the Destination Chain they accept. They hold a balance of SEDA Tokens that are allocated to perform the Data Request computation on the SEDA Network.
Data providers are free to set a competitive market rate for accessing their data on-chain and are rewarded by protocols that leverage their data feeds.
Learn more here: https://x.com/sedaprotocol/status/1808455923704217626
Does the SEDA Network feature inflation?
Network inflation is a CosmosSDK parameter present in the SEDA Network. The Network Genesis was deployed with the inflation parameter present but turned off. Inflation may be turned on by a Network Upgrade voted on by the community of permissionless validators and token holders. The rate of inflation on the SEDA Network is controlled by the SEDA Token holder community and validators.
Can the SEDA Network become deflationary?
In a similar manner to Ethereum’s EIP1559, the SEDA Network could become deflationary. Currently, transaction fees are paid out as rewards to the active SEDA Validator Set, but in the future, the gas required to pay for computation for Data Requests and other transactions could be burned instead. SEDA’s deflationary mechanics are triggered when a new data request is issued. Each data request is issued in a token accepted by solvers, such as a USDC. To relay the data request to the SEDA network, solvers receive the token currency from the data consumer, which equals the cost of the request plus a solver fee. Solvers then burn an equal portion of SEDA tokens to the value of the data request when relaying to the SEDA network. Therefore, the more data requests being issued, the higher the rate of deflation pressure on the SEDA token.
On which selected centralized or decentralized exchanges is SEDA available?
SEDA is currently available via a community-listed pool on decentralized and centralized exchanges. For further information see the SEDA X account.
What is the initial circulating and total supply of SEDA tokens?
- The initial circulating supply of SEDA: 1,000,000,000 ( one Billion SEDA )
- Current total supply of SEDA: 999,999,874.30 ( Nine hundred ninety-nine million, nine hundred ninety-nine thousand, eight hundred seventy-four and thirty SEDA )
To get the current Circling Supply, please refer to the SEDA Token Documentation Home for the latest information.
- What is the SEDA Token distribution?
You can see a breakdown of the SEDA Token distribution SEDA documentation here.
- Where can I delegate the SEDA token?
You can delegate your SEDA tokens to SEDA Chain Validators via the Keplr app. For more information, visit the step-by-step guide in the SEDA docs.
What is the APR for delegating SEDA tokens?
The inflation parameter for the SEDA Network was turned off at Genesis Launch. Inflation may be turned on by a Network Upgrade vote by the community of permissionless validators and token holders. The SEDA Network inflation is set by the community and can be adjusted via a Network Upgrade.
Can I delegate the SEDA token, and if so, how?
Yes, you can delegate your SEDA tokens to any SEDA Chain Validator. For step-by-step instructions, please follow the guide in our documentation here.
What token standard is SEDA?
SEDA is a Cosmos Type 118 Standard Token.
Is there a tokenomics chart and breakdown I can see?
Yes, you can see more details in our documentation here.
How does the SEDA Network generate value?
The SEDA Network is completely permissionless, open-source, and, therefore, free. SEDA’s focus is to bring as much adoption to the network as possible and maintain its free-to-use, permissionless nature. In the future, we may launch features built on top of the SEDA Network that provide tailored products and experiences for developers.
Will there be any future CEX listings?
For the latest updates and news please follow the official SEDA Twitter and turn on notifications.
How do Solvers utilize the SEDA token?
Solvers hold their own balance in SEDA tokens. To relay data requests and results to the SEDA network, Solvers accept the cost of the data request plus a solver fee in any currency accepted by the Solver and burn the same value in SEDA tokens for the required computation of the data request as part of the relaying process to the SEDA Network. The reward is unlocked once the data request is made available to the consumer.
How are Overlay Network participants incentivized?
Overlay Network participants are rewarded with a portion of the Data Request Execution cost that is split among the Solver, Overlay Network, and Data Provider.
How do Data Providers monetize their data feeds with SEDA??
Data Providers create the supply side of the data marketplace and are free to monetize their data as they see fit. Some models include a freemium model based on usage, while others opt for a cost per query model, more similar to web2. We have also seen data providers that wish to provide their data for free and explore other revenue models further down the line.
