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SEDA Token
About SEDA Token
SEDA Token (SEDA) is a versatile utility token for the SEDA Network, designed for data interoperability across blockchains. It is used for governance, staking, and issuing data requests within the network. The token, initially known as Flux Token (FLX), was developed by co-founders Jasper De Gooijer and Peter Mitchell, with Édouard de Weck as CFO.
SEDA Token (SEDA) is a utility token that powers the SEDA Network, a modular data transport and querying system designed for interoperability across multiple blockchain networks. The SEDA Network enables permissionless data flows from any source to any destination network, addressing core centralisation and failure risks seen in current oracle systems. It provides a secure, scalable, and efficient infrastructure for data querying and computation, supporting complex off-chain computations and integration with smart contracts.
SEDA Token serves several purposes within the SEDA Network:
- Governance: Token holders can post and vote on proposals for network changes, including consensus updates and network parameter adjustments.
- Participation: SEDA tokens are used for staking by validators, solvers, and data request executors, securing the network and ensuring honest participation through economic incentives.
- Network Utilisation: Tokens are required to issue data requests, with the complexity of the request determining the number of tokens burned. Solvers who bridge data request outcomes back to destination networks can claim locked value.