Flux Protocol has rebranded to SEDA Protocol
Flux Protocol announce that we have rebranded from Flux Protocol to SEDA Protocol , a new standard for data transmission across web3!
What is SEDA Protocol?
At SEDA, our mission is to build a fully trustless web3. We envision a future where no single entity holds control over the flow of data. A future where the new foundations of the internet remain permissionless, transparent, and open to all.
SEDA, a combination of the words "secure" and "data," is a trustless data layer that acts as a bridge between any blockchain and the real world. This makes it possible for all integrated parties to carry out data requests, connect to any data source, and query its data in a fully permissionless way.
What does this mean for our community and Flux Token holders?
Existing holders of the FLX utility token will have the ability to upgrade, one-to-one, to the new token standard that will power the SEDA Network. The SEDA Token will act as the main utility token and will be launched with the mainnet deployment of the protocol. With this new token standard, changes to the token economics will be applied that introduce:
- Deflationary Mechanic — protocols burn SEDA Tokens to request data
- Inflationary Mechanic — main-chain and sub-chain validators get newly minted SEDA Tokens for securing the network and bridging data to sub-chains
- Network Governance — any SEDA Token holder can participate in the governance of the SEDA Network to control parameters like inflationary rewards, the SEDA token treasury, and much more
Check out the SEDA Litepaper to learn more.
For More Detail, click this to view
