Full thesis on SEDA
Seda is a programmable Oracle. I like
$Seda because it's a combination of all the best Crypto Narratives:
- Key component to the hottest current narratives:
By being such a key component to both HIP-3, New chains and prediction markets, Seda can always fit into any new shiny narrative.
Polymarket, Kalshi, Hyperliquid, Megaeth, Monad, stock tokenization, you name it.
- The coinbase playbook: 22M Funding round led by Coinbase Ventures:
Easy playbook: Invest in teams that have been there for several years and kept building, with a major investment from Coinbase Ventures. Then wait for Coinbase Listing. Worked with Edge, Zora, ....
- The perfect beta to HL maxis: Seda is the main HIP-3 Oracle
HIP-3 is the next big thing for hyperliquid, and Seda is positionned as a core component to it, making it the best way to speculate on HIP-3 future.
We all know how powerful that community is.
- Flywheel - The Buyback and burn: Every query is paid in Seda and burns Seda
We all love a flywheel. Each query on Seda burns 0.03 Seda. While other similar projects like Pyth receive 200M query per day, we can estimate that even with 20% of that, Seda would burn 1M2 Seda per day, which is more than $250k a day at current price, or $7.5M per month. Pretty attractive flywheel
- What's Seda with XXX marketcap?
2 projects we can easily compare
@sedaprotocol to are Pyth and ChainLink. They're both valued multiples higher in both marketcap and FDV, Chainlink FDV would put Seda at 17$.
Helps with the moon targets
Other green flags in Seda in my opinion:
- All the team members are active on X and seem to understand the crypto culture.
- All the team members seem to have a good technical understanding of their product. I really encourage you to check the videos on their Youtube to understand how Seda work. It's obvious they all understand really well what their product does.
- Still not shilled by most KOLs and twitter accounts
- So much to look forward to
What did I miss?