How SEDA Builds the Oracle Infrastructure Behind Hyperliquid's 24/7 Equity Perps

Jasper, Co-Founder and CTO of SEDA, joins the Open Interest podcast to break down how SEDA's bespoke Oracle infrastructure powers Dreamcash — HyperLiquid's breakout equities perp market. The conversation covers SEDA's origin story (plasma research → DeFi products → Oracle infrastructure), and dives deep into the technical challenge of pricing 24/7 perpetual markets against assets that don't trade around the clock. Jasper explains the four-pillar Oracle methodology: session awareness, cost-of-carry futures-to-spot conversion, self-referencing EMA pricing during closed hours, and staleness fallback. The episode also explores pre-IPO market pricing, the reflexive relationship between Oracle quality and liquidity depth, SEDA's token burn mechanics, and Jasper's long-term vision of SEDA becoming a credibly neutral truth-settlement layer for autonomous AI agents.