About Sei (SEI)
Sei is a layer-1 blockchain focussed on cryptocurrency trading and is designed to be fast and secure, according to their website.
Instead of offering a general-purpose network for developers to build upon, like many other layer-1 blockchains, Sei zeroes in on creating a crypto trading-oriented chain. The blockchain aims to enhance the infrastructure for both exchanges and decentralized finance (DeFi) in the long run.
Sei's team consists of experts who previously worked at renowned companies such as Goldman Sachs, Databricks, Robinhood, Google, and Nvidia.
Sei blockchain is co-founded by Jayendra Jog, the CEO of Sei Labs. The company is centered on building a new blockchain platform for trading and DeFi applications.Ā
Over 120 projects, including Path, Sushi, and Nitro, are currently being developed on the Sei blockchain ecosystem.
Seiās Mainnet Launch
The layer 1 blockchainĀ announced the launch of its mainnet on 15th August, 2023. With the mainnet launch, users can now bridge assets to Sei, or stake their $SEI token.Ā The blockchain also announced the details of its airdrop and rewards for the incentivized testnet. Both rewards can be claim by users after the launch of its public mainnet.
The SEI token, the native token of the SEI blockchain, serves various functions such as paying gas fees, staking for security, and participating in the governance processes. Primarily, it is utilized for paying network fees, a fundamental aspect for transactions on the Sei blockchain. SEI holders are presented with options: they can either delegate their tokens to validators or employ their SEI holdings to operate their own validator node, thereby contributing to the network's security and stability.
SEI token holders can participate in the governance processes of the protocol, influencing its future direction. Additionally, SEI tokens are accepted as trading fees on exchanges that are built upon the Sei blockchain infrastructure, further cementing its role as a versatile and integral component of the Sei ecosystem.
The total token supply is 10,000,000,000 SEI and the initial circulating supply is 2,300,000,000 tokens. Sei is represented by the ticker $SEI and its live price is updated on Binance in real-time.Ā