Fellow Binancians,
Binance is excited to announce the 36th project on Binance Launchpool - Sei (SEI), a layer 1 blockchain optimized for the exchange of digital assets. The webpage is estimated to be available in 5 hours, before the Launchpool starts.
Users will be able to stake their BNB, TUSD and FDUSD into separate pools to farm SEI tokens over 30 days, with farming starting from 2023-08-02 00:00 (UTC).
Binance will then list SEI at 2023-08-15 12:00 (UTC) and open trading with SEI/BTC, SEI/USDT and SEI/BNB trading pairs. The Seed Tag will be applied to SEI.
Sei Launchpool Details:
Token Name: Sei (SEI)
Total Token Supply: 10,000,000,000 SEI
Launchpool Token Rewards: 300,000,000 SEI (3% of total token supply)
Initial Circulating Supply: 1,800,000,000 SEI (18% of the total token supply)
Smart Contract Details: Sei Token (SEI)
Staking Terms: KYC required
Hourly Hard Cap per User:
33,333.33 SEI in BNB pool
6,250 SEI in TUSD pool
2,083.33 SEI in FDUSD pool
Supported Pools:
Stake BNB (webpage will be available in around 5 hours): 240,000,000 SEI in rewards (80%)
Stake TUSD (webpage will be available in around 5 hours): 45,000,000 SEI in rewards (15%)
Stake FDUSD (webpage will be available in around 5 hours): 15,000,000 SEI in rewards (5%)
Farming Period: 2023-08-02 00:00 (UTC) to 2023-08-31 23:59 (UTC).
SEI Farming Distribution
Read about Sei (SEI) in our research report here, which will be available within 30 minutes of publishing this announcement.
Project Links
Website: https://www.sei.io/
Whitepaper: https://github.com/sei-protocol/sei-chain/blob/master/whitepaper/Sei_Whitepaper.pdf
Twitter: https://twitter.com/SeiNetwork
Discord: https://discord.gg/sei
Blog: https://blog.sei.io/
Please note:
Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour.
Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.
Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.
Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.
Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.
Tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.
Binance BNB Vault will support the SEI Launchpool. Users who have staked their BNB in BNB Vault will automatically participate in the SEI Launchpool, and receive SEI rewards daily in their Spot Wallets.
If there are more than one Launchpool projects running concurrently, users' BNB assets in BNB Vault will be split and allocated into each project equally unless otherwise specified.
BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Participation in Launchpool is subject to eligibility based on the user's country or region of residence.
Please note that the list of excluded countries provided below is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations.
Users need to complete their account verification and also be from an eligible jurisdiction to participate in farming SEI.
Currently, users residing in the following countries or regions will not be able to participate in farming SEI: Belarus, Cuba, Crimea Region, Democratic Republic of Congo, Iran, New Zealand, Netherlands, North Korea, South Sudan, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, and the U.S. Virgin Islands), Zimbabwe.
This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.
Thanks for your support!
Binance Team
2023-08-01
Note: This announcement was last updated on 2023-08-02 to provide details on user participation in Launchpool via BNB Vault. It was previously updated on 2023-08-01.
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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