Introduction
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Introduction
Sei Network is the future DeFi hub. It is a layer-1 blockchain, a DeFi-specific order book protocol in the Cosmos ecosystem that leverages various features to improve scalability and aims to be the foundation of the future financial system. By the end of September last year, Sei had launched a $50 million package to attract DeFi projects to the blockchain.
Sei Network is an intermediary between Lisk and Layer 1 blockchains, and utilizes a new approach different from existing order book-based DEX protocols.
Provide deep liquidity by providing its own order matching engine, aiming to achieve extremely high throughput and low latency through the characteristics of optimistic block generation, intelligent block propagation and transaction parallel processing.
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SEI technical features
What differentiates the Sei Network from other networks, and the various functions provided on the blockchain layer for DeFi DApps that will sit on top of the network:
1. CosmWasm and IBC
2. Local order matching engine
3. Optimistic block generation
4. Intelligent block propagation
5. Parallel order execution
6. Prevention of false starts
7. Oracle Pricing
8. Order bundling
Thanks to the above characteristics, Sei Network can achieve high throughput and low latency. And the continued availability of on-chain Real World Assets (RWA) creates a compelling narrative for the next DeFi bull run.
X’s industry-specific approach allows tokenized protocols to have easier access to liquidity than application-specific chains, as these assets can access multiple DEXs. The parallelization of X allows the creation of complex financial products using tokenized RWA.
Due to elements of DEFI optimization, Sei allows institutional funds to be more capital efficient than high-performance L1.
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SEI ecology
There are currently more than 60 teams building projects at the SEI. It is worth mentioning that SushiSwap is launching a decentralized perpetual futures exchange on Sei Network. They purchased VortexProtocol and deployed it directly on SeiNetwork.
Since Sei Network is currently in the testnet stage, less information about the ecosystem has been released, but according to the official website, more than 70 dApps are preparing to be released, and the currently released DApps are shown above. Let's take a quick look at each:
Vortex — The Vortex Protocol is an orderbook-based decentralized derivatives exchange on the Sei Network that can leverage the deep liquidity of the network's own orderbook. It offers up to 10x leveraged trading, and since the network can leverage IBC, it plans to support perpetual futures trading on over 35 different assets.
Pharaoh Protocol - The Pharaoh Protocol is a decentralized integrated exchange on the Sei Network. A synthetic token is a token designed to track the price of a specific commodity. Details of how it will work have not been disclosed.
Axelar Network - Axelar Network is an application chain that acts as a bridge in the Cosmos ecosystem. Normally, application chains in the Cosmos ecosystem can interact through IBC, but the disadvantage is that it is difficult to interact with chains outside of Cosmos (Ethereum, Solana, etc.). The Axelar network will greatly aid the cross-chain utilization of the Sei network, as validators support token bridging and messaging with other networks through transaction verification.
KYVE — KYVE is a decentralized data protocol that will help store, access, query, count, and sort the vast amounts of data generated by the Sei Network. Data collected by KYVE is stored in Arweave, a permanent storage protocol.
Nitro — Nitro is a rollup using the Optimistic Rollup method, which uses a Solana virtual machine called Sealevel. The Sei network serves as the base layer upon which security relies.
team background
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team background
While working at Robinhood, Jog realized that the biggest problem was poor communication about issues within the company. In the wake of the GameStop stock incident, Jog believes that decentralization and transparency play a vital role in cryptocurrencies.
So there is sei, and Sei Network can get more transactions through intelligent block propagation. As advertised on the main website, it aims to be the base layer that makes the decentralized Nasdaq exchange a reality.
Sei Airdrop
1% of the Sei token supply is allocated to incentivize the testnet and reward early members of the Sei community for using the chain. The team stated that it will value users who have a strong desire to advance, test, and develop the Sei ecosystem. Therefore, there will be airdrops for participating in the testnet, and there will be many ways to get rewards. If the testnet goes well, the mainnet is expected to be launched in the second quarter of this year.
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：http://app.seinetwork.io/faucet
Airdrop Tutorial
The first step is to collect the faucet
- Faucet labels
- Click Connect Wallet to connect to Keplr wallet
- Click Autofill or manually enter our address $SEI
- Click Next
- We fill in the captcha
http://app.seinetwork.io/game
- click request sei
second game
- Stake game tab
- Click to join the team
- We receive information about our team
- We delegate the token $SEI to the specified validator
- Click on validator
- Click delegation
- we give the quantity
http://app.seinetwork.io/stake
- Click delegation
The third step check
- Pledge tab
For more details, please visit the official website of the project
financing
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financing
In August, Sei raised $5 million from investors including Multicoin Capital, Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, Flow Traders, and others. The new funds will be used to support the network as it approaches mainnet launch and further accelerate the growth of the 20+ dApps already built in the Sei ecosystem.
Sei has just eight months since its inception and has a total of $70 million in ecosystem funding
The team is currently raising a new round of financing, which is expected to be announced soon, so stay tuned.
epilogue
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epilogue
