The Sei Ecosystem Overview

Sei is a new and prospective project that is rapidly beginning to gain popularity in DeFi. There are currently 100+ teams from Solana, Polkadot, Terra, and NEAR building on top of Sei going into mainnet. Everstake has joined Sei blockchain as an early validator, supporting and securing the network. 

This article covers the basics of the Sei Network and its ecosystem, checks the explorer for essential parameters, and discusses the team behind the project and community program. 
Read more about What Sei is.

What is Sei?

Sei is the infrastructure for the future financial system to support capital markets, starting with exchanges. Sei is the fastest Cosmos chain to finality because it was the first Layer 1 (L1) designed specifically for trading, optimizing each stack layer to offer exchanges an unfair edge. Take a look at the comparison table:

Sei is ahead of Bitcoin, Ethereum, and Solana by Transaction Throughput and Transaction Finality. Also, Sei has front-running prevention (FBA).

How Does Sei Work?

Most L1s are either general-purpose or app-specific, but Sei unlocks a new design space in between as a sector-specific L1. Sei has carefully chosen a particular set of tradeoffs that make Layer 1 the ideal environment to scale with the demands of decentralized exchanges.

Over other blockchains, the Sei Network has a lot of advantages, such as: 

• Fast and high throughput;

• Liquidity;

• Massively scalable;

• An emphasis on the order book;

• Highly secure;

• A complete trading solution.

The basic infrastructure of the Sei Network, centralized order books (CLOB), is run by several DEXs with limited order books. This implies a move in favor of developed DeFi ecosystems. The centralized order books (CLOB) will be matched when each block closes by native orders for all CLOB-related orders. As a result, Sei Network can benefit from a wide range of applications thanks to this novel technique.

Sei supports CosmWasm smart contracts, and other IBC networks can also be included. The Cosmos SDK can be connected to CosmWasm because it is written as a module. This implies that anyone developing a blockchain using the Cosmos SDK can easily add support for CosmWasm smart contracts to their chain without altering the current logic.

Sei Team and Investors

Jeffrey Feng and Jayendra Jog are founders of the Sei Network. The core team comprises professional and qualified members with work experience from top companies.

In the summer of 2022, Sei raised $5M, led by Multicoin Capital, to build the first Layer-1 blockchain optimized for DeFi. The Sei project is trusted by world-class operators, investors, and institutions, like Coinbase, Delphi Digital, HRT, and others:

Recently, MEXC, the world’s leading crypto asset trading platform, announced that it is launching a $20 million dedicated fund to support the development of key projects on Sei Network. The new funds will support the network as it gets closer to the mainnet rollout and speed up the expansion.

Sei Ecosystem

The Sei Network is an L1 blockchain with an integrated order book that makes it simple for smart contracts to access pooled liquidity. Ethereum and Cosmos applications can run on Sei Network because it is compatible with EVM and Cosmwasm. The Sei Network is the ecosystem’s center, providing partners with unique features and user interfaces with greater stability and lightning-fast transaction rates. A DeFi application that uses Sei’s liquidity and the advantages of the entire ecosystem may be developed by anybody. Users, traders, and developers may join Sei as ecosystem partners and have access to pooled liquidity and decentralized financial frameworks. Despite being in testnet, Sei has already enormously expanded its ecosystem. Currently, over 100 dApps are already launching on Sei:

• Asset Management: Apollo DAO, MC2 Fi;

• Bridging: Axelar Network, Celer, Gravity Bridge, Multichain;

• CEX: Lit, MEXC Global;

• Community: Trust;

• DEX: Copycat Finance, Crescent, Cypher Protocol, Future Proof, Kryptonite, Leonicorn, Pharaon, Satori, Senate DAO, Synthr, Vortex;

• Explorer: Commonwealth, Mintscan;

• Gaming: Entice Coin, Gelotto;

• Incubator: AlphaVentureDAO, Graviton;

• Infrastructure: Andromeda, Babylon, Convergence, Kado, Kargo, KYVE, Mava, Nitro, Paddle, Transak, White Whale;

• Launchpad: Eclipse Pad;

• MEV: Skip;

• Media: TK Ventures;

• NFTs: Entice Coin;

• Onramp: Transak, Utorg;

• Oracle: Band Protocol;

• Stablecoin: UXD;

• Structured Products: DeFund;

• Wallet: Coin98, Cosmostation, Falcon Wallet, Frontier, Keplr, Leap Wallet, Terra Station.

Let’s highlight some of them.

Axelar

Axelar Network is a permissionless overlay network. Its infrastructure enables dApp users to interact with any asset or application, on any chain, with one click. The former benefit from the seamless integration process, while the latter uses one simple protocol and API to access global liquidity and communicate with the entire ecosystem.

Keplr

Keplr is a wallet for inter-blockchain ecosystems. The wallet is designed for compatibility with Cosmos’s IBC. It allows users to move digital assets back and forth across numerous chains. Keplr has an extension, web app, and mobile app.

Vortex

Vortex is a decentralized derivates exchange for IBC chains built on Sei Network. Made with IBC support, Vortex can offer more than 35 perpetual markets across the Cosmos ecosystem with interconnected composability and deep liquidity. 

MEXC Global

MEXC Global is one of the world’s leading digital asset exchanges. The exchange features high-performance mega-transaction matching technology, which enables quick and effective trading. This technology can rapidly match orders and handle high quantities of trades, making it one of the market’s swiftest and most trustworthy platforms.

KYVE

KYVE is a decentralized archive network that suggests using standards and autonomous storage to boost the scalability of various data streams. With KYVE, developers, node runners, analysts, and others may source or build with data without worrying about time-consuming queries or depending on centralized, unvalidated solutions.

Pharaoh protocol

Pharaon is a modern way to trade ancient assets. Pharaoh traders will have unmatched access to resources that aren’t yet available in DeFi. Pharaoh will have unparalleled composability throughout the larger Cosmos ecosystem because it is built on the Cosmos SDK. This will grant access to various margining and investing opportunities in synthetic spots, options, perpetual trading, and other markets. For the DeFi community, Pharaoh will bring about a brand-new and thrilling trading era.

White whale

White whale solves the fractured liquidity and unstable pricing problem by connecting liquidity across the Cosmos ecosystem. The primary mission is to empower retail to “Be the Whale.” Flash Loans and open-source bots allow users to overcome the capital and knowledge barriers to perform liquidations and arbitrage.

Nitro

Nitro is Solana’s first Layer 2 scaling solution, serving as the gateway between Solana and Cosmos. For SVM rollups, Nitro is developing a modular scalability engine. This opens up fresh options for chain design, including Nitro’s initial rollup of SVM on Cosmos.

Leap Wallet

Leap is a crypto wallet for Cosmos blockchains that offers access to dApps, staking, DeFi, NFTs, and more on one platform. Leap will make it simple and secure to store, send, stake, and transfer different tokens. It’s a non-custodial wallet (your private keys are safely saved on your device, and only you can access them). 

Multichain

Multichain is a cross-chain router protocol. ​​MPC processes Multichain cross-chain bridging and smart contract methods on other chains. Multichain Router allows users to swap between any two chains freely. It reduces fees and makes it easier to move between chains.

As we can see, Sei Network is actively growing and expanding its ecosystem. Many popular and widespread projects are interested in collaborating with this promising protocol. And we can assume that this is only the beginning of the journey since now the network is only in the testnet, but the results are impressive.

Everstake’s role in Sei

Recently, we joined their testnet as a validator, and now we’re looking forward to participating in the mainnet scheduled for launch in Q2 2023. Everstake is actively involved in various crypto projects and contributing to the ecosystems we support. Also, we never experienced issues with performance, uptime, or slashing. You may rely on our professional team’s infrastructure without worrying about your funds’ safety. You can boost your yields and control your tokens by delegating with Everstake. In the Sei explorer, you can check our stats, parameters, and performance:

Sei Explorer

Brochain Explorer enables easy network statistics search and blockchain health monitoring. Utilize the dashboard to explore data about blocks, transactions, validators, and uptime.

Also, this explorer has a useful tab “Parameters” on the left side menu. It includes governance, slashing, staking, distribution, and various parameters.

Sei Governance

Anyone can submit a governance proposal, which will initially be considered during the deposit period and then be moved to the voting period once the required minimum deposit has been reached. During the deposit period, anyone may contribute to a proposal.

Users can participate in Sei governance by voting on proposals. Basic requirements:

• Acquire Sei tokens;

• Delegate your Sei tokens to a Sei validator.

The voting functionality for Sei governance is inherited from the standard Cosmos gov module. Here are some useful transaction and query commands and links to further in-depth documentation.

Sei Community

Community is one of the essential things in any network and ecosystem. People create a unique mood and spirit inside the project, supporting the development and network expansion. This project cares about the community and thus implemented a program that gives everyone many opportunities, including full-time employment in the Sei team. 

We’re talking about the Ambassador Program – The Atlantis. The program aims to create the largest community centered on the quickest DeFi Layer 1 blockchain. With the help of this program, you may demonstrate your most excellent skills in producing a variety of content, from articles to various art forms. You don’t have to perform any improbable feats to join the team. To get started, log in to Sei Discord, get verified, and get the “Sei-lors” role near your name on the server. That’s all. You’re already onboard! Then you can move up the career ladder, check out Ambassador ranks:

1. Seilor: anyone joining and participating in Discord and Telegram.

2. Crew member: Seilors who have reached level 7 in Discord.

3. Officer: active Crew members who are creating content on social media.

4. Captain: active Officers that impact the community via educational content.

5. Major: best-performing Captains that help coordinate and scale the Ambassador Program.

6. Colonel: best-perfoming Majors who are looking to grow their local communities.

7. Admiral: part of the Sei core team.

Benefits & Opportunities:

1. Seilor: be part of the best community.

2. Crew member: access to educational content, follow the Sei progress.

3. Officer: access to exclusive core team resources, first access to the alpha.

4. Captain: bounty board, credited exposure, research calls with the Sei team.

5. Major: callout from Sei Twitter, grants for external training, grants to represent Sei at conferences, the pipeline into full-time.

6. Colonel: be a local mentor of the community, help Sei to reach new horizons and achieve new milestones.

7. Admiral: full-time work in Sei Ecosystem.

Now, the scale of the community is robust. There’re 240k+ Seilors on Discord, 170k+ followers on Twitter, and 10k+ users on Telegram. Sei Network built a fundamental base for Web3 enthusiasts, builders, and developers.

How to earn Sei

Now that Sei is live on the testnet, the team is actively preparing for the mainnet launch. Staking SEI will be accessible with Everstake. We’re in the stage of preparing step-by-step guides for the fast and easy staking process. You can visit our Sei page for more information about this network, and stay tuned for future announcements.

Final thoughts

Sei is an excellent blockchain with an incredible ecosystem that has crushing achievements. The technology stack, huge ecosystem, high-experienced team, and well-known investors are proof of this. By adding numerous new capabilities, Sei Network may significantly increase scalability and become a DeFi hub inside the Cosmos ecosystem.

Everstake is happy to work with Sei, supporting its innovative infrastructure and making our contribution to the project. We are the responsible validator trusted by 625k+ users across 70+ blockchain networks. Our professional team is working for your secure and comfortable staking. You can always contact us on Twitter and Discord and be aware of the latest news. If you have any questions feel free to contact our Sei BM.