Sei
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Information about Sei (SEI)
Sei Network is the first Layer -1 Blockchain dedicated to the development of the Orderbook, which was born specifically for DeFi with the goal of building the best infrastructure for this nascent DeFi sector.
Set Network is built based on Cosmos SDK and uses the Limit Order Book (CLOB). Sei Network will be operated as an infrastructure for DeFi on top of Cosmos' ecosystem.
SEI is a utility and governance coin, officially operating within the Sei ecosystem, operates on the Cosmos platform, is compatible with the ERC20 standard and can be used for the following purposes:
- Network Fees: Pay for transaction fees on the Sei blockchain.
- DPoS Validator Staking: SEI holders have the option to delegate their holdings with validators or stake SEI to run their own validator to secure the network.
- Governance: SEI holders can engage in future governance of the protocol.
- Native Collateral: SEI can be used as native asset liquidity or collateral to applications built on the Sei blockchain.
- Trading Fees: SEI can be used as fees for exchanges built on Sei blockchain.
Specifications
- Name: Sei
- Symbol: SEI
- Platform: Cosmos
- Standard: ERC20
- Type: Utility, Governance
News
Investment management firm, Canary Capital, has registered a staked SEI ETF in Delaware, anticipating launching the product, which aims to offer passive income through staking rewards, contingent on SEC approval.
Despite these developments, SEI faces significant market challenges, having decreased 70.3% over the past year, further impacted by an 8.3% drop in Total Value Locked (TVL), now at 382 million USD.
All top five Crypto AI tokens have turned profits, following a 10% rise in Nvidia’s stocks since April 9, which went from 94.50 USD to 114 USD.
SEI has become one of the most searched assets in Coingecko, contributing to its price rally potential as capital inflows increased due to favorable US CPI data.
Render Network leads with a 45.6% gain, Bittensor at 30.4%, FET at 35%, and ICP with 10.3%, showcasing a robust week for Crypto AI tokens.
The Sei Foundation is exploring the acquisition of genetic testing company 23andMe following its bankruptcy filing. They aim to transition the sensitive genetic data of millions to blockchain for better ownership and privacy.
The bankruptcy raised significant privacy concerns, prompting state attorneys to urge users to delete their data. The Sei network emphasized the importance of data sovereignty and national security.
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