What is SEI Token? New Layer1 Blockchain to Debut | BitPinas

• Binance is set to list SEI Network’s native token on August 15, with an estimated initial value of 26 cents and potential market capitalization surpassing $500 million.
• The Sei (SEI) Launchpool includes a total token supply of 10 billion, with 300 million (3%) allocated for rewards
• SEI Network is a specialized Layer 1 blockchain for DeFi, focusing on orderbook development and rapid transactions. It employs features like MEV protection and parallel processing, aiming to facilitate high-performance DeFi applications.

Global cryptocurrency exchange Binance is scheduled to list the native token of the anticipated layer 1 blockchain, SEI Network. The listing is set to take place on August 15, and early indications suggest that SEI’s value could start at 26 cents immediately following its debut.

SEI Token on Binance

The Sei (SEI) Launchpool will offer 10,000,000,000 total tokens, with 300,000,000 SEI (3%) allocated for token rewards. The initial circulating supply is 1,800,000,000 SEI (18%). 

Moreover, staking requires know-your-customer (KYC), and users have specific hourly hard caps for participation in various pools: 33,333.33 SEI in BNB pool, 6,250 SEI in TUSD pool, and 2,083.33 SEI in FDUSD pool.

As of writing, the exchange has outlined restrictions on SEI farming for users in certain countries or regions, including 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), as well as Zimbabwe.

According to data tracked by Coingecko, SEI is currently unavailable for trading on any cryptocurrency exchange.

Price Prediction

According to data from new crypto futures platform Aevo, the token is likely to open at 26 cents–which could make the token’s market capitalization exceed $500 million.

Should the prediction materialize, SEI will be one of the most successful launches in 2023 and will secure its place among the top 100 cryptocurrencies.

Consequently, Aevo’s mechanism will play a crucial role in referencing the index price and ensuring SEI’s prices remain aligned with the spot market value once the token goes live on Binance.

Aevo’s pre-listing futures market allows traders to speculate on cryptocurrency prices. It is a tool for price discovery and trading, similar to IOU futures.

What is the SEI Network?

SEI Network is the first sector-specific Layer 1 blockchain designed exclusively for DeFi, focusing on orderbook development and rapid transaction speeds. It’s based on Cosmos SDK and employs the Limit OrderBook (CLOB), serving as decentralized finance infrastructure within the Cosmos ecosystem. 

Sei’s special features include MEV and anti-front-running measures, as well as parallel transaction processing to enhance speed and prevent front-running. 

The network aims to enable ultra-high performance DeFi applications, offering deep liquidity and price-time-priority matching through its on-chain CLOB and matching engine. 

Sei Network currently has partners particularly in the DEX domain including multi-chain-supported non-fungible token (NFT) marketplace Dagora; decentralized exchange SushiSwap; Oracle solution Pyth; TVL blockchain bridge Axelar; Sei-based perpetual contract platform Vortex; Synthetic assets DeFi protocol Pharaoh Protocol; blockchain system Kyve; and Solana-based stablecoin project UXD.

This article is published on BitPinas: What is SEI Token? New Layer1 Blockchain to Debut 

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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