Sei Blockchain Goes Live: What it Means and Ways to Use

By  William McKinnon August 15, 2023

Image for Sei Blockchain Goes Live: What it Means and Ways to Use


  • Sei Network, a new DeFi-optimized layer 1 network, has launched its mainnet and token, generating significant buzz with over 7.5 million registered wallets on the testnet
  • Noteworthy features of Sei include rapid finality times, anti-MEV front running protection, and a native Central Limit Order Book (CLOB) infrastructure
  • The Sei token is set to launch on August 15th, 2023, with a primary launch on Binance's launchpool
  • It will also be available for trading on other top exchanges like Bybit, Kucoin and Kraken
  • The ecosystem around Sei is focused on DeFi applications, with 48% of the total token supply allocated to the Ecosystem Reserve, supporting dapps, airdrops, and farming. Notable protocols like SushiSwap (Vortex), Axelar, UXD and Leap Wallet are expected to play crucial roles in the Sei ecosystem

The buzz generated by the launch of Sei Network's mainnet and token has been palpable with over 7.5 million wallets registered on the testnet already. While the fundamental features of the new DeFi-optimized Layer 1 network including blazing fast finality times, built in anti-mev front running protection, and native Central Limit Order Book (CLOB) infrastructure are eye-catching users may be left wondering how exactly they can use the Sei Network themselves, and more importantly how they can make money on it.

Launch and Ecosystem

The long anticipated Sei token launch is slated to happen August 15th, 2023 with the primary launch happening on Binance's launchpool. The launchpool has already attracted a whopping 7.25 million BNB to be staked for rewards in Sei tokens indicating a high degree of interest from retail investors. While Sei is a Binance launchpool token, it will also be live for trading on many of the other top exchanges: Bybit, Kucoin, Kraken and more will all have Sei trading available right after the token goes live.

With the core functionality of Sei largely geared towards DeFi applications, it should not come as a surprise that the Sei Network will be launching with a host of dapps on the chain to kickstart the trading frenzy.

Source: Twitter

Of the total token supply, 48% has been allocated to the Ecosystem Reserve, which can be used to fund grants and incentivize usage of dapps on the chain. This means it is very likely there will be opportunities to earn airdrops and farm tokens, so it's a good idea to get acquainted with the various protocols on the chain before you start. Below are some of the protocols to keep an eye out for:

SushiSwap and Sei

Interestingly, leading Ethereum DEX Sushiswap has been listed as one DEX that will be available on launch. Rather than build out the platform entirely on their own, SushiSwap made an acquisition of Vortex protocol in February which was publicly stated as an official partnership with the Sei Network.

Sushi has been in the Crypto Twitter (CT) headlines for the launch of its v3 earlier this year which enables concentrated liquidity provision similar to Uniswap v3. The Sei launch will actually be a perpetuals exchange aiming to utilize the native CLOB infrastructure as a backbone for the protocol. This new launch could generate a lot of trading volume as Sushi is one of the only existing popular DEX listed on Sei's ecosystem page, as well as the perpetuals listing being a novel concept for Sushiswap.

Axelar and UXD

Cross-chain interoperability protocol Axelar has partnered with Sei to bring its technology to the new network, creating a trusted pathway from existing chains like Ethereum and Avalanche to Sei. Dapps on Sei will be able to integrate Axelar's protocol into their own to enable cross-chain messaging, including cross-chain swaps. Built on the Cosmos SDK much like Sei, Axelar boasts over $2 billion in transaction volume and its impact on chain liquidity in combination with Sei's native CLOB and market making partners should not be overlooked.

Algorithmic stablecoin protocol UXD will also be deploying on Sei, having already amassed $14m TVL on Solana. As seen with the unofficial launch of Coinbase's Base network, having a stablecoin available for trading on launch is extremely important for DeFi.

Going hand-in-hand with Sei's DeFi focus, UXD's algorithmic stablecoin which maintains its peg via a delta-neutral derivatives strategy will enable users and protocols alike to utilize a native stablecoin for trading pairs. In theory this will add to the trading liquidity in a significant way and make for a more efficient market on launch as opposed to Base in which users found themselves largely unable to swap tokens back into stablecoins.

Leap Wallet and Tatami Games

So you're excited to get trading on Sei, but you don't have a compatible non-custodial wallet yet? Look no further than Leap Wallet, a wallet service backed by CoinFund and Pantera Capital. Leap features an easy to use UI, cheap in-wallet swaps, and supports Ledger technology for anyone with a Ledger hardwallet. As Leap is a Cosmos wallet and Sei is built with the Cosmos SDK, all you have to do is add the Leap extension to your browser, add the Sei network and you're good to go.

Source: Double Jump

The Sei Network has partnered with game publisher Tatami Games to leverage Sei's gaming-optimized blockchain technology in order to create an all-in-one gaming hub. The first launch, Sei's flagship game Double Jump , will be live shortly after the Sei token goes live for trading. Be sure to check out their socials and try the game out for yourself!

Staking and Airdrops

Source: Sei Network Staking Portal

Sei tokens can be staked to earn a yield. These can be delegated to an existing validator to participate in the network's proof-of-stake consensus mechanism. This means earning a yield while also contributing to the security of the chain. The estimated APY for Sei is 13.07%, however that number is dynamic and dependent on a variety of factors.

While the incentivized testnet phase may be coming to an end, users can take advantage of the budding ecosystem and Ecosystem Fund by actively using dapps on Sei to qualify for any potential airdrops . Airdrops and farming incentives are powerful tools for blockchains to retain users and liquidity, and thus Sei is very much expected to follow this gameplan. To summarize, the Sei launch has been highly anticipated for some time and all eyes will be on it as the token finally goes live.