Sei Network announced the establishment of the Sei Foundation on March 29th, 2023. This non-profit organization is designed to support the development of the Sei ecosystem, fund protocol development, and advocate for Sei among a larger community of organizations and individuals.
The Sei Foundation will manage token grants, airdrops, requests for product, initiatives, and delegation programs, and will work closely with the Sei Labs team to ensure the initial, open-source software is developed and built upon by a wide variety of teams on the permissionless Sei network.
Sei Network’s mainnet launch is expected in a few months, and the establishment of the Sei Foundation is seen as an important step towards creating a vibrant, innovative, and inclusive ecosystem. With the support of the Sei Foundation and Sei Labs team, the Sei community is expected to achieve great things in the coming months.
According to a previous announcement in October 2022, Sei Network has committed to setting aside 1% of the total token supply for airdrops to users who participate in the testnet and experience the platform early. However, the community has criticized this as too little given the significant number of users currently on the testnet.
The establishment of the Sei Foundation marks a significant milestone for Sei Network as it prepares for its mainnet launch. It will provide a platform for Sei to continue to grow and thrive in the blockchain ecosystem, and further cement Sei’s position as a promising blockchain layer-1 project with great potential.
#SeiNetwork #Sei #Seifoundation #crypto2023 #azcoinnews
This article was republished from azcoinnews.com