- Sei, a layer-1 blockchain tailored for trading applications, is preparing for its mainnet launch and subsequent trading initiation.
- Binance, Upbit, and Kucoin have announced their intention to start SEI coin trading at 8 am ET, coinciding with the mainnet's activation.
- Bitfinex plans to open SEI deposits at 10:00 am UTC and commence trading at 12:00 pm UTC.
- Sei, built on Cosmos SDK, employs proof-of-stake and sub-second blocks for optimized trading functionality.
- The blockchain targets a specific niche in decentralized trading and competes with other Cosmos chains like Osmosis, Injective, and Kujira.
- Upon mainnet launch, Binance reports 1.8 billion Sei coins in circulation, approximately 18% of the 10 billion token maximum supply.
- An additional 300 million Sei tokens are allocated to Binance's launchpad pool for staking events involving BNB, TUSD, or FDUSD until the end of August.
- Sei's focus on trading, underscored by its Twin-Turbo Consensus mechanism, distinguishes it from general-purpose blockchains.
- The blockchain aims to serve trading apps, NFT marketplaces, and decentralized exchanges.
- Sei raised $30 million in funding earlier this year and is poised for a competitive entry into the trading-focused blockchain market.
