Sei, a blockchain platform known for its speed and EVM compatibility, is making significant strides in the decentralized finance (DeFi) sector. The platform's total value locked (TVL) has surged by nearly 80% in the past month, reaching a record $115 million on September 5.

This growth has propelled Sei into the top 40 largest chains by DeFi TVL, surpassing BSquared, Osmosis, Celo, and Fantom. On September 5, Sei recorded daily inflows of nearly $10 million in tokens deposited on its decentralized applications (dapps).

The primary driver of Sei's TVL increase is Yei Finance, a lending dapp forked from Aave V3. Yei's total liquidity hit a record $72 million, with significant contributions from wSEI, USDT, and USDC. Additionally, SiloStake, a liquid staking protocol for SEI, saw its TVL exceed $30 million, marking a 450% increase over the past month.