#BinanceAnnouncements ⚡️ NEW : #Binance has announced the listing of Cow Protocol ($COW) and Cetus Protocol ($CETUS) with spot trading pairs opening at 12:00 (UTC).
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#educationslonly $SEI **Comprehensive Review of the Sei Project from A to Z**
To put it simply, Sei is a blockchain designed for trading and buying/selling assets. It's like a decentralized exchange on a blockchain where everyone can trade, but the difference is that everything is transparent and secure.
In Sei, anyone wishing to buy or sell something places their order on the blockchain. Smart contracts automatically match these orders and finalize the transactions. Because these orders are visible to everyone, no one can misuse others' information.
**What kind of misuse can occur?** In centralized exchanges, user orders might not be displayed publicly, allowing the exchange to exploit this information to buy assets at a lower price and sell them at a higher one.
However, in Sei, which operates on a decentralized blockchain, all orders are transparent and visible, preventing any behind-the-scenes opportunistic actions.
**Key Points:**
1. **Project Goals:** Sei aims to provide a fast and secure blockchain for decentralized and transparent transactions, ensuring a platform for swift and reliable trades.
2. **Applications and Issues Addressed:** It seeks to solve problems like slowness and lack of transparency in centralized exchanges using blockchain technology. As a result, transactions can be faster, without intermediaries, and more transparent.
3. **Community and Participation:** Focusing on decentralized and transparent trading has garnered significant attention in the DeFi community, attracting active users and developers.
4. **Technology and Innovation:** It utilizes a decentralized Order Book technology, allowing users to directly place their buy and sell orders.
5. **Token Economy:** The Sei token is used for transaction fees and securing the network while enabling governance participation.
6. **Token Release Program (Vesting):** Sei tokens are gradually released to prevent sudden sales and value depreciation.
7. **Fees and Usage Policies:** It has cost-effective fees, enabling trading with low costs.
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Using the "frictionless withdrawal system" vulnerability of the protocol, hackers stole more than $4 million. Some of the funds have been transferred to Kucoin and HitBTC.