Seilors will be able to unbox their Sunken Treasure NFTs and determine rarity starting at 9:00 p.m. (UTC) on April 5.

From March 15, #SeiNetwork claims to have produced more than 600,000 #Sei Sunken Treasure NFTs.

A Sei Labs-produced event is Sei Sunken Treasure NFT. Participants must complete 25 transactions on the Sei Atlantic 2 Testnet before they can distribute #NFT to other users.

Phase 1 (Gifting) and Phase 2 of this event are distinct parts (Unboxing). The goal of this initiative is to encourage community engagement and cohesion among Sei community members. Donating NFT demonstrates your love for your seilors.

With the aim of building the best infrastructure for decentralized finance (DeFi), Sei Network is the first Layer 1 #blockchain in the world dedicated to orderbook development.

Sei uses the Limit Order Book and is built on the Cosmos SDK (CLOB). Sei Network functions as a decentralized financial infrastructure within the Cosmos ecosystem. Any Cosmos-based dapps may use Sei Network's inter-blockchain (IBC) communication features because Sei Network supports IBC.

The project has confirmed that for people that take part in the Incentivized Testnet program and get a chance to test the network, it would donate 1% of the total supply as an airdrop. This is one way to draw new participants to the project.

Towards the end of August of the previous year, Sei Network successfully raised $5 million from significant investment funds in the current market, including Multicoin Capital, Coinbase Ventures, Delphi Digital, and others. Sei Network also introduced a $50 million fund in October to support #DeFi businesses growing within the Sei ecosystem.

This news is republished from https://coinaquarium.io/

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

Fast, efficient, and optimized for all types of trading apps, #SeiNetwork has made a name for itself as the fastest L1 blockchain in the market 🚀.

Boasting a lower bound of 300ms and an upper bound of 20,000 OPS, Sei's infrastructure focuses on unparalleled speed and efficiency.

Key Takeaways 🗝️

Sei is an open-source L1 blockchain, specialized for trading.

Sei claims to be the best choice for any trading app - DeFi DEX, #NFT marketplace, or gaming DEX.

Native order-matching engine in the L1 enables exchange apps built on Sei to scale beyond other L1 networks.

Sei’s Twin Turbo consensus comprises intelligent block propagation and optimistic block processing, aimed at decreasing consensus time.

Sei employs market-based parallelization, different from #Solana and Aptos, and supports order batching to prevent frontrunning.

Why Sei? 💡

The #Sei Labs team sees exchanges as the most crucial application in the crypto industry, forming the basis for most crypto products.

However, they believe that existing L1 infrastructure limits the scalability of Decentralized Exchanges (DEXs), due to a lack of throughput and long finality times.

This is where Sei comes in. Optimized for any type of trading app, Sei aims to solve the scalability problem, offering superior performance on its network over other L1s.

How Sei Works? 🔧

Sei's success lies in its on-chain order-matching module, Twin Turbo consensus, and additional features like Parallel Order Execution, Native Price Oracles, and FBA.

All these synergize to create a specialized L1 blockchain. Its built-in order matching engine offers a limit order design space akin to regular centralized exchanges, creating an efficient system for builders and users alike. The Twin Turbo consensus mechanism further improves throughput, facilitating faster block times, lower latency, and increased finality - a boon for orderbook-based exchanges.

You can farm $SEI on #Binance Launchpool!

Conclusion 🎯

Decentralized exchanges (DEXs) scalability on L1s remains a challenge.

Sei Network, with its specialized trading-focused infrastructure, offers a promising solution to the Exchange Trilemma - the trade-off between decentralization, scalability, and capital efficiency. It aims to provide an optimal environment for any type of trading app, fostering superior performance on its network.

Nevertheless, users should approach with caution as Sei and similar projects are still in their early stages and are bound to evolve significantly. Always remember to manage your risks appropriately! 🛠️🔐

Remember, every like, share, and comment helps us to keep providing quality content. 👍📝📤

$BNB

Recently, the crypto community has been eagerly anticipating retroactive airdrops from potential projects, following the success of Arbitrum’s airdrop event. Here are 5 projects predicted to potentially launch an airdrop for users in the near future.

zkSync

zkSync is a layer 2 scaling solution that uses ZK Rollups technology, built with the goal of reducing costs, increasing transaction speed, and providing security on Ethereum. Vitalik Buterin, co-founder of Ethereum, has stated that this platform can promote high-throughput scaling, leading to widespread adoption.

In addition, zkSync allows access to the blockchain through the MetaMask wallet due to its compatibility with EVM. In December 2022, Matter Labs, the developer of zkSync, raised $200 million in a Series C funding round led by Blockchain Capital and Dragonfly. Top DeFi applications on Ethereum, such as Chainlink, Uniswap, and Aave, have also announced their launch on this platform.

Starknet

Starknet is Ethereum’s layer 2 solution that applies ZK Rollups. StarkNet allows any dApp to operate, expand, and scale limitlessly without affecting the aggregation and security of Ethereum, thanks to StarkNet’s reliance on the STARK system, a technology developed by StarkWare. Previously, StarkWare also confirmed the launch of the STARK token and established utilities for it to serve the layer 2 network classification process on Ethereum.

StarkWare launched the main network StarkNet in November 2022. The total deposit amount on this network increased by 45% to $2.49 million after Arbitrum announced plans to launch the token and users rushed to hunt for airdrops. According to data from Nansen, the StarkNet ecosystem recorded a record deposit amount of $3.4 million ETH and DAI as of March 17.

Scroll

Scroll is a layer 2 blockchain built on zkEVM Equivalence technology. This is a new ZK Rollups technology that is fully compatible with EVM and was developed in early 2021. This project raised $30 million in investment in April 2022, led by Polychain Capital. The design of Scroll duplicates the same version of EVM and is used on the mainnet. This helps Ethereum developers deploy source code more easily on Scroll than some alternative options like zkSync and Polygon’s zkEVM.

On February 28, the project development team launched on the Ethereum Goerli testnet, allowing for public testing. More than 100,000 users accessed the previous version of Scroll’s test network. The mainnet launch of this platform is planned for the end of 2023.

Sui Network

Sui Network is a layer 1 blockchain built on the Move technology, similar to Aptos. Aptos Labs recently launched their own token, APT, and airdropped 20 million tokens to eligible users on October 18th. Many are expecting Sui to follow suit and issue their own token, potentially retroactively rewarding the community.

The platform is expected to launch its mainnet in Q2 of 2023. On March 21st, Mysten Labs launched the Wave to Mainnet campaign to promote the potential of the Sui protocol to the community. By participating in the project’s activities and testing its products, users may have the chance to receive an airdrop in the future.

Sei Network

Sei Network is a layer 1 blockchain developed on the Cosmos ecosystem, focused primarily on DeFi services. The platform includes basic applications such as a matching engine and liquidity aggregation model to enhance trading experiences. The project is supported by top investment funds in the industry such as Multicoin Capital, Coinbase Ventures, and Delphi Digital.

The Sei development team launched its testnet in Q2 of 2022, with various events related to NFTs and other tasks. Users who participated in these events may have the chance to receive an airdrop when the project launches its mainnet, if it happens.

Conclusion

Overall, the crypto community is eagerly anticipating the launch of these two promising projects and the potential for retroactive airdrops. However, it’s worth noting that the timing and likelihood of these airdrops are uncertain and dependent on the individual projects’ decision-making processes. As always, crypto enthusiasts should proceed with caution and conduct thorough research before investing in any project.

#SuiNetwork #SeiNetwork #StarkNet #Scroll #zkSync

This article was republished from azcoinnews.com

Cryptocurrency exchange Binance is adding two new altcoin projects to Binance Launchpool. The projects are Sei Network (SEI) and CyberConnect (CYBER).

Binance users can stake BNB, TUSD, and FDUSD in the Launchpool pools and earn SEI and CYBER tokens.

Sei Network becomes the 36th project and CyberConnect the 37th project on Binance Launchpool. Users can start staking BNB, TUSD, and FDUSD in the Launchpool pools in the next 5 hours to earn SEI and CYBER tokens.

This announcement expands Binance’s offerings and provides more opportunities for users to earn rewards through staking.

Users can participate in the Sei Network and CyberConnect projects on Binance Launchpool by staking their BNB, TUSD, and FDUSD in separate pools. By doing so, they can farm SEI tokens for 30 days, starting on August 2nd at 03:00, for Sei Network, and CYBER tokens for the same duration and starting time for CyberConnect. This staking process allows users to earn rewards in the form of SEI and CYBER tokens during the 30-day period.

Token Distribution Details

Sei Network farming has allocated 300 million SEI tokens, which is 3% of the total SEI token supply. CyberConnect farming, on the other hand, has allocated 3 million CYBER tokens, equivalent to 3% of the total CYBER token supply.

When staking BNB, TUSD, or FDUSD in the pools, users will receive rewards. 80% of the total reward amount will go to BNB stakers for both SEI and CYBER, 15% will go to TUSD stakers, and the remaining 5% will be given to FDUSD stakers. This distribution applies to both SEI and CYBER token farming.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptocurrencyNews #NFT #Web3 #Blockchain #SeiNetwork