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The Sei blockchain stands out for its sensational speed, finalizing blocks in under 390 milliseconds, giving it the status of the fastest decentralized network in existence. It’s the industry’s first “parallelized EVM blockchain”, merging Ethereum’s pioneering development framework with the cutting-edge performance of Solana, prioritizing high-throughput, reliability and security.
Sei is a part of the Cosmos ecosystem of blockchains and is designed to support an extensive array of dApps that need to cater to high-frequency trading at low costs and deliver a seamless user experience. Having launched its mainnet in August 2023, its advanced infrastructure has become a big hit with developers, and it boasts one of the most diverse and fastest-growing blockchain ecosystems around. It has become the platform of choice for a range of high-quality dApps, including names like Jellyverse, Axelar, Seilors, UXD, Leap Wallet and more.
Exploring Sei’s Ecosystem
Let’s take a look at some of the most promising new projects building on Sei’s blockchain, which is poised for rapid growth in the months ahead, amid strong optimism around the broader crypto industry.
Infrastructure: Axelar
Building the blockchain interoperability hub for Web3, Axelar aims to connect disparate blockchain networks, enabling any dApp on any chain to connect seamlessly with any other.
Axelar can be thought of as a Layer-0, similar in some ways to ChainLink. With its permissionless overlay network, Web3 users will be able to interact with any asset or dApp, on any network, with just a single click. dApp developers will benefit from Axelar’s simple integration process, using a single protocol and API that paves the way to global liquidity and the ability to communicate with the entire blockchain ecosystem.
DeFi: Jellyverse
When it comes to DeFi, it’s hard to find a more comprehensive ecosystem on Sei than the Jellyverse, which is uniquely able to connect to multiple blockchains and tap the liquidity on all of them.
Jellyverse is focused on real-world asset trading, representing physical assets such as stocks, bonds and commodities as tokenized jAssets that can be freely traded in a peer-to-peer way. Investors can take advantage of automated, self-balancing portfolio pools that simplify the user experience, as well as JellyStake, a liquid staking protocol that offers some of the highest yields in the DeFi sector.
DEXs: Simba
A self-custodial orderbook DEX, Simba offers users a high-speed, fully decentralized trading environment with some of the most competitive and transparent pricing available on any platform. This is combined with low slippage and near-zero gas fees, creating the most optimal trading platform for Sei users.
It takes advantage of Sei’s unique high-throughput to enable almost instant transaction settlement, giving traders the reliable, robust platform they need to engage in high-frequency trading and arbitrage.
Data & Analytics: KYVE
Sei is home to a number of data-focused projects, and one of the most interesting is KYVE, which is a decentralized archive network that aims to boost the scalability of data streams using autonomous storage and standards. Using KYVE, developers, node operators and data analysts can build new data sources, or access third-party data streams without worrying about how to perform time-consuming queries. It also eliminates the need for dApps to rely on unvalidated, centralized data providers.
NFTs: Seilors
Out of all of the thriving NFT communities on Sei, Seilors stands out for its cute, cheerful cast of aquatic, fish-like characters adorned in a variety of sailor outfits and pirate gear. Seilors has grown to become the number one NFT community on Sei, and its driving ambition is to accelerate the adoption of the underlying Sei blockchain.
Its 10,000 NFTs were minted on October 3, 2023 and sold out within minutes, snapped up by an avid community that’s said to push the boundaries of creativity and innovation.
Stablecoins: UXD
UXD is a fully-collateralized and delta-neutral stablecoin that was first launched on the Solana blockchain, before expanding into Cosmos via Sei. It claims to be the first stablecoin on Sei to utilize delta-neutral positions, which is a hedging strategy from traditional finance that relies on using multiple positions in assets, balancing positive and negative deltas – or the degree in which those positions are exposed to shifts in the underlying asset price.
UXD’s delta-neutral position is a long BTC spot position and a short BTC perpetual-swap position, generating yields based on market conditions. Overall, UXD claims to deliver yield of around 10% on average. Use cases including lending platforms, liquidity mining, and moving in and out of positions.
GameFi: Tatami
Sei might be primarily focused on DeFi and trading, but it’s also home to a growing GameFi community, and one of its top projects is Tatami.
Tatami is the first fully-dedicated Web3 game publisher on Sei, offering developer tooling, an integrated marketplace for trading in-game assets and a launchpad for new games. In this way, it aims to transform the way blockchain games are created and experienced, with a focus on distributing games that build on its platform across the wider Web3 community. It can be thought of as a central hub through which games can play games, amass assets, complete quests and trade across multiple gaming blockchains.
Wallets: Leap Wallet
Sei offers a number of interesting wallet options, and one of the undisputed leaders is Leap Wallet, which is compatible with every Cosmos chain. Not only does it support an extensive range of Cosmos and EVM tokens, but it also integrates various dApps, including Jellyverse, plus staking, trading, NFTs, yield farming and more DeFi experiences.
Leap is a non-custodial wallet that simplifies the user-experience by storing the private keys on device, where it can be accessed via the user with a simple password, making it simple to recover a lost wallet. Its streamlined UI means zero-hassle asset swaps, staking and more are just a few clicks away.
The Next Blockchain SenSei-tion
With its innovative order matching engine, massive scalability, strong partnerships and a commitment to research and development, Sei delivers one of the most efficient, transparent and secure trading experiences of any blockchain. This is evident in the rapid growth of its underlying ecosystem, which excels in terms of innovation, collaboration and opportunity.
The rapid expansion of Sei is a testament to the enormous potential of blockchain to deliver a more inclusive financial future. Sei, with its diverse ecosystem of applications and services, is at the forefront of blockchain’s push to drive meaningful change in the world, based on a new era of community-based innovation and decentralized ownership of assets.
