What is Sei Network (SEI)

1. Project Introduction
Sei Network is a new Layer 1 blockchain project aimed at expanding the DeFi ecosystem. It is built on the Cosmos SDK and Tendermint Core, which are the technical tools used for creating Web3 applications. Sei Network aims to be an industry-centric project, breaking away from traditional blockchain designs available in the market. The native order matching engine within Sei Network enables multiple projects to easily build and scale their DEX using a local order book, which records the list of buy and sell orders for specific financial assets. Additionally, a price oracle provides information on various asset prices for dApps on Sei Network. Sei integrates with Tendermint, an open-source software that allows blockchain deployment in any programming language, achieving a finality of 600 milliseconds. To reduce transaction costs, Sei implements multi-level order bundling, allowing market makers and professional traders using Sei applications to submit one transaction to update multiple markets. Sei also employs dual turbo consensus to enhance network latency and throughput, reducing the time required for validators to receive blocks.
2. Team & Investment Info
Team: Sei was founded in 2022 by Jay Jog and Jeff Feng. According to official sources, the Sei team comprises three main categories of members: senior engineers from traditional internet companies like Robinhood and Airbnb, crypto OGs from the Cosmos ecosystem, and traders with rich traditional tech experience from firms like Goldman Sachs. The core members include two co-founders, financial analyst Jeffrey Feng and software engineer Jayendra Jog, both alumni of the University of California. The team also includes members from diverse backgrounds such as Robinhood, Databricks, Airbnb, and Goldman Sachs.
Funding: Supported by several well-known institutions, Sei raised $5 million on August 31, 2022, from investors like Multicoin Capital, CB Ventures, GSR_io, Flow Traders NY, and Wehrtyou. On April 11, 2023, Sei raised $30 million from investors including Jump Capital, Distributed G, Bixin Ventures, IOBC Capital, and OKX Ventures. The following day, they secured an additional $50 million from Bitget Global and Foresight Ventures.
3. Social Media URLs
X: https://docs.seinetwork.io/
telegram: https://t.me/seinetwork
Discord: https://discord.com/invite/sei
4. Token Info
Token Symbol: SEI
Total Supply: 10,000,000,000 SEI
Token Type: Mainnet Coin
Issuance/Burn Mechanism: Fixed supply
Contract Address: ibc/71F11BC0AF8E526B80E44172EBA9D3F0A8E03950BB882325435691EBC9450B1D
Token Distribution:
48% of the tokens are allocated to the ecosystem reserves, which include staking rewards, ecosystem incentive programs, airdrops, and rewards.
The Sei Foundation receives 9% of the supply, while the Sei team and investors each receive 20%.
For more details, refer to the white paper: https://github.com/sei-protocol/sei-chain/blob/main/whitepaper/Sei_Whitepaper.pdf
5. Related Links
Official Website: https://www.sei.io/
Audits: https://cmc.certik-skynet.com/redirect?project=sei-protocol
Other Info: https://www.rootdata.com/Projects/detail/Sei%20Network?k=Mjc5MA%3D%3D
GitHub: https://github.com/sei-protocol