The Sei blockchain stands out for its sensational speed, completing blocks in less than 390 milliseconds, giving it the status of the fastest decentralized network in existence. It is the industry’s first “parallelized EVM blockchain,” combining Ethereum’s breakthrough development framework with Solana’s cutting-edge performance, prioritizing high throughput, reliability and security.
Sei is part of the Cosmos ecosystem of blockchains and is designed to support an extensive range of dApps that should cater to high-frequency trading at a low cost and provide a seamless user experience. After launching its mainnet in August 2023, its cutting-edge infrastructure has become a big hit with developers, and 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.
Research into the ecosystem of Sei
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 coming months amid strong optimism around the broader crypto industry.
Infrastructure: Axelar
By building the blockchain interoperability hub for Web3, Axelar aims to connect disparate blockchain networks, allowing any dApp on any chain to connect seamlessly.
Axelar can be thought of as a Layer-0, similar in some ways to ChainLink. The permissionless overlay network allows Web3 users to communicate with any asset or dApp, on any network, with just one click. dApp developers will benefit from Axelar’s simple integration process, using a single protocol and API that paves the way for global liquidity and the ability to interact with the entire blockchain ecosystem.
DeFi: Jellyverse
When it comes to DeFi, it’s hard to find a more extensive ecosystem on Sei than the Jellyverse, which can uniquely connect to multiple blockchains and tap into the liquidity of them all.
Jellyverse focuses on real-world asset trading, where physical assets such as stocks, bonds and commodities are represented as tokenized jAssets that can be freely traded in a peer-to-peer manner. 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
Simba, a self-custodial order book DEX, offers users a fast, 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 leverages Sei’s unique high throughput to enable near-instant trade settlement, giving traders the reliable, robust platform they need to engage in high-frequency trading and arbitrage.
Data and analysis: KYVE
Sei is home to a number of rel=”nofollow”>KYVE, a decentralized archive network that aims to increase the scalability of data flows 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 having to worry about running time-consuming queries. It also eliminates the need for dApps to rely on unvalidated, centralized data providers.
NFTs: Seilors
Of all 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 into the largest NFT community on Sei, and its driving ambition is to accelerate adoption of the underlying Sei blockchain.
The 10,000 NFTs were minted on October 3, 2023 and sold out in minutes, snapped up by an enthusiastic community said to be pushing the boundaries of creativity and innovation.
Stable coins: UXD
UXD is a fully collateralized and delta-neutral stablecoin that first launched on the Solana blockchain, before expanding to Cosmos via Sei. It claims to be the first stablecoin on Sei to use delta neutral positions, which is a hedging strategy of traditional finance that relies on using multiple positions in assets, balancing positive and negative deltas – or the extent to which those positions are exposed to shifts. in the price of the underlying assets.
UXD’s delta neutral position is a long BTC spot position and a short BTC perpetual swap position, which generates returns based on market conditions. Overall, UXD claims to deliver returns of around 10% on average. Use cases include credit platforms, liquidity mining, and entering and exiting positions.
GameFi: Tatami
Sei may be primarily focused on DeFi and trading, but it is 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 tools, an integrated marketplace for trading in-game assets and a launch pad for new games. In this way, it aims to change the way blockchain games are created and experienced, with a focus on distributing games that build on the platform within the wider Web3 community. It can be thought of as a central hub where games can play games, accumulate assets, complete quests, and trade across multiple gaming blockchains.
Wallets: Leap wallet
Sei offers some 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 several 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 the device where it can be accessed by the user with a simple password, making it easy to recover a lost wallet. The streamlined user interface allows you to seamlessly swap assets, stake and more with just a few clicks.
The Next Blockchain SenSei-tion
With its innovative order matching engine, massive scalability, strong partnerships and dedication to research and development, Sei delivers one of the most efficient, transparent and secure trading experiences of any blockchain. This is evident from the rapid growth of the underlying ecosystem, which excels in terms of innovation, collaboration and opportunities.
Sei’s rapid expansion is a testament to blockchain’s enormous potential to realize a more inclusive financial future. Sei, with its diverse ecosystem of applications and services, is at the forefront of blockchain’s quest to drive meaningful change in the world, based on a new era of community-based innovation and decentralized asset ownership.
