Key Takeaways:
- SEI trading will begin on Binance, KuCoina, and Gate.io simultaneously.
- The token price has already jumped 500%.
- What is the project all about?
YEREVAN (CoinChapter.com) — SEI token trading will commence on three major exchanges simultaneously, according to announcements. Binance, Gate.io, and KuCoin will start trading the SEI/USDT pair at noon on Aug 15.
Following the announcements, SEI token prices flew nearly 500% in the previous 24 hours, reaching $0.000006887 in the European session on Aug 14.
Notably, Binance will also enable trading for four additional pairs: SEI/BNB, SEI/BTC, SEI/FDUSD, and SEI/TRY. The exchange asserted that the SEI coin distribution will continue till the end of the farming, which is Aug 31 on the Binance Launchepool.
In detail, the Sei Network will be the 36th project on the Launchpool platform. The Binance Launchpool allows users to stake crypto tokens to earn new tokens. Thus, users can farm SEI by staking BNB, TUSD, and FDUSD.
What is SEI coin?
Sei calls itself a “sector-specific” layer-1 blockchain and aims to provide traders with faster transaction finality of 600 ms and throughput of 22,000 orders per second. Also, the platform suggests a “parallel processing” model for transactions instead of sequential processing.
Notably, the Sei Network mainnet has not launched as of writing. No timeline has been specified either. Instead, Sei developers said the launch was “closer than you think.”
The hype around the SEI coin will likely increase, given the potential of an airdrop for early adopters. Additionally, the Sei network has partnered with several other protocols, such as Coinbase, Delphi Protocol, etc., to maximize its interoperability.
According to the project’s whitepaper, the Sei Network token has a total supply of 10 billion SEI coins. Out of the total supply, SEI on Binance Launchpool would include 300 million SEI coins in rewards. Initially, the total circulating supply would be 1.8 billion SEI or 18% of the total token supply.
