LUCKNOW (CoinChapter.com): Sei Labs, the pioneering force behind the layer one blockchain Sei, has proudly announced the official launch of its SEI mainnet, marking a significant leap forward after a period of rigorous testing.
The SEI mainnet is live after a successful Testnet alpha phase, which witnessed over 400 million transactions and the creation of 7.5 million unique testnet wallets. SEI mainnet launch comes hand-in-hand with the debut of the native SEI token on prominent exchanges, including Binance, Kraken, and Huobi, elevating Sei’s presence in the cryptocurrency ecosystem.
With a unique perspective on blockchain innovation, Sei’s primary objective is to revolutionize the asset exchange process for users. The visionary team behind Sei envisions a future where exchanging assets becomes effortless.
Be it assets for social platforms, immersive games, or captivating NFTs, Sei endeavors to provide an unparalleled user experience.
Jeff Feng, Co-founder of Sei Labs, emphasized this unique approach by stating, “Most layer 1s look to solve a technical problem whereas our mission is to solve the problem with exchanging assets easily.”
SEI’s Diverse Focus
Sei Labs aims to emphasize its dedication to various sectors by dispelling any misconceptions about its focus.
“We have more focus on social platforms, gaming, and carbon credits,” elucidated Feng.
Highlighting the diverse opportunities within the blockchain space, he confidently stated: “There are plenty of other places to trade DeFi assets.”
Celebrated for its unmatched speed, Sei is a technological marvel compared to its contemporaries. Jay Jog, a co-founder of Sei Labs, proudly proclaimed that Sei outpaces Solana with a speed of 10x, offering transaction finality in a mere 250 milliseconds.
This impressive figure includes a 100-millisecond buffer to ensure protocol stability. This further establishes Sei as a frontrunner in the blockchain race. The concept of transaction finality ensures that cryptocurrency transactions remain immutable once concluded, eliminating any possibilities of alteration or reversal.
Demonstrating its global influence and collaborative prowess, Sei has attracted over 200 teams to its ecosystem. Each team contributes to the platform’s expansive development. Impressively, Sei’s achievements also extend to over 7.5 million unique wallets.
This substantial user base underscores its adoption and popularity. Furthermore, the recent press release revealed that Sushiswap’s decentralized perpetual futures exchange is set to launch on the Sei network, further augmenting its offerings.
A Financial Milestone and Impressive Backing
Sei Labs secured a substantial $30 million in funding in May across two funding rounds. Among these investors were esteemed names, including Jump Crypto, Multicoin Capital, and Flow Traders.
The brains behind Sei’s inception bring a rich tapestry of experience. They have previously held key positions at renowned institutions such as Goldman Sachs, Robinhood, and Binance. Their diverse professional backgrounds converge to empower Sei’s innovative journey, ensuring a dynamic approach to blockchain development.
Current Price of SEI token
The SEI token made its debut on Binance. The initial SEI price started at $0.064 per unit, only to skyrocket to a peak of $0.48. As of the time of writing, the current SEI price is $0.18. The total supply of SEI coins stands at 10 billion, with the initial SEI coin issuance being 1.8 billion SEI.
