A Quick Look at the New Public Chain Sei: Built-in Order Matching Engine, Born for DeFi
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A Quick Look at the New Public Chain Sei: Built-in Order Matching Engine, Born for DeFi
Sei Network is building a blockchain designed specifically for DeFi and has recently raised $5 million in funding.
Navigating Web3 tides with focused insightsWritten by: The DeFi Investor
Translated by: TechFlow
Sei Network is building a blockchain purpose-built for DeFi and recently raised $5 million in funding. This article explains why Sei has the potential to become the next hot blockchain.
Overview
Sei aims to fill the gap between two extremes: general-purpose chains and app-specific chains. This means Sei is designed to be the optimal environment for all DeFi applications. So, what makes Sei so different?
1. Built-in Order Matching Engine — Solves scalability issues for on-chain order book applications
Have you ever wondered why the most popular DEXs on Ethereum aren't order book-based? The reason is that on-chain order books require massive transaction throughput.
How does Sei solve this problem?
The team chose to integrate order book infrastructure directly into the chain's architecture. Sei optimizes its design to natively support order book models.
2. Mitigating MEV — Sei batches orders at the end of each block and executes them at the same price to prevent frontrunning
MEV is one of the main reasons behind high slippage in large on-chain trades. By designing out MEV, Sei aims to improve the trading experience for users.
3. Latency and Throughput
On Sei, transaction finality takes approximately 600 milliseconds. This significantly enhances user experience and positions Sei as an ideal platform for various applications. Notably, gas fees on Sei can be paid in multiple tokens.
Airdrop
Sei is compatible with both EVM and Cosmwasm, meaning Ethereum and Cosmos applications can be deployed on Sei. The project recently launched an incentivized testnet aimed at having users help identify potential bugs before mainnet launch. Currently, the project has not issued a token. However, the team has confirmed that 1% of the token supply will be allocated to participants who complete specific tasks.
Investors
As mentioned earlier, Sei recently raised $5 million from several notable investors, including:
- Multicoin Capital
- Coinbase Ventures
- Delphi Digital
- Sam Kazemian (Founder of FraxFinance)
Clearly, Sei has gained strong backing from several prominent institutions.
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The DeFi Investor
