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HomeCryptoThe Ultimate Beginner's Guide to Sei Network: Groovy Edition

The Ultimate Beginner’s Guide to Sei Network: Groovy Edition

So, What’s the Hype with Sei Network? Alright, buckle up, because $Sei is not your grandma’s blockchain! Picture this: Sei zooms through transactions at lightning speed, claiming to be the Usain Bolt of Layer 1 blockchains. With a processing range of 300ms to 20,000 OPS, it’s basically the Flash of the crypto world.

Sei is like that cool kid who’s the jack of all trades but specializes in one thing – trading! It’s an open-source Layer 1 blockchain designed to make trading apps perform like Super Saiyans. Whether you’re into DeFi, NFTs, or gaming, $SEI promises your app will hit its highest note on its blockchain.

The Sei Scoop

Here’s the lowdown in simple speak: Sei is all about optimizing every layer of the stack for trading apps. They’ve got this snazzy native order-matching engine that lets exchange apps on top of it scale like skyscrapers. Plus, they claim to be the fastest chain out there, thanks to their Twin Turbo consensus. It’s like the espresso shot for blockchains, making things speedy and reliable.

What’s their secret sauce? Market-based parallelization! It’s like Solana and Aptos had a funky crypto baby, and $Sei came out with a cool new dance move. And guess what? Sei supports order batching to keep those sneaky frontrunners at bay.

Sei hit the scene on August 16, and their $SEI token trading volume soared past $1 billion. The Sei Labs team is like the maestros behind the scenes, building the open-source version of $Sei and chanting the mantra that exchanges are the heartbeats of the crypto world. It’s currently around its all-time high of $0.77 with a market cap of $1.7 Billion.

You can Buy/Sell/Trade $SEI on Bybit or OKX

Why DEXes Love $Sei The Sei Labs folks think DEXes are the MVPs, but they’ve been facing the Exchange trilemma – a tricky dance between decentralization, scalability, and capital efficiency. Sei wants to be their dance partner and solve the problem by optimizing every layer for exchanges. They’re shouting from the rooftops that any trading app – DeFi, NFT, or gaming DEX – will have its time to shine on Sei.

How it Works – Unwrapped!

Now, let’s dive into the magic behind $SEI. It’s like a swanky club with an on-chain Order Matching module, Twin-Turbo consensus, and cool features like Parallel Order Execution and Native Price Oracles. They mix these together to create a blockchain that’s not just fast but tailored for trading.

Sei’s Funding Rollercoaster Imagine Sei as the rockstar getting showered with cash! In 2022, they scored $5 million in their first funding round, and the party was hosted by Multicoin Capital, Coinbase Ventures, and other big shots. Fast forward to 2023, they raised $30 million in two funding rounds, pushing their valuation to a cool $800 million. Then, Foresight Ventures dropped a whopping $50 million, turning the Sei Ecosystem Fund into a $120 million powerhouse.

Are there Sei-Memecoins?

You guessed it, YES!

Like Injective has a Ninja as a mascot, the Sei Network has Super Saiyans. You know, the overpowered characters of the classic DragonBall-Z series.

Unsurprisingly, the most powerful Sei memecoin is $SEIYAN. It currently has a marketcap over $20 Million.

You can find an overview of Sei-based altcoins & memecoins on Coingecko, while you can trade them on Coinhall.

SEI NFTs

Every chain needs its own set of JPEGs, otherwise, it isn’t a real chain, right?

Of course, the Sei community wanted their own NFTs to rock as PFPs. One popular collection is the Seiyans, loyal to the mascot of the chain. Another one is The Colony, which currently holds a floor of 980 $SEI, and has received a couple of airdrops for holders.

You can trade these NFTs on the Pallet Exchange.

Are Sei Airdrops Coming?

In our opinion, yes.

We already witnessed a few airdrops to The Colony NFT holders, as we mentioned above. These were mostly memecoins, trying to capture the attention of ecosystem enthusiasts. But a little down the line we expect more Sei Airdrop Action. When this ecosystem grows, we expect the airdrops to rise up!

Keep an eye on our X account, cause we’ll be first to post them when it happens.

Final Thoughts

In a nutshell, Sei is like the disco ball of Layer 1 blockchains – shiny, fast, and the life of the party for trading apps. So, if you want your DeFi DEX, NFT marketplace, or gaming DEX to be the belle of the crypto ball, $SEI is where the beats are at! 🚀💃

If you enjoy our content, you can support us by signing up for a Bybit Account with our referral link. Don’t forget to claim your bonuses if you buy/sell or trade crypto.

You might also like our recent content about Trading Fundamentals & our Injective Guide.

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