What is Sei Blockchain?

Sei is an open-source Layer 1 blockchain designed for fast trading, low latency, and exchange-focused applications. It aims to combine the familiar tools of the EVM ecosystem with the speed and performance needed for order-book trading. Upgrades and research projects like Sei Giga add features such as a multi-proposer EVM-compatible design and parallel execution to further increase throughput.

Origin and development

Sei started as a project by Sei Labs, a company focused on building infrastructure for trading and exchange applications. Founders Jeffrey Feng and Jayendra “Jay” Jog, along with other early team members, have backgrounds at companies like Robinhood and Goldman Sachs, which explains their focus on building market infrastructure.

The project gained attention in 2023 with the launch of the SEI token, launchpool events, and exchange listings. Since then, the team has shared technical blog posts, guides for smart contract developers, and a roadmap that features the Giga upgrade and ongoing performance improvements.

How Sei works

Sei was inspired by the Cosmos ecosystem and shares several similarities, such as the use of Tendermint-style Byzantine fault-tolerant consensus. However, Sei has added trading features to the network, like execution and storage improvements to lower latency for order matching and settlement for decentralized exchanges and trading protocols. Developers can also build smart contracts on Sei using tools familiar to EVM developers.

Sei Giga is a separate project that introduces a multi-proposer EVM Layer 1 architecture where data availability and consensus are separated from execution. It uses parallel execution and multiple proposers to avoid bottlenecks in block production. According to early whitepapers and research from the Sei team, Giga aims for high throughput and sub-second finality in tests.

Use cases

Sei is designed for applications that need fast, reliable settlement and high throughput. The project highlights these common use cases:

• Decentralized exchanges that require fast order matching and tight finality windows.
• Automated market makers and limit order protocols optimized for trading.
• High-frequency DeFi primitives that benefit from lower latency and specialized block ordering.
• NFT marketplaces and other applications that need quick confirmations and low fees.

Many of these uses are similar to general DeFi, but Sei stands out by focusing on trading patterns instead of general-purpose computing. Some projects in the ecosystem use Sei specifically for its transaction ordering and matching features.

How Sei compares with other blockchains

Many people call Sei a sector-specific network because it focuses on markets and trading features instead of trying to serve every possible use case. Here is a quick comparison with similar blockchains such as Fantom, Polkadot, Ethereum, Avalanche, and Solana.

SEI tokenomics

SEI is the network’s native currency and what fuels the network. Here are the main details about its supply and distribution, as shared in project materials and market trackers:

• Total supply cap: 10,000,000,000 SEI.
• Distribution: A large share of tokens went to community and ecosystem initiatives, while other portions were set aside for the team, foundation, and launch programs. Public launch activities like launchpools and exchange farming were included in the initial distribution.
• Staking and security: SEI is used for staking and validator rewards. The network uses a delegated proof-of-stake system, where token holders delegate to validators to help secure the chain and earn rewards. Staking rewards and inflation rates may change over time based on governance and protocol decisions.
• Unlock schedules and circulating supply: Some tokens were unlocked at mainnet launch, while others follow vesting and release schedules.

How to buy SEI from a centralized exchange (example: Binance)

Buying SEI on a major centralized exchange is straightforward. For example, on Binance, the basic steps are:

1. Create and verify an account on Binance.
2. Deposit fiat or buy a base cryptocurrency like USD, USDT, BNB, or BTC. You can also buy SEI directly with a credit or debit card.
3. Find SEI in the Buy Crypto or Spot Market section. You can use Instant Buy, Convert, or go to the Spot trading interface and select a pair like SEI/USDT.
4. Place your order. A market order buys at the current price, while a limit order lets you set your own price.
5. After your trade is complete, you can keep SEI on the exchange or withdraw it to a non-custodial wallet for self-custody.

How to buy SEI on a decentralized exchange (example: OKX DEX)

Sei is also available on DEX aggregators and specialized DEXes that support its chain. For example, on OKX DEX, the typical steps are:

1. Install or open the OKX Wallet.
2. Add funds to your wallet with a token you can swap for SEI, such as USDT, SOL, ETH, or another supported asset. Make sure you are using the correct network.
3. In the OKX DEX interface, search for SEI by name or paste its contract address to avoid fake tokens.
4. Select the token you want to use, enter the amount, and set slippage if needed. You can use swap modes or limit orders if available.
5. Confirm the transaction in your wallet and check the explorer to make sure it is complete. Once it goes through, you will see SEI in your wallet balance.

How to buy SEI over-the-counter (OTC)

For large trades or private allocations, OTC options can be helpful. Platforms like Acquire.fi enable financial institutions or high-value individuals to negotiate terms and buy SEI OTC from large holders, the founding team, or early Sei investors. The usual steps for an OTC purchase are as follows:

1. Browse active crypto OTC or secondary listings for the asset you want.
2. Contact the seller or create a custom ticket indicating size, price, and settlement terms.
3. Use escrow and custodial services provided by Acquire.Fi to reduce counterparty risk.
4. Execute settlement through agreed channels, which may include on-chain transfers, wire transfers, or other custody movements.

How to stake SEI

Staking SEI helps secure the network and lets token holders earn rewards. On Sei, you usually delegate SEI to a validator using a compatible wallet. The official Sei staking app is a popular choice. The steps are:

1. Go to the Sei staking app and connect a supported wallet, such as Compass or another compatible option.
2. Browse the list of validators, check their commission and uptime, and choose one to delegate to.
3. Enter how many SEI coins you want to delegate and confirm the transaction in your wallet.
4. Rewards build up over time, and you can claim, compound, or withdraw them using the app. Staking usually has an unbonding period when you undelegate. For Sei, this period lasts several days, so check the latest documentation before unstaking.

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