What is the SEI token?

SEI is a layer 1 public blockchain that differs from Ethereum. It is built on the COSMOS ecosystem and focuses on DeFi applications. Currently, the project has a valuation of $800 million and has raised $100 million in funding. It emerged during the same period as Aptos and Sui, other public blockchain projects. In comparison to Aptos and Sui, the SEI team mostly comes from traditional IT companies, which gives them strong overall capabilities and stability.

What are the key features of the SEI token?

In the article “Aptos vs Sui” a comparison was made between Aptos and Sui as two new public blockchains that employ the latest MOVE programming to achieve a TPS (transactions per second) of over 100,000 while reducing transaction fees to around $0.01. As a result, both projects secured funding of $360 million and $400 million, respectively.

SEI stands out from Aptos and Sui in a significant way. Instead of building its own ecosystem like Aptos and Sui, SEI leverages the COSMOS ecosystem and focuses on DeFi. The challenge with building a self-contained ecosystem is that there are many blockchain options available, and successful projects are limited due to limited resources. SEI utilizes the COSMOS ecosystem and specializes in DeFi, resulting in a TPS that is not as high as Aptos and Sui, reaching around 20,000 TPS, an increase of over 80% compared to COSMOS. Additionally, SEI processes blockchain transactions in parallel rather than using the traditional queuing method, which is a significant technological difference for SEI.

SEI Team

The SEI team mostly consists of professionals from top-tier internet companies, including Airbnb, Robinhood, Goldman Sachs, and others.

SEI Development Roadmap

In late October 2022, the whitepaper for SEI was released, and it was announced that 1% of the tokens would be airdropped to the community.

On March 14, 2023, Sei Network announced the launch of the final testnet version, Atlantic-2, before the mainnet went live. Within a week of the Atlantic-2 testnet going live, it attracted over 500,000 independent users. In just one month, it garnered over 3.6 million independent users and processed over 35 million transactions.

On March 29, 2023, Sei Network officially announced the establishment of the SEI Foundation on Twitter. The SEI Foundation is a non-profit organization created to support the Sei ecosystem by funding protocol development and ecosystem expansion. The SEI Foundation will handle token grants, airdrops, product requests, advocacy, and commissioning plans.

On April 4, 2023, Sei Network tweeted about the Sei Sunken Treasure event, which is the largest NFT series by Sei. Over 600,000 NFTs have been minted since March 15.

SEI Airdrop Guidelines

SEI has made it clear that 1% of the tokens will be airdropped to the community. The total supply of SEI tokens is uncertain, but the estimated price for the SEI test tokens in the official airdrop mission is $3 USD. The actual token price may differ from this value.

SEI has provided clear instructions for the airdrop missions, and each mission comes with specific guidelines. Upon completion of the missions, participants will receive points, and the number of tokens received in the airdrop will be determined based on these points. The entire airdrop mission does not require any money; it only requires testing tokens on the testnet. Therefore, time is the biggest cost. Since the tokens are expected to be listed on exchanges in June, most of the airdrop missions have less than three days remaining.

Here is a detailed guide for the airdrop:

Requirements: You must have Discord and Twitter accounts.

1. Download the Leap Cosmos Wallet. The entire task will require the use of the Leap Cosmos Wallet. Download it from this address: https://www.leapwallet.io/cosmos
2. Airdrop mission release website: https://edge.blocked.cc/products/1 Blocked is the official partner institution of SEI.
3. Switch the network of the Leap Cosmos Wallet to SEI.

4. Go to the SEI testnet to claim the test tokens: https://app.sei.io/faucet/ Some users have suggested claiming the test tokens on SEI’s Discord, but it is not recommended because you cannot receive UST2 test tokens there. Additionally, the distribution of test tokens on Discord is not immediate. Whether on Discord or the testnet, you can only claim test tokens once every 24 hours, with a reward of 0.1 SEI. If you claim tokens on Discord, you won’t be able to claim them again on the testnet.

5. Open the mission website, follow the airdrop instructions.