Sei (SEI)

Sei is a Layer 1 blockchain designed for trading

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Utility

• The docs write about staking and voting (13-10-2022)

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Built using the Cosmos SDK and Tendermint Core
• Consensus mechanism: PoS
• Algorithm:
• Virtual Machine:
• Development language:

Transaction Details

• Capacity (TPS): 22000 (13-10-2022)
• Latency: 600ms (13-10-2022)

How it works

• From their website (13-10-2022):

"Sei features a native order matching engine that any application can leverage to instantly spin up new markets."

Upgrades

• Can be found here (8-2022), all are testnet ones.

Oracle Method

• Uses frequent batch auctioning to prevent frontrunning (13-10-2022).
• From the docs (8-2022):

"Sei has an Oracle module to support asset exchange rate pricing for use by other modules and contracts. When validating for the network, participation as an Oracle is expected and required in order to ensure the most reliable and accurate pricing for assets. For oracle pricing, the voting rounds have several steps to ensure integrity and consensus of pricing data prior to accepting the exchange rates as the source of truth. In each voting period, there are two aggregation steps that oracles must participate in."

Roadmap

• Can be found [Insert link here].

Usage

Projects that use or built on it

• Claims to have 50+ projects building on it. However, the website then says: "Built On Sei offers a comprehensive list of projects built on Serum and Solana." From Techcrunch (28-9-2022):

"So far, Sei’s ecosystem has over 50 teams, mainly coming from blockchains like Solana, NEAR, Polkadot and the defunct Terra, Feng shared. “They’re teams that have already raised venture funding and launched their applications, but felt that their current layer-1 ecosystems lacked what allowed them to really scale and provide the best user experience, which is why they came to us,” Feng said. “All of these teams came over without any incentives.”"

Team, Funding and Partners

Team

• Full team can be found [here].
• Jeff Feng and Jay Jog; co-founders (29-9-2022)
• From their docs (9-2022):

"Sei Labs is comprised of three types of backgrounds:

1. Developers from Robinhood, Databricks, Airbnb, etc. with extensive expertise in orderbook design, infrastructure and the Cosmos stack
2. Cosmos OGs who have navigated the ecosystem for years
3. Finance and strategy members from Goldman Sachs and other market makers who bridge the gaps between DeFi and institutions"

Funding

• From their website (13-10-2022):

Multicoin Capital, Coinbase, Delphi Digital, HRT, GSR, Flow Traders, Anchorage Digital's Nathan McCauly, 0xMaki, Sam Kazemian

• From Techcrunch (28-9-2022):

"Launched a $50 million ecosystem and liquidity fund to support new decentralized finance (DeFi) applications on its platform."

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