Sei is a layer 1 blockchain designed for trading operations. Therefore, they chose to build on top of Cosmos SDK to leverage advanced features such as Tendermint protocol, IBC, etc., to create a complete and scalable decentralized trading ecosystem. In addition, Sei is currently in the testnet phase and confirmed that 1% of the total supply will be allocated for Airdrop for participants of the Incentivized Testnet program to experience the network.
In October 2022, Sei established the $50 million Sei Ecosystem and Liquidity Fund to support the development of new applications on Sei and help the team bootstrap liquidity towards the mainnet launch. The fund secured commitments from top venture capital firms, market makers, and exchanges such as Multicoin Capital, Delphi Digital, Hudson River Trading, GSR, Flow Traders, MEXC, Kronos, Hypersphere, and several others.
In April 2023, Sei announced a significant commitment of $50 million from Foresight Ventures, a major venture capital firm. This increased Sei’s total Ecosystem Fund to $120 million. Thanks to the effective support of the ecosystem fund, the Sei platform experienced a tremendous expansion of projects.
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