I did a brief study on this Layer 1 project SEI
@SeiNetwork
(Updated May 2025)
I. Project Overview
SEI is a high-performance Layer 1 public chain built on the Cosmos SDK, positioned as an 'institution-friendly blockchain.' The core technical team consists of former key technical personnel from Goldman Sachs. The project entity is registered in Delaware, USA, combining financial genes with compliance advantages. Its core goal is to provide low-latency, high-throughput infrastructure for high-frequency trading scenarios (such as DeFi, derivatives, GameFi) and optimize user experience through a native order book system and dynamic fee model. As of May 2025, SEI has a market cap of approximately $2.7 Billion, with TVL exceeding $200 Million, covering emerging tracks such as DeFi, RWA (real asset on-chain), and DeSci (decentralized science).
II. Core Advantage Analysis
Breakthrough in Technical Performance
Parallel Engine V2: Upgrade to be completed by 2024, actual TPS reaches 12,000, block confirmation time reduced to 0.5 seconds, significantly better than Solana (5,000 TPS).
Native Financial Architecture: Integrated order book matching engine, supports institutional-level trading scenarios, slippage control below 0.7%, trading cost as low as $0.0005 per transaction.
Compliance Advantage: Through KYC module and SEC-compatible architecture, becoming one of the few compliant public chains allowing participation from U.S. investors, attracting institutions like Goldman Sachs and Morgan Stanley to deploy private nodes.
Capital and Policy Endorsement
Institutional Holding Ratio 37%: After Grayscale Investments included it in their candidate list, the average token increase reached 220% within 6 months, with a potential launch of a dedicated trust fund in the future.
Trump Family Strategic Investment: World Liberty Financial under its umbrella has purchased over 640,000 SEI, promoting the 'Digital Dollar' strategic layout, with strong expectations of policy dividends.
$65 Million DeSci Ecological Fund: Targeting a $50 Billion decentralized science market, investing in research crowdfunding, data-sharing protocols, and other areas to seize opportunities in a trillion-dollar track.
Ecological Explosion and RWA Layout
TVL Growth 240%: Leading protocols such as DragonSwap (DEX), Yei Finance (lending), and Elixir (RWA asset tokenization) drive the formation of an ecological closed loop.
RWA Infrastructure: Pilot project with Bank of New York Mellon for a dollar-gold dual-pegged stablecoin, on-chain custody technology supports the on-chain demand for trillion-level traditional assets.
III. Market Performance and Valuation
Short-term Explosive Power: After breaking the $0.24 resistance level in February 2025, RSI maintained at 65, open interest in futures surged by 31%, indicating significant bullish sentiment.
Long-term Valuation Space: Horizontal comparison with Aptos (FDV $5 Billion), SEI's current FDV of $2 Billion is significantly undervalued. If TVL annual growth reaches 700% to $1.5 Billion, a reasonable valuation range is $8-10 Billion.
IV. Recent Reward Activity Overview
Binance Web3 Yield Season Activity (March-April 2025)
Prize Pool Size: $1.5 Million equivalent in SEI, rewarding cross-chain and staking users in phases.
Participation Method:
Cross-chain Task: Bridge at least 25 USDC and 100 SEI to Sei EVM through Binance wallet to share a $100,000 prize pool.
Staking Task: Deposit into Yei Finance USDC pool (≥25 USDC) or SiloStake SEI pool (≥100 SEI) to share a $1.3 Million prize pool.
Technical Highlights: Integration of Stargate/CCTP cross-chain protocol, supporting seamless asset transfer, with an annual yield rate of 18-25%.
Second Phase Airdrop (May 2024)
Distribution Size: 27 Million SEI distributed to 43,000 active addresses, rewarding Staking, liquidity staking, and NFT holders.
Points Mechanism: Users receive 200-6000 SEI based on contribution level (1-3 points), with a maximum value of $3,300.
V. Risk Warning
Intensifying Competition: Facing ecological competition from high-performance chains like Aptos and Sui, continuous attraction of developers is required.
Regulatory Uncertainty: Stricter U.S. SEC policies may affect compliance advantages.
Technical Stability: High-frequency trading scenarios require high network pressure resistance, and must guard against downtime risks.
VI. Summary and Outlook
SEI, with its 'Compliance + Performance' dual engine, has formed a virtuous cycle of institutional capital, technological innovation, and ecological expansion. In the short term, focus on the implementation of Grayscale Trust and the favorable Trump policies; in the long term, look forward to its underlying infrastructure value in RWA and DeSci fields. Investors should pay special attention to the TVL growth of ecological protocols (such as Yei Finance and Elixir) and cross-chain liquidity data, while participating in reward activities on platforms like Binance to lower holding costs.
For further data or activity details
refer to: SEI official website | Binance activity page.
