What is Sei Network?

Sei is a Layer 1 Proof-of-Stake blockchain that is optimized for trading and exchanges. The network aims to solve scalability and performance issues that may be holding back decentralized exchanges (DEXs) on general-purpose blockchains.

What Problem does Sei Solve? 

Most decentralized exchanges today are built on general-purpose blockchains, which lack the scalability and the performance needed for a high-quality trading experience.

Issues with general-purpose blockchains include:

• Slow finality and block times
• Low transactions per second
• Front-running and MEV vulnerabilities
• High costs for frequent traders

Network Tokenomics 

The native token of the Sei ecosystem is SEI. It has utility purposes including:

• Paying transaction fees on the Sei blockchain
• Used for on-chain governance of the protocol
• Staking to help secure the network and earn rewards

SEI token staking specifics: 

• Percentage of total supply staked: 60%
• Compounding: Rewards do not automatically compound
• Reward frequency: Distributed every block (~.37 seconds)
• Unbonding period: 21 days
• Slashing penalties: The two main types of violations are double-signing and unavailability.

Via Figment