Launched in 2022, the Sei Network offers infrastructure for trading apps of different kinds, including NFT marketplaces, gaming decentralized exchanges (DEXs), and DeFi DEXs. While many layer-1 blockchains are general networks that are built to allow developers to craft several types of apps, Sei is designed especially for trades.
The network’s unique architecture includes its Twin-Turbo Consensus mechanism, which, according to the company, enables the network to process up to 22,000 orders per second and a transactional finality of 600 milliseconds, making it one of the fastest blockchains to date. Combined with the order-matching engine that’s integrated into its system, Sei enables efficient scaling for trading apps, ensuring seamless and uninterrupted trading experiences across different exchanges.
SEI, the network’s highly-anticipated native token, comes to Bitfinex as a utility token that enables users to pay network fees and trading fees for exchanges on the blockchain. Additionally, holders of the SEI token will be able to participate in any future governance of the protocol.
“The Sei Network’s impressive speed and operability built specifically for trading bodes well for the future of decentralized finance,” said Henry Child, Head of Tokens at Bitfinex. “We are thrilled to add SEI to our exchange’s diverse and broad list of available tokens.”
Made up of a team of former employees from Goldman Sachs, Google, Robinhood, Nvidia, and Databricks, the company made news in April of this year by announcing they had raised $30 million in its two rounds of fundraising, bringing the company’s valuation to $800 million. Investors include Jump, Distributed Global, Multicoin, Asymmetric, Flow Traders, Hypersphere and Bixin Ventures.
Bitfinex will open deposits for SEI on August 15 at approximately 10:00am UTC. Trading of SEI will commence on August 15 at approximately 12:00pm UTC, in trading pairs against the US Dollar (USD) and Tether tokens (USDt).
To obtain access to SEI on Bitfinex, customers can visit https://www.bitfinex.com/?refcode=0bC4Lljc?refcode=0bC4Lljc.
*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com.
About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.
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