- Summary:
- Sei blockchain has raised $5 million from VCs. We tell you about its mission and how it intends to use the funds.
Sei, the first layer 1 blockchain that is designed for DeFi, has announced the completion of a funding round that raised $5 million. Multicoin Capital will lead the funding round. Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, Flow Traders, Kronos Research, Frax, Yield Guild Games, and Tangent also participated in the round. Over twenty decentralized applications (dApps) are already in development within the Sei ecosystem, and this funding will be used to assist the network as it prepares to launch its mainnet.
Sei and DeFi App optimization
The Sei blockchain was designed specifically for DeFi, and it operates at Layer 1. Sei has adjusted every aspect of the network to favor DeFi apps and provide them with the best possible layer 1. Sei’s Layer 1 has aimed to create the best possible setting for DeFi applications since it was deliberately crafted by exploring the new design space between app-chains and general purpose Layer 1’s. As a result, it is tailored to function optimally with regard to DeFi applications above all others.
Orderbook-based exchanges are an important category of applications that can be run on Sei. The order matching engine is a core component of the platform, allowing any app to quickly create and modify an orderbook. Spot, derivatives, options, sports betting, and other markets may all benefit from this. Sei’s intrinsic frontrunning protection and speedy finality make it a desirable platform for trading large orderbooks. This gives it an edge over other platforms.
By bridging the gap between generic chain solutions and app-specific chain solutions, Sei enables a whole new realm of design possibilities. Sei has intentionally picked for a one-of-a-kind combination of compromises that make its Layer 1 an ideal setting for DeFi apps by carefully examining the new design space that exists between app-chains and general purpose Layer 1’s.