The Level 1 blockchain’s native cryptocurrency, Sei (not to be confused with Sui from Mysten Labs), is set to launch today and will be available for trading on centralized exchanges immediately after its mainnet release.
Cryptocurrency exchanges Binance, Upbit, and Kucoin announced their plans to begin trading Sei tokens at 8:00 AM Eastern Time, shortly after the mainnet launch.
Sei is a Proof-of-Stake blockchain based on the Cosmos SDK, optimized for trading with the ability to generate blocks in less than a second. In April 2023, the primary developer of the Sei network, Sei Labs, raised $30 million in strategic funding through two rounds from several venture firms, including Jump and Multicoin Capital.
Unlike general-purpose blockchains like Ethereum and Solana that support various types of applications, Sei will be a network tailored for specific applications within the Cosmos ecosystem. With functionality supporting fast decentralized trading, Sei is focused on a specific niche and will compete with other Cosmos networks such as Osmosis, Injective, and Kujira.
