Sei, the 36th project on Binance Launchpool has started farming on the 2nd of August and will run until the end of the month (31st August at 23:59 UTC). It may sound a little late but there is still time. 21 days left to earn SEI for free if you already have the supported assets to stake. [Not a Financial or Investment Advice].
Do note that only eligible Binance users (KYC-verified) are allowed to participate in farming SEI.
Sei Network, A Brief Introduction
Sei is the fastest, general purpose, open-source Layer 1 blockchain that offers the best infrastructure for the exchange of digital assets.¹ Sei is built by Sei Labs using the Cosmos SDK and Tendermint Core.
Accordingly, Sei is designed to "address the scalability and user experience issues that stop Web3 applications from growing to mainstream adoption. One of its key highlight is its Single Slot Finality which gives faster response times and preventing user transactions from being reverted."²
SEI (token)
This is the native utility token of the Sei Blockchain.
Ticker: SEI
Total Supply: 10 billion SEI
Allocation & Vesting Schedule
Private Sale (Investors): 2 billion SEI (20% of the Total Supply or TS)
Binance Launchpool: 300 million SEI (3%)
Team: 2 billion SEI (20%)
Foundation: 900 million SEI (9%)
Ecosystem Reserve: 4.8 billion SEI (48%)
Except for the above graph, I have not been able to find the details on how the allocated tokens are unlocked.
Per Binance, the remaining Ecosystem Reserve tokens will continue to vest beyond August 2030.
SEI Use Cases
According to Binance Research the current use cases of the token include the following:
Network Fees: Used to pay for transaction fees.
DPoS Validator Staking: SEI holders can delegate their holdings to validators or stake SEI to run their own validator nodes.³
Governance: SEI holders can vote on future DAOs.⁴
Native Collateral: "SEI can be used as native asset liquidity or collateral to applications built on the Sei blockchain."⁵
Fee Markets: Users can use SEI to pay "tips to validators to get their transactions prioritized, which can be shared with users that are delegating to that validator."⁶
Trading Fees: SEI can be utilized as fees for exchanges built on Sei blockchain.⁷
How to Farm SEI on Binance Launchpool
Keeping your BNB on the BNB Vault will automatically makes you eligible to share from the Launchpool rewards without doing anything. Earnings are distributed to your Spot Wallet daily until the farming ends.
Another way to farm is by manually staking any of the 3 supported assets on their corresponding pools and share or earn rewards. 10 million SEI are allotted every day and shared amongst the 3 pools in different percentage. Details below.
👉BNB Pool
240 million SEI or 80% of the total launchpool rewards. Users who stake in this pool will share 8 million SEI each day proportionate to their BNB staked amount.
At the time of this writing, a total of 6,997,446 BNB is staked.
👉TUSD (TrueUSD) Pool
A total of 45 million SEI or 15% of the total rewards have been allotted to this pool (or 1.5 million daily).
A sum of 432,343,705 TUSD is currently staked.
👉FDUSD (First Digital USD) Pool
A total of 15 million SEI or 5% to be shared amongst the users who stake in this particular pool (500k each day).
144,210,243 FDUSD are staked to date.
SEI Launchpool Details:
Launchpool Token Rewards: 300 million SEI (3% of total token supply)
Initial Circulating Supply: 1.8 billion SEI (18% of the total token supply)
Hourly Hard Cap per User:
- 33,333.33 SEI in BNB pool
- 6,250 SEI in TUSD pool
- 2,083.33 SEI in FDUSD pool
Token Listing
Binance will list SEI (on the Innovation Zone )on the 15th August at 12:00 UTC and open trading with the following pairs:
- SEI/BTC
- SEI/USDT
- SEI/BNB
Summary
Sei is a Layer 1 blockchain that is said to have been optimized for the exchange of digital assets. The Mainnet is expected to launch this Q3 of 2023.
SEI, the blockchain's native utility token is currently available for farming in Binance Launchpool and ends on 31st August. Users can farm the token by staking BNB, TUSD or FDUSD.
SEI will be listed on Binance this 15th August.
For infotainment only. Info from Binance / Launchpool / Sei / Docs
Lead image created on Canva. Other photos linked to their sources. 11082023/09:25ph
Posted Using LeoFinance Alpha
You keep updating us about various blockchains, true I've tried to understand some like Binance but I always find it difficult, I think the only blockchain that I find so easy and seamless to use and understand is Hive.😅😅😅 but I'll keep exploring. Haha
Thanks for sharing.
Thank you :) I thought of diversifying my content and not mainly about my life or day and such😉 This way, I could learn other things outside of Hive too :)
!LUV
@amiegeoffrey, @ifarmgirl(1/5) sent LUV. | connect | community | HiveWiki | NFT | <>< daily
! help(no space) to get help on Hive. InfoSince I read Binance, I take a step to the side, since it is not available in my country, so I cannot carry out any activity that is linked to it 😔
That's okay. It's better to be away from centralized entities anyway :) Thank you for your remarks.
!PIZZA
That's right!
Yeah, it's actually one of the biggest project for this year.....Thanks for the update 😊
Thank you. I'm curious though, why do you say it's the biggest project for this year?
It's a governance token, which network fee is very less. Launch pool is the biggest in the game, after launch pad the launch pool comes in the play. it's also one of the fastest among all the layer one token, which I see people putting their million dollars in it already.
I'm expecting a huge parabolic movement the day it launch
That's a very interesting take, thank you for sharing your thoughts on it. We shall see how it goes :)
!PIZZA
Yeah😊
I don't have any USDT and no BNB in my account😅😅. So I don't have any opportunity to participate in the Binance lunch pool. But still, I am able to gain knowledge about it without making any research by reading your post.
Thank you for sharing your knowledge.
It's good to not keep assets on CEX so you're good😉
Thank you, Inti.
!PIZZA
I have noticed that most of all these networks always have their tokens.
Nice one and thank you for sharing with us
Always a pleasure. Thank you !LADY
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@ifarmgirl how do you excel in so many fields? you are so versatile!!!
Awww, that's so kind of you. I'm learning through these research 😉
Thank you, !LADY
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LOHtokens.@ifarmgirl, you successfully shared 0.1000 LOH with @ibbtammy and you earned 0.1000 LOH as tips. (1/18 calls)
Use !LADY command to share LOH! More details available in this post.
I’m so proud of you, keep it up!
Many thanks :) Keep going too, !LUV
@ibbtammy, @ifarmgirl(1/5) sent LUV. | connect | community | HiveWiki | NFT | <>< daily
! help(no space) to get help on Hive. InfoYou are welcome and thanks again Hehehe
I also received notification about it, and now after reading your post I'll search it out more, as I've some usdt too for participating in this 😉
Have a beautiful day ❤️
All the best, Lesly :) Thank you and enjoy yor Friday
!LADY
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LOHtokens.@ifarmgirl, you successfully shared 0.1000 LOH with @les90 and you earned 0.1000 LOH as tips. (3/18 calls)
Use !LADY command to share LOH! More details available in this post.
https://leofinance.io/threads/ifarmgirl-leo/re-ifarmgirl-leo-bcgdxvty
The rewards earned on this comment will go directly to the people ( ifarmgirl-leo ) sharing the post on LeoThreads,LikeTu,dBuzz.
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Thank you lots !LUV
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Thanks
!PIZZA
Welcome
When such coins are launched it is very good for people to get a good profit if the project is good then it is very popular within the coming time.
Yes, although some might just be in it for the profit and not for long-term hold :)
Yeah its good to taking profit.
There are a lot of good opportunities out there, this looks like a good mon bag creation strategy. A little work and potential big return in the next bull run.
Thank you for the information.