About

Sei (SEI) is an integrated, general-purpose Layer-1 network that aims to be the fastest network for exchanging digital assets. Sei launched in August 2023 alongside SEI, its native token that was airdropped to early users. The SEI token serves functions related to (i) transaction fees, (ii) staking, (iii) rewards, and (iv) governance.

Sei V1 was based on the Cosmos SDK and Tendermint Core protocol. The network's built-in features, such as Twin-Turbo Consensus and transaction parallelization, reduce latency and increase transaction throughput.

The Sei V2 upgrade introduced three major upgrades to the network in May 2024; (i) compatibility with Ethereum Virtual Machine (EVM) smart contracts written in Solidity, (ii) optimistic parallelization, and (iii) a re-architecture of the network’s storage interface with SeiDB.

In the future, Sei plans to launch Sei V3 and Giga, an upgrade that aims to include a new EVM client that offers a 50x improvement in throughput. The project’s vision for 2025 features a heavy focus on builders, creators, and contributors, which will help utilize Sei’s technical innovation to drive practical adoption.

History

In July 2024, Sei v2 beta was released in three distinct phases - in Phase 1, Governance, SEI token holders voted on the proposed upgrade following notifications to validators, in Phase 2, the Alpha Launch, saw validators upgrading their software, transitioning the Sei Pacific-1 Mainnet to "v2." and finally Phase 3 ensured v2 is stable and critical infrastructure, such as RPCs, bridges, indexers, and multisigs, were operational.

In August 2024 the Secret Network's Confidential Computing Layer was integrated with Sei. Through this integration, Secret Network began providing Sei with decentralized confidential computing (DeCC) tooling, documentation, and support. Throughout Q3 and Q4, the team mainly focused on releasing network upgrades, reaching v.6.0.1 by December, following a successful voting of Proposal 90 with 97.77% of the votes in favor.

In January 2025, the Sei Foundation launched Sapien Capital, a $65M venture fund focused on decentralized science (DeSci) startups building on the Sei blockchain. In the same month, Sei saw its token being added on Kraken US Staking Support, among other cryptocurrencies, allowing US clients in select states to participate in bonded staking. Throughout Q1, the team was able to introduce upgrade v.6.0.5 by April 2025 following the approval of Proposal 96: v6.0.5, which passed with 100% of votes in favor.

In May 2025, Canary Capital filed with the SEC to register Sei-based ETF, providing investors with access to staking rewards by allocating a portion of SEI holdings to on-chain staking. Alongside that, the Sei Network announced its Giga Upgrade technical milestone. With the upgrade, the project achieved 50x throughput, 70x faster block production, and 40x execution efficiency, all while preserving the trust model of Proof-of-Stake and offering EVM compatibility.

By June 2025, Circle’s USDC was integrated natively, while the WYST Wyoming state-backed stablecoin pilot chose Sei for blockchain settlement - demonstrating institutional trust and regulatory traction. In July 2025, the Sei Development Foundation and Ondo Finance team announced that USDY, Ondo's tokenized U.S. Treasury Bills product was also brought to Sei Network.

In August 2025, 21Shares filed for SEI ETF with Staking Rewards

In September 2025, Chainlink Data Streams launches on Sei as Preferred Oracle Infrastructure, setting the standard for secure, reliable, and verifiable onchain data for the Sei ecosystem. Additionally, the Sei team has announced the launch of Seiscan in collaboration with the Etherscan team. By the same time, the LayerZero team also announced that PayPal USD (PYUSD) was released through Stargate Hydra as a permissionless token with the PYUSD0 ticker.

In October 2025, Nomura’s Laser Digital launched the tokenized Laser Carry Fund via KAIO on Sei’s infrastructure, emphasizing the protocol’s expanding institutional asset management footprint.

By November, the project saw its token SEI being listed on Binance US, OKX and Robinhood. Furthermore, the Canary Staked SEI ETF began trading under ticker SEIZ.