Welcome back to the Sei Overview. We’re creating the best place for the Sei community to get the latest updates, metrics, insights on the blockchain, its ecosystem developments and more – all in one place. Every Monday.
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The percentages and metrics are calculated from its change over a 7-day time frame, unless noted otherwise.
Highlighting some of the biggest announcements from Sei.
💨 What’s happening: Ondo Finance launched USDY, a tokenized US Treasury Bills product, to the Sei network.
💨 Why it matters: The integration of USDY brings one of the largest institutional-grade RWAs to the Sei ecosystem. USDY is available across nine different blockchains and is ranked fifth among tokenized US treasuries with a market cap of more than $686 million, according to RWAxyz data.
Tokenized US Treasury Bills are digital representations of securities on a blockchain, backed by the actual government-issued assets to ensure stability and legitimacy. These tokens offer investors exposure to low-risk, yield-bearing assets, while maintaining the benefits of blockchain technology.
USDY provides existing developers and new users a more regulated path to access tokenized treasuries directly. It offers predictable yields and minimal volatility, compared to traditional cryptocurrencies. This can make them an attractive entry point for traditional investors who are cautious about crypto’s volatility, but want exposure to blockchain technology.
In Sei’s case, this integration can boost the network’s credibility and its parallelized execution infrastructure can act as a landing place for institutional grade RWAs. This is because RWAs often involve frequent interactions across protocols, making the ability to handle multiple transactions simultaneously an attractive feature.
💨 The bigger picture: Looking ahead, as more tokenized assets are released, it signals a future where RWAs and blockchain technology redefine how global finance is viewed as the two eliminate the intermediaries and reduce costs for asset transactions. Since tokenized assets can be fractionalized, it allows smaller sized investors to participate in traditional markets. As more entrants come into the financial markets, blockchain allows these markets to handle the volume needed to scale, while offering transparency around how money is moved.
With the recently passed GENIUS Act, which establishes a US regulatory framework for stablecoins, the integration of RWAs in everyday lives is advancing rapidly.
As various crypto rails and assets become more readily available, it creates a path where all types of investors can access various DeFi applications, such as lending, borrowing, or yield farming.
Updates on the latest games, validators, builders and more that are helping Sei expand
Stablecoin market cap for Sei reached an all-time high of $297.7M on July 17, according to DefiLlama
Takara Lend hit a new TVL high of $104.3M for its lending money market protocol, DefiLlama data shows
Sei recorded 10.63M unique active wallets in the last month, the most among all gaming chains according to DappRadar
Highlighting the builders, users and ecosystem players within the Sei blockchain.
Helium Wars deployed Atlas, its in-game rewards dashboard, bringing users a gamified quest experience and daily campaigns
Read about YeiSwap’s growth of $185M in swap volume and its distribution method of badges to beta testers
Check out Suki Mori, an anime-style candy crush game, that launched on Sei mainnet
Want to get involved in the ecosystem? Find the latest job postings here or get involved with an activation below.
Applications for the Sei ai/accelathon, a DeFi and AI focused hackathon with up to $1M in prizes powered by the Sei Development Foundation and others, are live until Aug. 20
Check out Sei Gaming Day: Vietnam on July 31 hosted by Hot Spring and Nika Labs and showcasing ecosystem projects
Bridge assets to Sei EVM via the Binance Wallet and deposit into Yei Finance pool to earn a share of a $1.4M prize pool
Participate in DragonSwap’s farm campaign and deposit liquidity provider tokens to receive rewards
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.