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: The Sei Network hit an all-time high of about $353 million in TVL, according to DefiLlama data.
💨 Why it matters: The blockchain’s TVL has been on an upward trajectory since February and is more than 100% higher from about $172 million TVL six weeks ago.
Typically, TVL is associated with DeFi and reflects the amount of assets within a network. Sei’s has been increasing since the beginning of the year, showcasing the growing activity for DeFi on the network. As TVL rises, it can attract developers seeking liquidity-rich networks, low costs, cross-chain capabilities and fast transaction speeds – all of which are crucial for building scalable decentralized applications (dApps).
Its recent rise in TVL provides developers the ability to tap into a deeper liquidity pool for their dApps. If the network can reach its goal of 250,000 transactions per second and enhance developer capabilities, it could additionally attract more users to the network.
For comparison, the blockchain’s returning users metric has also seen a 140% increase over the past six weeks. This is important to keep track of because it means people using the Sei Network continuously return for their onchain needs.
The network is showing promising signs closing out Q1, as TVL and returning users continue to grow year-to-date, alongside its 5 gigagas per second initiative.
💨 The bigger picture: If the Sei Network is able to consistently scale and reach new milestones, while achieving fast transaction times and high gas usage per second, it can bring in a user base that is engaged with the ecosystem.
When markets go down, people typically pull out liquidity. But in Sei’s case, it has grown by TVL in recent months. This can point to more long-term thinking, trust and an engaged user base, even amid a broader market downturn.
If these numbers continue to rise in the current state of the market, the network can set itself up for success when industry sentiment reverses.
Updates on the latest games, validators, builders and more that are helping Sei expand
Zero Hash, an API platform that offers stablecoin trading for enterprises like Franklin Templeton, integrated Sei to its infrastructure
Learn how the integration of Sei’s technology could make trading for traditional markets faster in a blog article by its head of DeFi BD
LayerZero collaborated with Stargate Finance to create cross-chain trading for SEI, making it an omnichain fungible token on Ethereum
SEI token leads in terms of TVL by market cap ratio for L1s (shown below)
Source: Flipside
Highlighting the builders, users and ecosystem players within the Sei blockchain.
ICYMI: Sei Labs Co-Founder Jeff Feng went on CNBC to talk about building during periods of market drawbacks
Hear how Sei Foundation Global Gaming Lead Jason Lim plans to make the network a hub for web3 gaming
Astro Karts shared the team chose to build on the Sei Network for its sci-fi web3 racing game
Yei Finance, a money market protocol, hit an all-time high in TVL at $206M (shown below)
Source: DefiLlama
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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.