Sei Blockchain Goes Live, Surpasses $400 Million Market Cap


Sei, a trading-focused blockchain developed by Jump Crypto and Multicoin Capital, launched on Tuesday with its SEI token. The token quickly gained popularity, resulting in a market capitalization of over $400 million within its first day. The trading volume for SEI reached $1.6 billion in the past 24 hours, with major platforms like Coinbase, Binance, and Kraken listing the token.The Sei project faced some complaints about delays in its highly anticipated airdrop, where tokens are given to early users and community members.


 The project’s official account responded, stating that the airdrop rewards would be claimable after a warm-up period for the Sei ecosystem’s preparation.Sei is an application-specific blockchain built using the Cosmos SDK. It aims to provide speed, low fees, and features tailored for trading apps. It focuses on social platforms, gaming, and carbon credits. According to Jeff Feng, co-founder of Sei, trading applications built on-chain struggle to scale, and Sei offers a fundamental rewrite of the underlying infrastructure.The mainnet deployment of Sei coincided with an airdrop of SEI tokens, which will be used for network fees and proof-of-stake security. Airdrops are a popular method for attracting users and bootstrapping liquidity in the blockchain industry. Sei Labs configured the airdrop to allow users of Ethereum, Solana, and Binance Smart Chain to claim SEI tokens by bridging assets to the new network.


However, some users experienced difficulties claiming their tokens and understanding the eligibility criteria. Access to Sei’s official Discord server, where community members interact, also became problematic. The Sei Foundation claimed that the airdrop was not delayed and will provide eligibility information when it occurs.Sei Labs allocated 40% of the circulating supply to the team and private investors, while 48% will go towards ecosystem reserves, including the airdrop and other incentive programs. The remaining supply will be given to the SEI Foundation (9%) and Binance launchpool incentives (3%). 


Source : [Sei Blockchain Goes Live, Surpasses $400 Million Market Cap] logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.