Welcome to the Sei Overview. In this edition, we explore Sei’s latest mainnet upgrade, how the network is opting to improve AI micropayments, and new ecosystem projects.
New here? Subscribe here to get updates to your inbox every Monday.
By the Numbers
$SEI token price: $0.06 (+1.5%)
Market cap: $374.8M (+1.7%)
Sei Total Value Locked (TVL): $60.6M (-1.8%)
Daily EVM transactions: 767.1K (-36.1%)
Daily EVM active addresses: 656.3K (-10.6%)
Block time: 0.48s (-17.2%)
Percentages and metrics are calculated over a 7-day time frame, unless noted otherwise.
Sei Showcase
💨 What’s happening: Sei Labs has updated its system to v6.4 as part of its efforts to migrate its architecture to support Ethereum Virtual Machine.
💨 Why it matters: The upgrade introduces a set of changes in the first steps towards separating the network from its Cosmos layer.
The main additions include:
A switch to disable inbound IBC transfers so the network can stop Cosmos-native assets from being bridged in;
Groundwork for disabling outbound IBC transfers that stops them from leaving Sei; and
Groundwork for removing Sei's native oracle, which will eventually be replaced by third-party providers such as Chainlink, API3, and Pyth.
Each of these changes plays a role in Sei's transition toward the Giga upgrade, which aims to increase the network's throughput and reduce finality times.
Disabling inbound IBC transfers is the first step in shutting down the Cosmos layer, as it stops new Cosmos-native assets from entering the network, letting existing balances be migrated out over time.
Stopping outbound IBC transfers completes that process by closing the exit path, at which point the Cosmos asset layer can be removed entirely.
Retiring the native oracle handles the last major Cosmos-era component by handing price data to established external providers.
💨 The bigger picture: Today, Sei runs two parallel execution environments: one handles Cosmos transactions and the other EVM transactions. Supporting both means the network has to carry the code, infrastructure, and maintenance overhead of two systems at once. That extra weight makes it harder to optimize performance.
Collectively, these updates serve to further Sei’s moves towards the Giga upgrade.
Giga is designed to raise the ceiling on how much activity Sei can handle at once. The upgrade promises higher throughput, faster block times, and quicker finality so the network can support high-volume applications like trading platforms, games and consumer apps.
Accelerating Sei’s blockchain
Updates on the latest games, validators, builders and more that are helping Sei expand
Coinbase has integrated Sei, enabling all SEI token transfers to be conducted using its EVM layer
Sei Research Initiative examined Tempo MPP Sessions and how it can enable fast and low-cost off-chain micropayments by using state channels for AI-driven, machine-to-machine transactions
CodeXero launched its AI-powered no-code dApp creation protocol on Sei mainnet
What’s the community Sei’ing
Highlighting the builders, users and ecosystem players within the Sei blockchain.
Wenmarket said it would integrate its prediction markets platform with Monaco to offer perpetual futures trading and lending options
Saphyre enabled gasless swaps on its Sei-powered DEX
Chainport integrated cross-chain bridging between Sei network and other EVM supported chains
Lock in to the ecosystem
Want to get involved?
Check out the latest jobs at the Sei Development Foundation and Sei Labs
Participate in Sei’s Nitro campaign to earn a piece of a $270K rewards pool for lending USDC on Yei Finance
That’s all for this week.
Hit reply and let us know how we did! What was your favorite part of the newsletter? Our founder reads every response.
To get this newsletter delivered to your inbox every Monday, subscribe here:
This product was built by Token Relations.
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.