To Unlock a New Era for DeFi
The fund aims to support top teams in the Sei ecosystem and provide liquidity to apps launching on the network.
New York, NY, Sept. 28, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Sei, the first Layer 1 designed for trading, announced a $50M Sei Ecosystem and Liquidity Fund to support the development of new apps on Sei and help teams bootstrap liquidity going into mainnet launch. The fund serves to rapidly accelerate the institutional adoption of decentralized finance.
The Sei #DisruptDeFi Fund has gotten commits from top venture capital firms, market makers and exchanges like Multicoin Capital, Delphi Digital, Hudson River Trading, GSR, Flow Traders, MEXC, Kronos, Hypersphere and several others. These partners will help ensure the best teams on Sei get ample opportunity to grow and bootstrap liquidity on the ecosystem at mainnet launch.
“Ironically amidst all of the current market conditions, this is a generational time to build in crypto. Much of the industry has been de-risked from an adoption and capital perspective, yet we’re still early enough where there is meaningful opportunity to make a dent. Once all the noise has subsided, we want the Sei Eco Fund to highlight the best and brightest teams,” said Jay Jog, Co-Founder of Sei.
The optimizations made to the Sei Layer 1 blockchain unlock a new design space for DeFi and makes it possible for new types of financial products to emerge – everything ranging from live sports betting to complex options and futures. Decentralized applications are able to improve their user experience and iterate on new kinds of products that would not be possible on any other Layer 1. The Sei Ecosystem and Liquidity Fund serves to empower these new applications and the bold teams behind them.
“The vision of the Sei Eco Fund is simple: back the next generation of disruptive DeFi teams and enable what cannot be done on any other Layer 1,” said Jeff Feng, Co-Founder of Sei.
For teams interested in the Sei Eco Fund: Apply Here
Sei is the first Layer 1 designed for trading, optimizing every layer of the stack to give exchanges an unfair advantage. Exchanges are the killer app of crypto, but current Layer 1 infrastructure holds them back. Most Layer 1’s fall into two extremes, general purpose and app-specific. Sei unlocks a new design space in between as a use-case specific Layer 1. Sei is the fastest chain to finality, includes frontrunning resistance, several levels of order bundling, and offers a native order matching engine that apps can leverage. There are currently 50+ teams from Solana, Polkadot, Terra, and NEAR building on top of Sei going into mainnet. Team is backed by Multicoin, Delphi, Tangent, and several market makers like Hudson River Trading, GSR, Flow Traders.