Original Author: Babywhale, Foresight News
When it comes to the "new generation" Layer 1 in the past year, Sei Network is one of the outstanding players. In August 2022, Sei Labs, founded by senior professionals from Goldman Sachs and Robinhood Markets, completed a $5 million seed round of financing led by Multicoin Capital, with participating institutions including Coinbase Ventures, GSR, and Flow Traders. Just a month later, Sei announced the launch of a $50 million ecosystem fund, which expanded to $120 million with the support of institutions such as Bitget and Foresight Ventures.
In April of this year, SeiNetwork completed a $30 million financing at a valuation of $800 million, doubling the valuation of $400 million reported by The Block from informed sources. In addition to the seed round investors, new investors such as Foresight Ventures, OKX Ventures, Jump Capital, and Bixin Ventures also joined.
Including the project's own financing and the fundraising of the ecosystem fund, Sei's total financing amount exceeds $150 million. This star project that "attracts countless heroes to compete" also launched its mainnet last month. What are the trading opportunities worth trying for Sei, which is founded by members of traditional financial institutions and focuses on "trading"?
Infrastructure
Wallet
Wallets supporting Sei Network include comprehensive wallets such as Bitget Wallet, Coin98, XDEFI Wallet, as well as Sei Network-specific wallets Compass, Cosmostation, Falcon Wallet, Fin Wallet, Frontier, Keplr, Leap Wallet, Terra Station.
Data
Band Protocol
Band Protocol is a cross-chain oracle that announced its deployment to Sei Network in November 2022. BandProtocol has integrated with Axelar, allowing DApps running on 40+ interconnected blockchains supported by the Axelar network to access Band's off-chain data services in a decentralized manner, providing seamless connectivity and cross-chain interoperability between the EVM and Cosmos ecosystems.
Pyth Network
Pyth Network was originally a Solana ecosystem oracle, later expanded to multi-chain ecosystems.
4EVERLAND
4EVERLAND is a Web 3 cloud computing platform that integrates storage, computation, and networking, aiming to be the infrastructure for Web 3 developers and applications.
Flipside
Flipside is a blockchain data analytics platform that announced a $50 million financing led by Republic Capital at a valuation of $350 million last April.
SubQuery
SubQuery is a data indexing tool originally focused on the Polkadot ecosystem, later expanded to multi-chains. SubQuery received investment from EMURGO Ventures, a subsidiary of EMURGO, the official commercial arm of Cardano, in November last year.
Cross-chain
Cross-chain infrastructure supporting Sei Network includes Axelar Network, Celer, Wormhole, and other projects such as:
Catalyst
Catalyst provides liquidity between modular blockchains, allowing any new modular blockchain network to automatically connect liquidity and exchange liquidity with any blockchain, including Ethereum and Cosmos. Catalyst completed a $4.2 million seed round of financing led by Spartan Group in April.
Ferrum Network
Ferrum Network is an interoperable L1 network developed on Substrate, supported by a multi-chain messaging engine, aiming to communicate and connect with every blockchain.
Glitter Finance
Glitter Finance is a cross-chain ecosystem, including Glitter USDC cross-chain trading, Glitter token cross-chain bridge, as well as cross-chain arbitrage and liquidation bots, and cross-chain liquidity as a service layer. Other tools include an SDK for cross-chain development.
Gravity Bridge
Gravity Bridge is a trustless cross-chain bridge between the Ethereum and Cosmos ecosystems, built using the Cosmos SDK. It uses a set of validators to sign transactions, rather than multisig or permissioned participant sets.
Router Protocol
Router Protocol is a secure, scalable, modular, and composable cross-chain interoperability protocol.
Swing
Swing is a cross-chain liquidity protocol that integrates liquidity from multiple cross-chain bridges and DEXs, allowing developers to provide cross-chain trading functionality on its platform. Swing completed a $6 million financing led by Republic Capital in January last year, and announced the launch of SwingPlatform, a no-code product aimed at facilitating the deployment of cross-chain applications in March this year.
Development Tools
ChainIDE
ChainIDE is a multi-chain smart contract integrated development environment that supports debugging, testing, and deployment of smart contracts on consortium chains and public chains.
Agoric
Agoric is a platform developed based on the Cosmos SDK for secure programming of smart contracts, providing a convenient development environment for developers using JavaScript to develop DApps. Agoric completed a $4 million financing in 2019 and a $32 million token private financing led by Polychain and others in November 2021.
Andromeda
Andromeda has launched a cross-chain composable on-chain operating system aOS, providing a basic functional set of applications through tools such as the Andromeda app store to help developers shorten the time for application development.
Hamster
Hamster is a one-stop toolkit and middleware platform for Web3 developers.
Lit Protocol
Lit Protocol is a distributed encryption technology for encrypted, computational, and programmable signatures. As a general key management layer, Lit provides developers with a comprehensive toolkit for managing sovereign identities on open networks. Lit Protocol provides two core services for developers: encryption and access control, and programmable signatures.
On & Off Ramp
Transak
Transak is a Web3 payment and fiat aggregator that allows users to purchase cryptocurrencies using fiat currency. Transak announced the completion of a $20 million Series A financing led by CE Innovation Capital in May this year.
Kado
Kado is a cryptocurrency-to-fiat trading platform and DEX aggregator.
Payfura
Payfura is a cryptocurrency-to-fiat payment gateway, allowing users to directly purchase cryptocurrencies using fiat currency through Payfura's services, or sell cryptocurrencies for fiat currency. Payfura has received investment from Y Combinator.
Utorg
Utorg is a cryptocurrency on-ramp solution that allows users to purchase supported cryptocurrencies using fiat currency.
Others
Hana
Hana Network is a privacy Layer 0 protocol that enables on-chain privacy on existing chains and any asset, including Bitcoin. Hana primarily includes a privacy computing layer based on multi-asset zk-UTXO, a cross-chain protocol connecting Layer 0 with other chains, and an SDK that can be integrated into any DApp and wallet to add privacy options.
SPACE ID
SPACE ID is a decentralized multi-chain domain name protocol currently supporting .bnb and .arb domains. SPACE ID received seed financing led by Binance Labs in September last year, and a $10 million strategic financing led by Polychain Capital and dao5 in February this year.
Kargo
Kargo is a prediction market infrastructure described by Sei as "Layer 1.5" on Sei, with its base layer contracts serving as modular infrastructure to help developers launch prediction markets.
KYVE
KYVE is a Web3 data storage protocol, serving as Sei's data flow and storage solution. KYVE allows blockchain data to be permanently stored on the Arweave decentralized storage network (DSN), verifying and storing public data from Sei.
Nitro
Nitro is a Solana Layer 2 network that acts as a gateway between the Solana and Cosmos ecosystems, and is also compatible with Sealevel Virtual Machine (SVM). Nitro is developed by Sei Labs.
Paddle
Paddle is a Move Virtual Machine Rollup network built on Sei, providing a sandbox environment for deploying smart contracts written in Move, with interoperability with IBC chains.
Skip Protocol
Skip Protocol is a provider of MEV infrastructure on Cosmos, offering the Block SDK to establish a block space market and the Skip API, allowing one-click cross-chain token trading and transfer between any networks in Cosmos. Skip Protocol completed a $6.5 million seed financing led by Bain Capital Crypto in September last year.
DeFi
DeFi projects in the Sei ecosystem include SushiSwap, Vortex which was acquired by SushiSwap in February this year, Crescent which initially aimed to be the liquidity hub for Cosmos but was later replaced by Osmosis, and Stride, a liquidity staking project in the Cosmos ecosystem. Other DeFi projects include:
Aether Protocol
Aether Protocol is a lending protocol on Sei, currently in the testing phase and not yet live. Users can try out lending for Bitcoin, Ethereum, USDT, and USDC in the test version. Aether uses PythNetwork as an oracle.
Apollo DAO
Apollo DAO was originally a yield aggregator in the Terra ecosystem, but is now positioned as a yield aggregator in the Cosmos ecosystem and a community-driven investment DAO. Apollo DAO currently offers Vaults based on protocols such as Osmosis and Mars Protocol, with Vaults' TVL exceeding $15 million. Additionally, Apollo DAO currently has a "War Chest" fund of nearly $1.02 million for external investments, with projects already invested in including Retrograde, an income acceleration and governance protocol based on Terra.
Apollo DAO announced the completion of a $2.2 million financing round in September 2021, with participation from Pantera Capital, Terra co-founder Do Kwon, GSR Markets, and others.
Arkis
Arkis supports under-collateralized leverage protocols, allowing users to use their multi-chain DeFi investment portfolios as collateral as a whole and engage in leveraged trading through borrowing. Arkis is currently in the testing phase and requires users to apply for testing qualifications.
Astroport
Astroport was initially positioned as a DEX in the Terra ecosystem, jointly developed by Terraform Labs, Delphi Labs, and Attic Lab. Its spot trading market model is inspired by Bancor and Uniswap, while its stablecoin trading market model is inspired by Curve. Astroport currently supports mainnets including Terra 2.0, Injective, Neutron, and Sei.
Black Panther
Black Panther is an asset management protocol where users can deposit supported assets and stablecoins into the protocol, which will then trade on DEXs in the Cosmos ecosystem (including Astroport and White Whale) through specific strategies to generate profits. Black Panther currently supports Terra and Injective, but the short-term effectiveness of the project's strategies is not clear from actual data, and users interested in participating need to manage risks.
Bril Finance
Bril Finance is an asset management protocol in the Sei ecosystem, allowing users to deposit Sei ecosystem assets and earn returns through the protocol's strategies.
Coded Estate
Coded Estate is an RWA protocol built on Sei, aiming to establish an on-chain real estate market, helping users handle property ownership or leasing through dynamic NFTs, zero-knowledge proof smart contracts, and more.
Copycat Finance
Copycat Finance is a copy trading platform that has been launched on the BNB Chain. Users can choose strategies to follow on the platform and deposit funds to automatically follow the corresponding strategies. Additionally, Copycat Finance allows users to follow liquidity mining strategies.
Cypher Protocol
Cypher Protocol is a spot and derivatives trading platform that uses an on-chain order book model. Cypher allows users to manage trader positions using sub-accounts, with a single main account managing up to 24 sub-accounts and a maximum of 1105 positions across all sub-accounts, with the ability to cross-margin or isolate margin in each account.
DeFund
DeFund is a cross-chain decentralized ETF protocol developed using the Cosmos SDK, and is also an L1 blockchain in the Cosmos ecosystem. It aims to establish decentralized, permissionless on-chain trading strategies and package these strategies into dETF (decentralized exchange-traded fund) tokens.
Elixir
Elixir is a market maker protocol that allows anyone to participate in centralized and decentralized exchange market making through a decentralized protocol, providing liquidity for long-tail assets. Elixir announced the completion of a $2.1 million seed financing in January this year, with investors including FalconX, Commonwealth, OP Crypto, ChapterOne, and BitMEX founder Arthur Hayes.
Entangle Protocol
Entangle Protocol is a cross-chain liquidity protocol where users can stake LP tokens obtained after adding liquidity into Entangle. Entangle provides users with liquidity staking tokens for LP tokens, releasing locked liquidity. The liquidity staking tokens for LP tokens allow users to release liquidity on any supported chain.
Firepot
Firepot is not exactly a "pure" DeFi protocol, but more like an "investment advisor." Firepot uses AI to help users customize investment strategies based on their risk preferences, and the application automatically executes the corresponding strategies, while users retain control over their assets.
Fuzio
Fuzio is a comprehensive DeFi platform on Sei, aiming to provide a gamified DeFi experience. Fuzio offers decentralized prediction markets, DEX, Launchpad, and liquidity staking services, but currently only the DEX functionality has been developed.
Kawa
Kawa is a lending protocol that supports cross-chain borrowing using assets from multiple chains as collateral, but has not yet been launched.
Kryptonite
Kryptonite is a liquidity staking protocol where users can stake Sei Network token SEI and receive liquidity staking token bSEI, which can then be used as collateral to mint stablecoin kUSD at a 200% collateral ratio.
Leonicorn
Leonicorn is a decentralized trading platform that offers AMM, order book model spot trading, and perpetual contract trading. Leonicorn supports networks including Aptos, Sui, Core DAO, BNB Chain, OKT Chain, and Sei Network.
Levana
Levana is a perpetual contract trading platform on Sei, supporting up to 30x leverage. Currently, Levana supports leveraged contract trading for assets including BTC, ETH, ATOM, and OSMO.
LFW.Fi
LFW.Fi is a cross-chain trading aggregator that supports trading of assets on 16 EVM-compatible public chains, including Ethereum. The platform currently does not support Sei Network.
Pharaoh Protocol
Pharaoh Protocol is a synthetic asset protocol built on Sei. According to the project's Twitter introduction, Pharaoh Protocol offers trading of traditional assets such as commodities and forex, which can be price-fed by oracles, and perpetual contract trading markets provided by Vortex. The project currently does not have official website information.
Satori
Satori is an on-chain derivatives protocol that allows users to engage in perpetual contract trading of Satori-supported assets with up to 25x leverage. Currently, Satori supports Polygon zkEVM, zkSync, and Scroll testnets, but does not support Sei. Satori announced the completion of a $10 million financing round led by Polychain and Blockchange in May 2022.
Sea Swap
Sea Swap is a DEX on Sei. The project is still in the early stages, with a total TVL of only a few thousand dollars.
SenSei
SenSei is a gamified DeFi project that supports users to stake SEI or stablecoins. The protocol distributes the staking rewards from staked SEI and the earnings from providing stablecoins to other DeFi protocols to the staked users. A highlight of the project is that a portion of the earnings is allocated to a "lottery," meaning user earnings may not always directly match their share, and winning users may receive rewards far higher than their expected earnings.
Simba Exchange
Simba Exchange is a self-custody order book trading platform on Sei, with features such as front-running protection.
stabble
stabble is a cross-chain DEX protocol, originally named SOLA-X and built on Solana. stabble currently has not launched on Sei, but will focus on cross-chain liquidity between Solana and the Cosmos ecosystem in the future. Features of stabble include intelligent routing that balances liquidity across multiple pools, intelligent order execution that splits orders when slippage exceeds 0.2%, and the platform's own arbitrage strategies to prevent malicious arbitrage attacks.
Sparrowswap
Sparrowswap is a DEX on Sei, currently only open on the testnet.
SYNTHR
SYNTHR is a full-chain synthetic asset protocol that supports Ethereum, BNB Chain, Arbitrum, and Sei Network. Similar to early Synthetix, users can collateralize high-liquidity assets such as ETH, USDC, and USDT to mint synthetic assets syAssest, and trade them through the protocol's built-in slippage-free trading platform SynthSwap and other synthetic assets.
UNO.farm
UNO.farm is a yield aggregator that generates returns from DeFi through specific strategies such as liquidity mining using the assets deposited by users. UNO currently supports Polygon, BNB Chain, Aurora, and Avalanche, but does not support Sei Network.
UnUniFi
UnUniFi is a yield aggregator that allows users to maximize returns by automatically moving funds to various DeFi protocols and optimized yield generation strategies. UnUniFi Protocol completed a $1.5 million seed financing round led by gumi Cryptos Capital in December last year. At that time, UnUniFi Protocol was positioned as an NFT lending protocol, but the NFT lending functionality is not yet live.
UXD
UXD Protocol was originally an algorithmic stablecoin protocol in the Solana ecosystem, and announced in September last year that it would be launching on Sei Network. UXD allows users to mint stablecoin UXD using USDC. UXD Protocol completed a $3 million financing round led by Multicoin Capital in September 2021.
Convergence
Convergence is a quote request protocol that provides bidirectional quotes for buying, selling, and multi-structured assets, including spot and options contracts. Traders can access various counterparties and trade with them in Convergence without needing to provide full collateral for the complete position.
Eclipse Fi
Eclipse Fi is a modular token issuance solution on Sei, allowing projects to customize token issuance solutions using modules such as auctions, locking, LBA, and IDO.
White Whale
White Whale is a liquidity protocol in the Cosmos ecosystem, and is also a Layer 1 blockchain itself.
NFT & Metaverse
Dego Finance
Dego Finance is a cross-chain NFT + DeFi protocol and infrastructure, aiming to explore the functionality and financialization of NFTs, including NFT creation, mining, trading, auctions, and DeFi applications. Dego Finance launched on Binance's Launchpad in early 2021.
Dagora
Dagora is a multi-chain NFT marketplace in the Coin98 ecosystem, supporting BNB Chain, Polygon, Sei, and others. Dagora's features include Marketplace (NFT trading market), Launchpad (NFT release platform), and Hot Drops (free minting section). Additionally, C98 token holders can participate in various activities such as auctions, Launchpad, and Hot Drops.
dropspace is a self-service NFT minting platform, with products including the NFT rarity query platform rarityspace and NFT minting tools. The tool currently supports Ethereum, Polygon, Base, and BNB Chain.
Duck Club
Duck Club is an NFT series on the Sei Network, aiming to build a Web3 community. In August of this year, Duck Club announced plans to establish a comic brand.
Mizu
Mizu is an NFT marketplace on Sei, currently not open for trading.
Pallet Exchange
Pallet Exchange is an NFT trading marketplace on Sei, launched by the Web3 gaming platform Tatami.
Seilors
Seilors is an NFT series on Sei, described as an art-centric project aiming to initiate a movement based on high-quality content.
Gaming
Questify
Questify is a gaming competition platform where users can bet before games and compete with other gamers. Additionally, users can engage in community interactions with other gamers on the platform and bet on DAO rankings in the leaderboard.
Blockus
Blockus is a Web3 gaming platform that provides compliant and seamless wallet-as-a-service products, white-label NFT market, and fiat and cryptocurrency payments for games. Blockus is one of the selected projects in the first batch of the a16z crypto accelerator.
Double Jump
Double Jump is a parkour game built on Sei.
Entice Coin
Entice Coin is a play-to-earn gaming platform where users can earn rewards by competing with other users in mini-games on the platform. The platform is developed on Polygon and announced a partnership with Sei this year, but has not yet launched on Sei.
Fable League
Fable League aims to launch esports leagues on Sei, where DAOs of various NFT projects can participate as teams to increase the visibility of NFT DAOs.
FusyFox
FusyFox is a third-person shooter AAA game that allows players to play and participate in tournaments using their NFT characters or free non-NFT characters. It combines free gaming based on skill and tournament performance with play-to-earn mode.
Gafin
Gafin is a Web3 gaming platform aimed at building a digital community for investors and players and applying virtual economies.
Gelotto
Gelotto is a gaming platform in the Cosmos ecosystem that provides betting games for various IBC assets, including cards, dice, and more.
Mystic Treasure
Mystic Treasure is a decentralized "Learn-and-Earn" RPG adventure game.
Tatami
Tatami is a Web3 gaming distribution platform that provides support for game design and development, acquiring initial users, funding, marketing, and more.
TETRISK
TETRISK is a Tetris game on the Sei Network.
Yolee Universe
Yolee Universe is an open-world game on Sei, offering puzzles, racing, strategy, casual games, and more. Yolee Universe aims to provide services to low-income populations in Africa and Southeast Asia, while creating additional revenue through in-game advertising.
Social
SEER
SEER aims to establish a Web3 community chat tool that connects project teams and users, including application layer, analysis layer, privacy layer, and protocol layer. The application layer supports wallet-DAPP interaction, NFT, on-chain identity DID, SWAP, DAO, and other basic functions; the analysis layer provides AI analysis through nodes and reliable, accurate, and scalable APIs; the privacy layer offers end-to-end encrypted asynchronous communication; the protocol layer uses distributed open protocols for decentralized storage and secure, decentralized, real-time communication standard protocols to ensure the security and validity of server data.
Other
Bounce Finance
Bounce Finance is a decentralized auction platform that has launched the Auction as a Service (AaaS) protocol, simplifying the token issuance process for projects. The AaaS protocol includes decentralized on-chain auction functionality, seamless token creation, LP liquidity management solutions, and Telegram bot services.
Metopia
Metopia is a Web3 contribution platform focused on growth, providing the SBT protocol to capture on-chain contributions and distribute rewards accordingly to the community. Metopia is one of the second-round Web3 social ecosystem funding projects of Mask Network.
WeBump
WeBump is a community of Sei enthusiasts that has developed the NFT toolkit Lighthouse, offering NFT creation, whitelist management, and other functions.
Yosu
Yosu is a task platform where users can participate in incentive activities for various projects supported by Yosu's ecosystem to compete for rankings and earn rewards.
Zealy
Zealy, formerly known as Crew3, is a Web3 task platform where users can earn points by completing tasks offered by different projects on the platform. The platform or projects may reward users based on their task completion. In April of this year, Zealy announced the completion of a $3.5 million Pre-Seed round of funding led by Redalpine.
Humanode
Humanode is an internal project of Paradigm, utilizing a blockchain project based on biometric recognition code consensus mechanism. It aims to achieve the goal of "one person = one node = one vote" to address various known issues in modern cryptoeconomics and governance. Humanode has developed a Layer 1 protocol that defends against Sybil attacks with auditable pseudonymous biometric identities, utilizing decentralized biometric recognition solutions, liveness detection, and encryption technology.
Humanode announced the completion of a $2 million seed round of funding led by Republic Capital in February of last year.
Truts
Truts is a Web3 task platform that provides users with a platform to explore and discover new projects that match their interests, while also allowing projects to provide tasks for users to earn rewards by completing them.
Dmail
Dmail is an AI-driven decentralized infrastructure that provides anonymous messaging and notification services across multiple chains and applications.
Babylon
Babylon is a Bitcoin staking protocol developed on the Cosmos SDK, allowing Bitcoin holders to stake their Bitcoin through Babylon's staking protocol to enhance the security of PoS blockchains and earn rewards.
Campaign
Campaign is a no-code platform for brands and creators to launch user engagement programs, creating personalized rewards for users through data analysis to improve user retention.
Strobe
Strobe is an open protocol for incentivizing validators. Strobe is currently in the beta testing phase and is limited to invited users only.
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