Actually, 90% of public blockchains fail at the 'no users' stage. No matter how good the product is, if users can’t come in, it’s all for nothing. This is the paradox of the crypto industry: we have the fastest chains, the coolest protocols, the sexiest narratives, But when regular people want to give it a try? Sorry, you’ll need to download a wallet, find a bridge, cross-chain, swap for gas, etc. Nine out of ten people give up at the first step. So I’m increasingly convinced that the endgame of public blockchain competition isn’t about who’s faster, but who has the lowest barrier to entry. Just took a look at Sei’s Distribution & Access System, which aims to solve this problem. Last year, they already started paving the way with exchanges. OKX and Bitget cover 90 million users. Coinbase and Robinhood reach 130 million users in the U.S. Korea’s Upbit holds 80% of the market share, with 16 million crypto holders. Hong Kong’s OSL is the first licensed exchange. Fiat on-ramp, usable on day one. MoonPay and Transak are already integrated, covering 160+ countries. Brazilian users can use Pix, UK users have Faster Payments, and U.S. users can directly transfer via bank. No need to wait for integration, no need for partnerships—deploy and it’s ready to go. The wallet layer is even more interesting. MetaMask’s 30 million monthly active users are directly supported. What’s really intriguing is Crossmint and Sphere—email login, credit card payments, stablecoin settlements—users don’t even need to know they’re using blockchain. This is the real moat: 200 million exchange users, 30 million wallet users, 160 fiat channels—all ready to go. For financial infrastructure, distribution is the lifeblood. Technology can be copied, but distribution channels can’t. @SeiNetwork