The creators of the Sei (SEI) cryptocurrency have published a blog post about the tokenomics of the project. The team talked about their own blockchain, noting that during its development, special attention was paid to speed, performance and technological innovation. It boasts one of the fastest completion times of any network, as well as higher throughput than any Ethereum-based Rollup.
According to the developers, this was achieved thanks to the technology of parallel processing of transactions, instant completion of blocks and new mechanisms for their efficient distribution and processing. Sei provides an infrastructure that allows anyone with Internet access to interact with Web3 applications at high speed. Thus, this cryptocurrency greatly improves efficiency.
The Sei blockchain operates as a decentralized blockchain based on the Proof-of-Stake algorithm, and the SEI token performs several functions on the network. It is needed to pay transaction fees, to stake a DPoS validator, to participate in voting on the future governance of the protocol. It can also be used as asset liquidity or application collateral.
In addition, users can tip validators to prioritize transactions. SEI can also be used as fees for exchanges built on the Sei blockchain. The total number of tokens is limited to 10 billion.
The majority of SEI tokens (51%) were allocated to the community in the following way. The ecosystem reserve is 48%. They are dedicated to maintaining the network. This includes the following:
Staking rewards.
ecosystem initiatives.
Airdrops and promotions.
Foundation Treasury.
Startpool.