(MENAFN- CoinXposure)
Significantly, Bitfinex has announced its intention to list SEI, the native token of the open-source layer-1 blockchain Sei Network.
This action establishes Bitfinex as one of the first exchanges to list this anxiously anticipated token.
The Sei Network, which debuted in 2022, introduces a new paradigm for trading app infrastructure. Sei is tailor-made for trading and caters to various categories, including NFT marketplaces , gaming decentralized exchanges (DEXs), and DeFi DEXs.
The unique Twin-Turbo Consensus mechanism is what makes the Sei Network exceptional.
This inventive strategy enables the network to process an astounding 22,000 orders per second with a transactional completion time of only 600 milliseconds.
This unprecedented speed makes Sei one of the quickest available blockchains .
With the addition of an order-matching engine, Sei ensures the scalability of trading applications, providing traders with a seamless and uninterrupted experience across multiple exchanges.
The eagerly awaited SEI token is the core of the Sei Network. As a utility token, SEI enables the payment of blockchain networks and transaction fees.
In addition to this practical function, SEI token holders can participate in future protocol governance decisions.
Bitfinex's Head of Tokens, Henry Child, recognizes the potential of the Sei Network, stating,“The Sei Network's impressive speed and operability designed expressly for trading bodes well for the future of decentralized finance. We are delighted to add SEI to the diverse and extensive list of available tokens on our exchange.”
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Behind the Sei Network is a team of experts from prestigious institutions such as Goldman Sachs, google, robinhood, nvidia , and Databricks.
In April of this year, the company made headlines by securing $30 million in funding over two phases, boosting its valuation to an impressive $800 million.
Jump, Distributed Global, Multicoin, Asymmetric, Flow Traders, Hypersphere, and Bixin Ventures are essential investors.
Bitfinex is prepared to launch the SEI token. SEI deposits will open on August 15 at approximately 10:00 a.m. UTC, followed by SEI transactions at about noon UTC on the same day.
The US Dollar (USD) and Tether (USDt) will be available as trading pairs .