Sei Ecosystem Review What ‘New Things’ are Being Created on L1 for Trading?

Sei Ecosystem Review Innovations on L1 Trading

There are some innovative projects on the “Sei Network” as a “new new public chain”.

Author: Babywhale, Foresight News

When it comes to star projects in the Cosmos ecosystem, Sei is at the forefront. 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 participants including Coinbase Ventures, GSR, Flow Traders, and other institutions closely related to trading. Just one month later, Sei announced the launch of a $50 million ecological fund, which later expanded to $120 million with the support of institutions such as Bitget and Foresight Ventures.

In April of this year, Sei Network completed a financing of $30 million with a valuation of $800 million, doubling the valuation of $400 million obtained from informed sources by The Block. In addition to the seed round investors, new investors such as Foresight Ventures, OKX Ventures, Jump Capital, and Bixin Ventures have also joined.

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With the financing of the project itself and the fundraising of the ecological fund, Sei’s total financing amount has exceeded $150 million, which should be a leader in the Cosmos ecosystem. And this star project that “attracts countless heroes” also went live on the mainnet last month. What are the trading opportunities worth trying on this public chain focused on “trading” and founded by members of traditional financial institutions?

Infrastructure Wallet

The wallets that support Sei Network include comprehensive wallets such as Bitget Wallet, Coin98, XDEFI Wallet, as well as dedicated wallets for Cosmos ecosystem or Sei Network such as ComLianGuaiss, 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. Band Protocol has integrated with Axelar, and DApps running on more than 40 interconnected blockchains supported by the Axelar network can access Band’s off-chain data service suite. This integration will provide decentralized connectivity and cross-chain interoperability between EVM and the Cosmos ecosystem.

Pyth Network

Pyth Network was originally an oracle in the Solana ecosystem and has expanded to multiple chain ecosystems.

4EVERLAND

4EVERLAND is a Web 3 cloud computing platform that integrates storage, computing, and networking, aiming to become the infrastructure for Web 3 developers and applications.

Flipside

Flipside is a blockchain data analysis platform that announced a $50 million financing led by Republic Capital at a valuation of $350 million in April last year.

SubQuery

SubQuery is a data indexing tool that originally focused on the Polkadot ecosystem and has expanded to multiple chains. SubQuery received investment from EMURGO Ventures, a subsidiary of EMURGO, the official commercial arm of Cardano, in November last year.

Cross-Chain

The cross-chain infrastructure that supports the Sei Network includes Axelar Network, Celer, and Wormhole. Other projects include:

Catalyst

Catalyst provides liquidity between modular blockchains. Any new modular blockchain network can automatically connect liquidity and exchange liquidity with any blockchain, including Ethereum and Cosmos liquidity hubs. Catalyst completed a $4.2 million seed round led by SLianGuairtan Group in April.

Ferrum Network

Ferrum Network is an interoperable L1 network built on Substrate, supported by a multi-chain messaging engine, designed to communicate and connect with every blockchain.

Glitter Finance

Glitter Finance is a cross-chain ecosystem that includes Glitter USDC cross-chain trading, Glitter token cross-chain bridge, Glitter cross-chain arbitrage and liquidation robots, and a 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 Cosmos SDK. It uses a validator set to sign transactions instead of a multi-signature or permissioned participant set.

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 offer cross-chain trading functionality on their platforms. Swing completed a $6 million funding round led by Republic Capital in January last year and announced the launch of the no-code product Swing Platform for easy 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 built on Cosmos SDK for secure programming of smart contracts, providing a convenient development environment for developers using JavaScript to develop DApps. Agoric raised $4 million in funding in 2019 and completed a $32 million token private placement financing led by Polychain and others in November 2021.

Andromeda

Andromeda has launched a cross-chain composable on-chain operating system called aOS, which provides a basic set of functions for applications through tools such as the Andromeda App Store, helping developers shorten application development time.

Hamster

Hamster is an all-in-one toolkit and middleware platform for Web3 developers.

Lit Protocol

Lit Protocol is a distributed cryptographic technology for encryption, computation, and programmable signatures. As a universal key management layer, Lit provides developers with a comprehensive toolkit for managing sovereign identities on the open network. Lit Protocol offers two core services to 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 currencies. Transak announced in May this year that it has completed a $20 million Series A funding round led by CE Innovation Capital.

Kado

Kado is a cryptocurrency and fiat trading platform and DEX aggregator.

LianGuaiyfura

LianGuaiyfura is a payment gateway for cryptocurrencies and fiat currencies, allowing users to directly purchase cryptocurrencies using fiat currencies through its services, or sell cryptocurrencies for fiat currencies. LianGuaiyfura has received investment from Ycombinator.

Utorg

Utorg is a cryptocurrency on-ramp solution that allows users to purchase supported cryptocurrencies using fiat currencies.

Others

Hana

Hana Network is a privacy Layer 0 protocol that enables on-chain privacy on existing chains and any assets including Bitcoin. Hana primarily consists of a privacy computing layer based on multi-asset zk-UTXO, cross-chain protocols connecting Layer 0 with other chains, and an SDK that can be integrated into any DApp and wallet to add privacy options.

SLianGuaiCE ID

SLianGuaiCE ID is a decentralized multi-chain domain name protocol that currently supports .bnb and .arb domains. SLianGuaiCE ID received seed funding from Binance Labs in September last year, followed by a $10 million strategic funding round led by Polychain Capital and dao5 in February this year.

Kargo

Kargo is a prediction market infrastructure described as “Layer 1.5” on Sei. Its underlying layer contracts will serve as modular infrastructure to help developers launch prediction markets.

KYVE

KYVE is a Web3 data storage protocol and has been adopted as Sei’s data streaming and storage solution. KYVE allows blockchain to permanently store data on the Arweave decentralized storage network (DSN), and validate and store public data from Sei.

Nitro

Nitro is a Solana Layer 2 network that serves as a gateway between the Solana and Cosmos ecosystems, and is also an Optimistic Rollup with Sealevel Virtual Machine (SVM) compatibility. Nitro is developed by Sei Labs.

LianGuaiddle

LianGuaiddle is a Move Virtual Machine Rollup network built on Sei, providing a sandbox environment for deploying smart contracts written in Move, and 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, as well as the Skip API that allows for one-click cross-chain token trading and transfers between any networks within Cosmos. Skip Protocol completed a $6.5 million seed funding round led by Bain Capital Crypto in September last year.

DeFi

DeFi projects that are relatively well-known in the Sei ecosystem include SushiSwap, Vortex which was announced to be acquired by SushiSwap in February of this year, Crescent which initially aimed to be the liquidity center of 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 that is currently in the testing phase and has not yet been launched on the mainnet. Users can try out the lending functionality for Bitcoin, Ethereum, USDT, and USDC in the test version. Aether uses Pyth Network as an oracle.

Apollo DAO

Apollo DAO was originally a yield aggregator in the Terra ecosystem, but it is now positioned as a yield aggregator and community-driven investment DAO in the Cosmos ecosystem. Apollo DAO currently offers Vaults based on protocols such as Osmosis and Mars Protocol, with a TVL of over $15 million. In addition, Apollo DAO currently has nearly $1.02 million in “War Chest” funds for external investments, and projects that have already been invested in include Retrograde, a yield 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 LianGuaintera Capital, co-founder of Terra Do Kwon, GSR Markets, and others.

Arkis

Arkis is a leverage protocol that supports undercollateralized borrowing. Users can use their DeFi investment portfolios across multiple chains as collateral and achieve leveraged trading through borrowing. Arkis is currently in the testing phase and users need to apply for testing qualification on their own.

Astroport

Astroport was originally positioned as a DEX in the Terra ecosystem, jointly developed by Terraform Labs, Delphi Labs, and Attic Lab. The spot trading market model of Astroport is based on Bancor and Uniswap, and the stablecoin trading market model is based on Curve. Currently, Astroport supports mainnets including Terra 2.0, Injective, Neutron, and Sei.

Black LianGuainther

Black LianGuainther is an asset management protocol where users can deposit supported assets and stablecoins into the protocol, which will trade in the DEXes (including Astroport and White Whale) in the Cosmos ecosystem through specific strategies to generate profits. Currently, Black LianGuainther supports Terra and Injective, but the short-term effectiveness of the project’s strategies is not obvious based on actual data, so users who want to participate need to manage risks.

Bril Finance

Bril Finance is an asset management protocol in the Sei ecosystem where users can deposit Sei ecosystem assets and earn profits through the protocol’s strategies.

Coded Estate

Coded Estate is an RWA protocol built on Sei that aims to establish an on-chain real estate market and help users manage 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 already launched on the BNB Chain. Users can choose strategies to follow on the platform and deposit funds to automatically follow the corresponding strategies. In addition, Copycat Finance also allows users to follow liquidity mining strategies.

Cypher Protocol

Cypher Protocol is a spot and derivatives trading platform that adopts an on-chain order book model. Cypher allows users to manage trader positions using sub-accounts, which are managed by a single master account. Traders can have up to 1,105 positions in 24 sub-accounts and can cross or isolate margin in each account.

DeFund

DeFund is a cross-chain decentralized ETF protocol developed using the Cosmos SDK. It is also an L1 blockchain in the Cosmos ecosystem. Its aim is to establish decentralized, permissionless on-chain trading strategies and package these strategies into dETF (decentralized exchange-traded fund) tokens.

Elixir

Elixir is a market-making protocol that aims to enable anyone to participate in market-making on centralized and decentralized exchanges through a decentralized protocol. It provides liquidity for long-tail assets. Elixir announced the completion of a $2.1 million seed round of financing in January this year, with participants including FalconX, Commonwealth, OP Crypto, ChapterOne, and BitMEX founder Arthur Hayes.

Entangle Protocol

Entangle Protocol is a cross-chain liquidity protocol. Users can stake LP tokens obtained after adding liquidity into Entangle. Entangle provides liquidity staking tokens for LP tokens and unlocks locked liquidity. Liquidity staking tokens for LP tokens allow users to unlock liquidity on any supported chain.

Firepot

Firepot cannot be considered as a “native” DeFi protocol but more like an “investment advisor”. Firepot uses AI to help users customize investment plans based on their risk preferences and automatically executes corresponding strategies through the application, but users always retain control over their assets.

Fuzio

Fuzio is a comprehensive DeFi platform on Sei that aims to provide a gamified DeFi experience. Fuzio offers decentralized prediction markets, DEX, LaunchLianGuaid, and liquidity staking services, but currently only the DEX feature has been developed.

Kawa

Kawa is a lending protocol that supports cross-chain lending with assets on multiple chains as collateral. It has not been launched yet.

Kryptonite

Kryptonite is a liquidity staking protocol. Users can stake Sei Network token SEI and obtain liquidity staking tokens bSEI, which can then be used as collateral to mint stablecoin kUSD with a collateralization rate of 200%.

Leonicorn

Leonicorn is a decentralized trading platform that offers AMM, spot trading with an order book model, 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 that supports a maximum leverage of 30x. Currently, Levana supports leverage contract trading for BTC, ETH, ATOM, and OSMO.

LFW.Fi

LFW.Fi is a cross-chain transaction aggregator that supports the trading of assets on 16 compatible EVM-based public chains, including Ethereum. Currently, the platform 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 enables trading of traditional assets such as commodities and forex, which can be price-fed by oracles, and provides perpetual contract trading markets through Vortex. Currently, there is no official website information available for this project.

Satori

Satori is an on-chain derivatives protocol that allows users to trade Satori-supported assets with up to 25x leverage in perpetual contracts. Currently, Satori supports Polygon zkEVM, zkSync, and Scroll testnets, but does not support Sei. Satori announced a $10 million funding round led by Polychain and Blockchange in May 2022.

Sea Swap

Sea Swap is a DEX on Sei. Currently, the project is still in its early stages, with a total value locked (TVL) of only a few thousand dollars.

SenSei

SenSei is a gamified DeFi project that allows users to stake SEI or stablecoins. The protocol distributes the staking rewards of SEI and the yield obtained from providing stablecoins to other DeFi protocols to the staked users. The highlight of this project is that a portion of the earnings will be allocated to a “lottery,” meaning that the user’s earnings will not always match their share, and winning users may receive rewards that exceed 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 known as SOLA-X and built on Solana. stabble is currently not available on Sei but will focus on cross-chain liquidity between Solana and Cosmos ecosystems in the future. The features of stabble include smart routing that balances liquidity across multiple liquidity pools, smart order execution that splits orders when slippage exceeds 0.2%, and a platform-run arbitrage strategy to prevent malicious arbitrage attacks.

SLianGuairrowswap

SLianGuairrowswap is a DEX on Sei that is currently only available on the testnet.

SYNTHR

SYNTHR is a full-chain synthetic asset protocol that supports Ethereum, BNB Chain, Arbitrum, and also includes Sei Network. SYNTHR’s mechanism is similar to early Synthetix, where users can collateralize high-liquidity assets such as ETH, USDC, and USDT to mint synthetic assets called syAssets and trade them on the protocol’s built-in no-slippage trading platform, SynthSwap, and other synthetic assets.

UNO.farm

UNO.farm is a yield aggregator that generates yield for users’ deposited assets through liquidity mining and other strategies in DeFi. UNO currently supports Polygon, BNB Chain, Aurora, and Avalanche, but does not support Sei Network at the moment.

UnUniFi

UnUniFi is a yield aggregator that allows users to maximize their returns by automatically moving funds to various DeFi protocols and optimized yield generation strategies. UnUniFi Protocol completed a $1.5 million seed 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 feature is currently not yet live.

UXD

UXD Protocol was originally an algorithmic stablecoin protocol in the Solana ecosystem and announced its integration with Sei Network in September last year. UXD allows users to mint stablecoin UXD using USDC. UXD Protocol completed a $3 million funding round led by Multicoin Capital in September 2021.

Convergence

Convergence is a quote request protocol that provides bid and ask quotes in both directions, including spot and options contracts. Traders can access various counterparties and transact with them in Convergence. In Convergence, Makers and Takers can trade without having to provide full collateral for the entire position.

Eclipse Fi

Eclipse Fi is a modular token issuance solution on Sei, allowing projects to customize token issuance solutions with modules such as auctions, lockups, 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 that aims to explore the functionality and financial aspects of NFTs, including NFT creation, mining, trading, auctioning, and DeFi applications. Dego Finance launched on Binance’s Launchpool in early 2021.

Dagora

Dagora is a multi-chain NFT marketplace in the Coin98 ecosystem, supporting BNB Chain, Polygon, Sei, and other chains. Dagora’s features include Marketplace (NFT trading platform), Launchpool (NFT launch platform), and Hot Drops (free minting section). In addition, Dagora allows C98 token holders to participate in auctions, Launchpool, Hot Drops, and various activities.

dropsLianGuaice

dropsLianGuaice is a self-service NFT minting platform that includes the raritysLianGuaice platform for NFT rarity queries and NFT minting tools. The current version of the tool supports Ethereum, Polygon, Base, and BNB Chain.

Duck Club

Duck Club is an NFT series on Sei Network aimed at building a Web3 community. In August this year, Duck Club announced plans to establish a comic brand.

Mizu

Mizu is an NFT marketplace on Sei that currently does not have trading market functionality.

LianGuaillet Exchange

LianGuaillet Exchange is an NFT trading market on Sei launched by the Web3 gaming platform Tatami.

Seilors

Seilors is an NFT series on Sei. Seilors describes itself as an art-centric project that aims to initiate a movement based on high-quality content.

Game Questify

Questify is a gaming platform where users can bet before the game and compete with other gamers. Additionally, users can communicate with other gamers in the community on the platform, as well as bet on rankings in the DAO leaderboard, and more.

Blockus

Blockus is a Web3 gaming platform that provides compliant and seamlessly integrated 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 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 based on Polygon and announced its partnership with Sei this year but has not yet gone live on Sei.

Fable League

Fable League aims to launch esports leagues on Sei, where DAOs of various NFT projects can participate as teams to enhance 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 basic non-NFT characters. It combines free games and play-to-earn mode based on skills and tournament performance.

Gafin

Gafin is a Web3 gaming platform that aims to build a digital community and apply virtual economy for investors and players.

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 game 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 that offers puzzle solving, racing, strategy, casual games, and more. Yolee Universe aims to serve low-income populations in Africa and Southeast Asia and generate additional income through in-game advertising.

Social SEER

SEER aims to build a Web3 community chat tool that connects project parties with users, including application layer, analysis layer, privacy layer, and protocol layer. The application layer can support the interaction between wallets and DAPPs, and realize basic functions such as NFT, on-chain identity DID, SWAP, and DAO; the analysis layer conducts AI analysis through nodes and provides reliable, accurate, and scalable APIs; the privacy layer provides end-to-end encrypted asynchronous communication; the protocol layer adopts distributed open protocols to achieve decentralized storage and uses secure, decentralized, real-time communication standard protocols to ensure the security and validity of server data.

Others

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 functionality, LP liquidity management solutions, and Telegram bot services.

Metopia

Metopia is a growth-focused Web3 contribution platform that provides the SBT protocol for communities to capture on-chain contributions and allocate rewards accordingly. Metopia is one of the second-round Web3 social ecosystem funding projects of Mask Network.

WeBump

WeBump is a community of SEER enthusiasts that has developed the NFT toolkit Lighthouse, which provides functions such as NFT creation and whitelist management.

Yosu

Yosu is a task platform where users can participate in incentive activities for various projects supported by Yosu 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 provided by different projects on the platform. The platform or project may provide corresponding rewards based on the user’s task completion. In April of this year, Zealy announced that it had completed a $3.5 million Pre-Seed round of financing led by Redalpine.

Humanode

Humanode is an internal project of LianGuairadigm, a blockchain project that utilizes a consensus mechanism based on biometric identification codes. Its goal is to achieve the goal of “one person = one node = one vote” to solve various known problems in modern cryptoeconomics and governance. Humanode has developed a Layer 1 protocol that uses auditable pseudonymous biometric identities to resist Sybil attacks, which adopts decentralized biometric identification solutions, live detection, and encryption technology.

In February of last year, Humanode announced that it had completed a $2 million seed round of financing led by Republic Capital.

Truts

Truts is a Web3 task platform that provides users with a platform to explore and find new projects that match their interests, and also allows projects to provide tasks for users to earn rewards by completing them.

Dmail

Dmail is a decentralized infrastructure driven by artificial intelligence, providing anonymous messaging and notification services across multiple chains and applications.

Babylon

Babylon is a Bitcoin staking protocol developed based on Cosmos SDK, allowing Bitcoin holders to stake Bitcoin through the Babylon staking protocol to improve the security of PoS blockchains and earn rewards.

CamLianGuaiign

CamLianGuaiign 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 only available to invited users.

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