Every great business idea needs financial support to become a reality, otherwise, it stays just a dream. And while many players go off the stage because of crisis and all the other reasons, some big players come in. This kind of natural “workflow”: is a hard lesson for some and a great opportunity for others.

One of the new players is Sei Network - the first layer 1 blockchain, designed for trading. The Guys came on the stage pretty loud and impressive. This can be seen very clearly below - results achieved in 2 months:

And now Sei Network has launched a $50 million ecosystem and liquidity fund to support new decentralized finance (DeFi) applications on its platform.

Jeff Feng, Co-Founder of Sei Network said:

“Ecosystem-wise, if you think about all of crypto, especially on-chain applications, only a few apps have gotten actual product market fit. Everything else is super, super early despite what valuations they have. Solana effectively is like a Series C startup with a huge valuation.”

Jay Jog, Co-Founder mentioned that:

“Most exchanges have smart contracts on top of layer-1 blockchains, so if you’re trying to improve the performance of the exchange you can’t really do anything about layer-1. In our case, we added an order matching engine into the layer-1, which substantially improves performance and exchange experience.”

So far, Sei hasn’t spent any money on ecosystem grants, but the new fund will grow its ecosystem and incentivize “good founders” to come in and build applications on its blockchain.

“It’s a generational time to build,” Feng said. “When you think about crypto from a risk-reward perspective. If you look back to 2017 or 2018, it was really risky. There weren’t real applications or a lot of capital, it was a much bigger swing in the dark.”

So, the fund, announced is created to support the development of new apps on Sei and help teams bootstrap liquidity going into mainnet launch. The fund serves to rapidly accelerate the institutional adoption of decentralized finance.

By the end of August Sei has partnered with “some of the most respected founders and institutions in the world to drive forward the same mission: build the best layer 1 for financial applications” Multicoin Capital, Delphi Digital, Hudson River Trading, GSR, Flow Traders, MEXC, Kronos, Hypersphere and several others. This founding round led by Multicoin Capital brought $5 million.

“This is a generational time to build in crypto. Much of the industry has been de-risked from an adoption and capital perspective, yet we’re still early enough where there is a meaningful opportunity to make a dent. Once all the noise has subsided, we want the Sei Eco Fund to highlight the best and brightest teams,” said Jay Jog.

“The vision of the Sei Eco Fund is simple: back the next generation of disruptive DeFi teams and enable what cannot be done on any other Layer 1,” said Jeff Feng, Co-Founder of Sei.

Summarizing all of the above, the value of Sei Network is obvious. The guys offer the Cosmos ecosystem the best solution for DEX, transferring the benefits from centralized exchanges to a decentralized way. By having oracle modules and combining order books from all decentralized exchanges, we will get more liquidity, a fair price, and trading security. Combine all this with the holy of holies of all Cosmos projects — IBC and we will get penny transaction fees and fast block completion. The fast growth of Sei Network with a highly intelligent approach and a “door-opener” philosophy makes the market “sharks” join the whale, and this is just the beginning of something never seen before.

Useful links:

For teams interested in the Sei Eco Fund: Apply Here

Website: https://www.seinetwork.io/

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Telegram: https://t.me/seinetwork