Welcome! Another year, another layer 1 blockchain to explore. Let’s get right to it:
SEI is a layer 1 blockchain designed to trade and exchange digital assets. One of the main reasons SEI stands out is the ability for developers to run smart contracts concurrently on SEI, known as parallel execution.
Parallel execution works by defining resources (external data feeds, APIs, chain state, Oracle prices, etc.) that smart contracts need to access and then executing transactions that need the defined resources simultaneously.
All other transactions that don’t need these resources can get executed immediately. This approach to processing transactions will, in theory, allow the SEI blockchain to increase resource utilization while reducing waiting time for users.
How To Bridge To SEI
Step one for getting on SEI: Download a wallet. You can use Keplr, Compass, or Leap Wallet. In this article, we’ll look at the Keplr wallet since you can use it to connect to most Cosmos blockchains. If you’re a mobile user, Leap and Compass will work better for you.
Search for “Keplr” on your browser’s app store, then add the extension to your browser.
Create a new wallet, new password, and save your secret phrase.
Click Save once you’re on the select chain page. Unfortunately, SEI isn’t on here yet.
Now that you have Keplr downloaded, you can use chains.keplr.app to add SEI to your wallet. Do a search for SEI and add the mainnet to your wallet.
Now, with your wallet downloaded and the SEI blockchain added to your wallet, you can bridge some money over to SEI.
Open Keplr and copy your SEI address.
You can use a website like Rocket Exchange, ChangeNow.io or SideShift.io to send funds from other blockchains to SEI. Pick the option that’s most cost-efficient for you. The final step is sending funds to your SEI address which will appear in your wallet.
5 Upcoming Protocols On SEI
vDEX is a protocol that aims to solve the problem of decentralized option trading with its unique constant expiry perpetual options (CEPOs) design.
CEPOs allow traders to keep option exposure for as long as they want since the contracts don’t have fixed expiry dates. Instead, CEPOs include a rolling expiry feature which allows traders to adjust their expiry as needed.
Traders can choose predetermined expiry times, which vDEX ensures are concentrated with liquidity. The vDEX protocol focuses heavily on minimizing the risks of trading fragmented or illiquid markets.
vDEX also offers a Dual Investment product which essentially allows you to earn yield while waiting for a limit order to fill. With Dual Investment, you can schedule buys or sells at your desired prices. While your order is waiting to get filled, you’ll earn yield from vDEX.
vDEX has an airdrop program listed in phase 2 of its roadmap.
Levana is a perpetual swaps protocol on SEI, Osmosis, and Solana. The user interface is similar to other trading platforms – you can quickly place market and limit orders.
In addition to trading on Levana, you can also provide liquidity in exchange for yield and a risk premium. The risk premium is additional yield Levana offers liquidity providers to compensate them for supporting the market.
Levana is recovering from a recent exploit you can read about here. Trading is suspended until the team is sure they have patched all vulnerabilities. Despite the exploit, Levana still has an active community.
If you’re looking to bet on the real-world asset (RWA) narrative in 2024, IAN is a good start.
IAN allows users to tokenize and trade luxury items. IAN works with third-party custodial companies to authenticate luxury items; then, they tokenize the item as an NFT available for trading on the IAN marketplace.
IAN aims to provide fractional ownership of luxury items by allowing multiple people to hold a portion of a high-value asset.
IAN also plans to provide asset-backed loans, which would allow people to borrow against their luxury items.
IAN hasn’t announced any plans for a token, but you can complete their NFT loyalty quest on Galxe. You’ll get an IAN NFT after you complete the tasks.
4. Pallet NFT Exchange
Pallet is one of the main NFT exchanges on SEI.
With the launch of SEIYANS and other collections, Pallet is extremely overloaded, and requests are being processed sequentially.
Once they fix the website, you’ll want to keep an eye on Pallet for future NFT drops.
5. Dot SEI
Dot SEI is a blockchain domain name service. Dot SEI stands out because it aggregates domain names across all blockchains.
By using Dot SEI’s Software Development Kit (SDK), dApps on other blockchains will recognize your Dot SEI domain. Instead of seeing your wallet address when you connect to a dApp, you’ll see your domain name. You can also search your domain name on Etherscan and other blockchain scanners to bring up your activity.