Sei

Sei (SEI)

Full information about Sei (SEI). Current Sei price in SAR, SEI open/close rates, Sei history charts, Sei market capitalization and volume.

1 SEI = 1.81 ﷼ Saudi Riyal (SAR)
0.4819457 SAR

Last updated: 2024-10-01 01:40:00 UTC - about 7 months ago 1 USD = 3.751082 SAR

General information
Global rank:53
Name: Sei Sei
Symbol:SEI
Current coin price (SAR):1.81 ﷼
Last hour:arrow_upward2.75 %
Last 24 hours:arrow_upward2.58 %
Last 7 days:32.48 %trending_up
Capitalisation (SAR):6 372 307 023.89 ﷼
Volume 24h (SAR):1 120 060 106.46 ﷼
Available supply:3 524 861 111.00 SEI
Total coin supply:-1 SEI
Start date:2023-05-22
Last updated: 2024-10-01 01:40:00 UTC - about 7 months ago

Sei/Saudi Riyal (SEI/SAR) price chart

Sei/Saudi Riyal (SEI/SAR) capitalisation and volume charts

What is Sei (SEI)?

Sei is an open-source, permissionless Layer 1 blockchain, crafted specifically to redefine digital asset exchanges. Optimized for speed, Sei leverages its unique Twin-Turbo Consensus mechanism to ensure rapid transactions. Designed to fulfill the demands of a Web3 environment, Sei offers features like frontrunning protection, efficient block propagation, and instant finality, making it an ideal platform for applications requiring high-performance and top-tier user experience.

What is $SEI used for?

The SEI token, the native cryptocurrency of the Sei network, serves multiple purposes:

Transaction Payments: SEI is used to compensate for network transaction fees.Validator Staking: Token holders can either delegate their SEI to validators or stake their tokens to secure the network.Governance: SEI token holders can participate in the protocol's governance processes.Collateral: It functions as a native asset liquidity or collateral for dApps on Sei.Trading Fees: On Sei-based decentralized exchanges, SEI is used as a transaction fee.

It's essential to highlight that SEI tokens majorly fund community projects and initiatives, strengthening decentralized token distribution. This approach ensures the network remains transparent, democratic, and resistant to centralization.

Who created Sei (SEI)?

The Sei network sprouted from the visionary minds of Jeffrey Feng and Jayendra Jog, backed by a team of professionals with rich experiences from companies like Airbnb and Goldman Sachs. Their shared ambition was to sculpt a blockchain infrastructure that would not only address the current needs of digital exchanges but also scale as the world of Web3 evolves.