MEXC Allocates $20 Million to Support Sei Network Development

MEXC's Investment in Sei Network

Singapore-based cryptocurrency exchange MEXC has announced a substantial investment of $20 million to bolster developments on Sei Network. This strategic move underscores MEXC's commitment to enhancing blockchain technology specifically designed for trading.

Features of Sei Network

Sei Network, a layer one blockchain, is engineered to optimize trading processes. It boasts features like native order matching, frontrunning protection, and smart block propagation. These elements are crucial for ensuring efficient and secure trading activities. With an impressive 600 millisecond on-chain trade settlement, Sei Network aims to set a new standard in trade execution speed.

Previous Funding and Ecosystem Growth

In August, Sei Network secured a $5 million funding round from notable investors, expanding its capabilities and ecosystem. The network has attracted over 20 decentralized applications, highlighting its growing influence in the blockchain space. Its ability to process approximately 22,000 orders per second is a testament to its advanced infrastructure and scalability.

The Shift from Ethereum to Cosmos

The limitations of Ethereum in handling high-frequency trading demands have prompted several decentralized solutions, like dYdX, to migrate their blockchains to Cosmos. This transition aligns with the growing need for platforms capable of supporting large-scale orderbooks efficiently. Sei Network's performance and user base of 250,000 testnet users demonstrate its potential as a leading solution in this domain.

By investing in Sei Network, MEXC is poised to play a pivotal role in shaping the future of blockchain trading, leveraging Sei's advanced capabilities to accommodate the evolving needs of decentralized finance stakeholders.