Learn · What is Sei?
What is Sei? Sei Crypto Explained
Sei is a Layer 1 blockchain optimized for trading. It was built to run high-frequency exchanges, fast-settling DeFi, and low-latency gaming — applications where transactions need to confirm in hundreds of milliseconds, not seconds or minutes. Live indicators: market cap , active validators .
- Open source
- Free & open license
- Independent audit
- Signed builds
The 30-second version
- What: A Layer 1 blockchain compatible with Ethereum smart contracts, designed specifically for trading-heavy applications.
- Speed: Up to 12,500 transactions per second on the current mainnet (theoretical maximum), with sub-400ms transaction finality.
- Where it stands: Mainnet launched August 15, 2023. As of 2026, the network has processed more than five billion transactions across more than 90 million wallets.
- Direction: Sei is transitioning to EVM-only through 2026 (SIP-3, completion target mid-2026), removing its original Cosmos layer. After SIP-3, the next upgrade (Sei Giga) targets 200,000+ TPS while keeping the same finality.
- Position: Described as "the #1 EVM chain by number of active users" in the network's own ecosystem marketing — supported by daily active address counts in the 1.3-1.4M range in early 2026.
Why Sei exists
Most blockchains are general-purpose. Ethereum runs everything from NFTs to lending protocols to social apps. Solana does similar with different trade-offs. Sei takes the opposite approach: pick one use case (trading) and optimize the entire chain for it.
What "optimized for trading" means in practice: sub-400ms finality (order books need fast settlement); parallelized execution (independent transactions run concurrently rather than sequentially); frontrunning protection inherited from Sei's earlier "twin turbo consensus" design; and EVM compatibility (Solidity contracts run without rewriting).
This focus has trade-offs. Sei is less general-purpose than Ethereum. It doesn't have the deepest DeFi ecosystem, the largest NFT market, or the strongest brand recognition. What it has is purpose-built infrastructure for one set of use cases.
What runs on Sei
- DEXs and trading apps — DragonSwap, Citrex (perpetuals), Symphony, others.
- Lending and DeFi infrastructure — Yei Finance is the most active lending protocol; Morpho integrates with Sei; native USDC support via Circle's CCTP V2.
- Gaming dApps — drive a meaningful share of daily active addresses; specific titles rotate in popularity.
- Cross-chain bridges — Wormhole, LayerZero, and Circle's CCTP v2 connect Sei to Ethereum, Arbitrum, Base, Solana, and others.
- Developer infrastructure — Token Terminal, Alchemy, standard Ethereum tooling (Hardhat, Foundry, Remix, Solidity).
What's changing in 2026: SIP-3
SIP-3 is the upgrade that strips out Sei's original Cosmos layer and makes it pure EVM. Approved by community vote in May 2025, rolling out across multiple network releases in 2026, with completion targeted for mid-2026. Cosmos-side functionality (CosmWasm contracts, IBC bridging, sei1 native transactions, native oracle) is being wound down. The chain itself, the SEI token, validators, governance, sub-400ms finality, and dApp execution all stay. For users with pre-SIP-3 holdings at sei1 addresses, see /migration and /learn/sei-addresses.
What's coming after SIP-3: Sei Giga
Sei Giga targets 200,000+ TPS (about 50× the current 12,500 TPS theoretical maximum) while keeping sub-400ms finality, plus multi-proposer consensus (Autobahn) and a parallelized EVM with improved execution performance. Giga is in devnet testing as of mid-2026 with mainnet rollout phased through the year.
Adjacent ecosystem (entity disambiguation)
- Sei Foundation — the international governance organization for the Sei protocol.
- Sei Development Foundation — separate US 501(c)(4) non-profit, Manhattan, established April 2025, funded by Sei Foundation to support builders.
- Sei Labs — for-profit company that originally built the chain. Co-founders include Jay Jog and Jeff Feng.
- Sei Global Wallet — built by Sei Labs, pre-installed on Xiaomi smartphones starting 2026. Distinct from Sei Wallet (us, this site) — see /sei-wallet-vs-sei-global-wallet.
- Canary Staked SEI ETF — exchange-traded product filed by Canary Capital with the SEC (S-1 filed April 2025; pending approval as of 2026).
- Robinhood listing — SEI listed October 2025, available to 25M+ users globally with some US-state restrictions.
Sei Wallet (this site) is operated by Sei Wallet Labs Inc — an independent New York company.