SEI Ecosystem: What are the top Dapps building on SEI network?
SEI, the blazing-fast blockchain of Layer 1, is specifically crafted to keep pace with the rapidly evolving industry. It has garnered immense trust from top-notch operators, investors, and esteemed institutions. The network proudly showcases its robust infrastructure, delivering an impressive surge in throughput. Recently, a remarkable announcement came to light: SEI secured a noteworthy commitment of $50 million from Foresight Ventures, a highly regarded venture capital firm. This injection propels the SEI Ecosystem Fund to an impressive total of $120 million, combining prior contributions from Multicoin Capital, GSR, Hudson River Trading, Flow Traders, Delphi Digital, MEXC, Hypersphere, and Kronos Research. Our focus in this article revolves around the cream of the crop dApps that are currently shaping the landscape within this ecosystem.
What we are going to learn?
What is SEI Ecosystem?
SEI is an amazing blockchain platform that’s designed to be open-source and cater to a wide range of needs. SEI has some groundbreaking features that make it stand out from the rest. One thing people often get wrong is thinking that SEI is only for DeFi (Decentralized Finance). But that’s not the case at all! SEI is all about facilitating the exchange of digital assets across various domains like gaming, social platforms, and NFTs (Non-Fungible Tokens). So, what sets SEI apart? Well, it tackles the challenge of scalability when it comes to asset exchange head-on. SEI is the first-ever Layer 1 blockchain specifically optimized for trading. SEI boasts lightning-fast transaction speeds that outshine other blockchains in the industry. Plus, SEI adopts a user-focused approach, ensuring that the platform is intuitive and easy to navigate.
What are the top dApps building on SEI blockchain?
Dapps are virtual programs built on blockchain technology and bring a whole new level of innovation. Unlike traditional apps that rely on centralized servers owned by a company, dApps operate on a decentralized peer-to-peer (P2P) network based on the SEI Ecosystem. Speaking of the SEI Ecosystem, it’s a vibrant environment where numerous exciting dApps are being developed. We’ve handpicked a few of our favourites to give you a taste of what’s to come. Check them out:
Wallets on SEI blockchain
Falcon is an Interchain Wallet designed specifically for Web3. What it does is simplify the whole process of handling, sending, and receiving tokens across more than 40 zones within the Cosmos ecosystem. The wallet is completely non-custodial, which means your private keys are super safe and encrypted. With Falcon, you can easily select your destination chain and zap your IBC tokens across at lightning speed. And guess what? The gas fees are incredibly low too!
Keplr is the go-to wallet when it comes to IBC-enabled functionality and is focused on making things easy and connected. Irrespective of where you use it, Keplr has got you covered with powerful and secure tools that cater to all your on-chain activities. They proudly support over 40 Chains, and have had more than 900 thousand Installs! That’s a huge number. And to top it off, they’ve got End-to-End Encrypted Productivity Tools, ensuring that your transactions and data are kept super safe.
Lending Protocols on SEI protocol
Kryptonite is a platform that’s built to work seamlessly with various bAssets, not just on the Cosmos blockchain, but beyond as well. It gives users not just one, but two ways to earn! You can either lend your stablecoins, like USDC, and earn interest on your deposits, or you can stake your bAssets and receive awesome $kr36 rewards. What makes Kryptonite truly special is its utilization of SEI’s unique features. With this integration, Kryptonite brings a robust native money market to the Cosmos ecosystem, making it a powerhouse in the world of decentralized finance.
Decentralized exchanges on SEI
What makes Leonicorn unique is that it combines traditional AMM features with multi-chain and cross-chain DEX aggregators. This means you get the best of both worlds! In the Leonicorn Swap Exchange, you have the opportunity to trade and provide liquidity not just for your own project, but for others as well. On Leonicorn Swap, with deep liquidity, you can trade across 21 different chains, giving you plenty of options and opportunities. But here’s the best part: in one DEX, you can trade on both EVM and Non-EVM blockchains.
OKX is an innovative cryptocurrency exchange that has got some seriously advanced features. One of the things that makes OKX stand out is their global reach. They cater to millions of users in over 180 regions around the world. First off, you can trade hundreds of tokens and trading pairs. OKX is also a go-to platform for managing your DeFi portfolio. They provide all the tools and features you need to stay on top of your decentralized finance game.
Cross Chain Communication platforms
Axelar is all about providing secure cross-chain communication for Web3. Their infrastructure is designed to make it super easy for dApp users to interact with any asset or application, regardless of the chain it’s on. They’ve got over 30 blockchains in their arsenal, and have facilitated transactions worth over 2 billion dollars. Axelar leverages Turing-complete calls and messages on a permissionless proof-of-stake transport layer to achieve cross-chain communication.
Multichain is the ultimate router for web3, providing a robust infrastructure for seamless cross-chain interactions. In fact, Multichain actually started its journey as Anyswap on July 20th, 2020. It has an impressive family of chains, currently numbering 26 and growing and also handles daily volumes of over $100 million.
Decentralized Finance platforms on SEI network
Sushi is a community-driven organization that got together to tackle what they call the “liquidity problem.” Instead of sticking to just one way of doing things, Sushi brings together a whole bunch of different markets and tools that work in a decentralized manner. They’ve set things up so that the folks who hold $SUSHI tokens have a say in how things are run, which keeps the whole platform democratic and open to new ideas. It’s all about building on what they’ve already got and keeping the innovation flowing
Crescent aims to bring a whole new level of DeFi goodness to the Cosmos Ecosystem. They’re concentrating on boosting the efficiency of capital and making sure risk is managed like a pro. The team is working hard to create a bunch of super useful tools, and they’re not doing it alone – the whole community gets to have a say through governance. They have the Crescent DEX, Crescent Boost, and Crescent Derivatives, as some of the awesome functionalities they’re focused on.
Social platforms Building on SEI
SpaceID is this amazing blockchain protocol that came into existence back in April 2022. Basically, it acts as a naming service for users, allowing them to reserve cool domains like book.arb, .bnb, and .eth. SpaceID likes to call itself the One-stop Web3 Domain & Identity Platform because it helps you with everything related to virtual identities. From exploring and registering identities to trading and managing them, it’s got you covered!
Zealy, formerly known as Crew3, is like an all-in-one operating system designed specifically for communities. It’s a nifty platform that can really simplify your project or protocol by automating various tasks. The platform can be a huge help to you from the moment you bring new members on board to keeping them engaged and growing your community. With Zealy, you’ll find a bunch of user-friendly and manageable tasks that won’t overwhelm you. It’s like having bite-sized pieces of productivity at your fingertips.
We will be updating this article, as more and more dApps are built on SEI ecosystem.