Welcome to the Sei Overview. In this edition, we explore the integration of ZeroDev’s smart accounts to Sei, as well as updates to Sei’s stablecoin and user metrics.
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By the Numbers
$SEI token price: $0.04 (-3.1%)
Market cap: $299.6M (-0.7%)
Total Value Locked (TVL): $42.6M (-0.5%)
Stablecoin market cap: $302.4M (-0.8%)
Daily EVM transactions: 11.7K (-3.3%)
Daily EVM active addresses: 2.9K (+70.6%)
Block time: 0.43s (+0%)
Percentages and metrics are calculated over a 7-day time frame, unless noted otherwise.
Sei Showcase
💨 What’s happening: ZeroDev recently integrated its smart account platform with Sei.
💨 Why it matters: Smart accounts replace the standard Ethereum wallet, a private key used to sign transactions, with a programmable contract that can hold rules about what it is permitted to do.
Typically, with a crypto wallet that can approve only one action at a time, one can only pay transaction fees using the network's own token. This means new users have to first acquire tokens, then approve each step of each transaction separately. While this is healthy for token awareness and creates a need for owning a blockchain’s token, it also adds friction to the user onboarding journey.
Using ZeroDev, apps can cover fees for their users, so a new user does not need to buy a token first. They can give an app permission to act within specified limits, so steps that currently require separate approvals can be combined into one.
💨 The bigger picture: The ability to set rules into smart accounts lets people use them to approve the app they’re using to trade on their behalf. This opens the door for potential AI connectivity.
Accelerating Sei’s blockchain
Updates on the latest games, validators, builders and more that are helping Sei expand
Alejandro Ranchal-Pedrosa, senior protocol researcher at Sei Labs, detailed how Sei’s upcoming Giga upgrade speeds up the blockchain with a mechanism that ensures nodes agree on their states without having to rebuild a fingerprint of the entire chain after every block. That rebuilding step is what makes most chains slower to run as their state grows. Giga's version of that mechanism scales with how much a block changed rather than how much data the chain has accumulated.
Sei's average revenue per user returned to about $0.0110 in the week of July 20, from $0.00823 a week prior.
Sei’s stablecoin active addresses surged to 4.1K on July 23, a new high for this year. The timing coincides with Binance U.S.'s Boost campaign for Sei, which rewards users for moving USDC or USD onto the exchange. Since the metric counts unique addresses that send a stablecoin, exchange deposits register the same way organic payment activity does, which lets us infer that the increase in activity is related to the campaign.
Lock in to the ecosystem
Want to get involved?
Check out the latest job postings on Sei Labs and Sei Development Foundation.
Explore Sei’s ecosystem to find regional partners and learn how to build on its EVM layer.
That’s all for this week.
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.