Welcome to the Sei Overview. In this edition, we take a look at Sei’s new storage layer FlatKV, which helps the network process more transactions, as well as Monaco’s changes to its trading platform.
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By the Numbers
$SEI token price: $0.05 (+11.9%)
Market cap: $329.8M (+11.7%)
Total Value Locked (TVL): $33.5M (+2.4%)
Stablecoin market cap: $299.9M (-1.1%)
Daily EVM transactions: 15.7K (+3.3%)
Daily EVM active addresses: 1.2K (-52%)
Block time: 0.46s (+0%)
Percentages and metrics are calculated over a 7-day time frame, unless noted otherwise.
Sei Showcase
💨 What’s happening: In a benchmark, Sei Labs’ new storage layer, FlatKV averaged 205,913 transactions per second, roughly 13.7x more than the network’s current system.
💨 Why it matters: To verify and process transactions, each node on Sei currently calculates what happens next and stores that information in a database. That storage part slows networks down since transactions have to wait in a queue behind storage no matter how fast the network can process them.
Sei currently uses a database structure known as Merkle Trees to verify transactions, in which every change to a record, such as transaction details or account balances, will require the node to recalculate the entire branch of hashes connected to it. This structure is tamper-proof and lightweight, which is why blockchains traditionally have employed it.
But that recalculation load can quickly grow very costly on a network that processes hundreds of thousands of transactions, which ends up slowing the entire network down.
FlatKV changes that by adopting a more flat structure so any update to a record requires only one write action. The network pairs this with a lattice hash that updates the state of the network constantly. Together, they make it cheaper and faster to verify and process transactions.
While the benchmark doesn’t exactly reflect how FlatKV would behave on mainnet, it does point to how much it raises the potential speed ceiling once it is fully implemented.
💨 The bigger picture: FlatKV is part of Eidos, the storage portion of Sei’s Giga upgrade.
Eidos began rolling out during Sei’s v6.6 mainnet upgrade, which started moving the network’s EVM records into its Sei’s database. FlatKV is a part of that upgrade, aimed at preventing unrelated parts of the network from paying the cost of storage.
Accelerating Sei’s blockchain
Monaco updated its developer software development kit with features for developers building trading interfaces. The update adds:
Per bucket figures for collateral;
A React hook for tracking market listings; and
A fix preventing conditional order updates.
Yei Finance is expanding its Sei-native lending protocol into Clovis, a cross-chain protocol on Ethereum, Base, Sei and BNB Chain.
The platform pools each asset into one market in order to keep borrowing and lending rates consistent across Clovis’ supported networks and remove the need for manual bridging.
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.