Welcome to the Sei Overview. In this edition, we explore the second edition of Sei’s Giga whitepaper, which lays out the network’s architecture, its mission to create a trading environment on par with the Nasdaq, and recent ecosystem developments.
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PSA: Our Sei Ecosystem Webinar is on July 9th at 11AM EST with Jay Jog, co-founder of Sei Labs - live on Token Relations X
By the Numbers
$SEI token price: $0.05 (+1.8%)
Market cap: $337.5M (+3.7%)
Total Value Locked (TVL): $47.7M (-5.2%)
Stablecoin market cap: $312.5M (-3.2%)
Daily EVM transactions: 19.2K (-10.3%)
Daily EVM active addresses: 3K (-42.3%)
Block time: 0.43s (+0%)
Percentages and metrics are calculated over a 7-day time frame, unless noted otherwise.
Sei Showcase
💨 What’s happening: Sei Labs published the Sei Giga V2 whitepaper, explaining the full architecture behind the network's upgrade, which targets 5 gigagas of throughput (roughly 200,000 transactions per second) and sub-250ms finality.
💨 Why it matters: Most blockchains handle transactions in series: a leader proposes a block, validators download it, execute it, and then agree on it once it's locked in. Giga aims to smoothen that process by not requiring every step to wait on other steps. It does this breaking that sequence into three separate steps:
Transactions are ordered first, and the results are calculated later: Validators agree on the order transactions happened in, then compute the resulting account balances and contract states afterward. Since the outcome of a transaction is determined by its order and the rules of the network, the calculation step no longer slows down how fast transactions are locked in.
Validators propose transactions at once, instead of one at a time: Sei Giga uses a system called Autobahn, in which every validator proposes its own stream of transactions instead of waiting in a queue for a single leader's turn. The network then periodically bundles the latest transactions from every validator into one snapshot, cutting out the back-and-forth needed to lock in a block roughly in half.
Transactions stay private without a decryption bottleneck: Most chains that want to hide pending transactions from front-runners encrypt them, which requires validators to decrypt everything afterward. Giga instead uses a system called Sedna, which splits a transaction into small coded pieces and sends them to only a subset of validators rather than broadcasting the whole transaction to every validator.
💨 The bigger picture: Centralized exchanges like Nasdaq process trades in microseconds because they run on purpose-built, centralized infrastructure. Blockchains have historically struggled to match that while staying decentralized.
Sei Giga targets parity with exchanges like the Nasdaq, and is starting with faster ordering and parallel proposers to address raw speed. The original Giga Whitepaper, published in May 2025, outlined its approach to multiple concurrent proposers, focused on speed alone. V2 proposes better architecture while introducing Sedna: pre-execution privacy by splitting transactions into small, encrypted pieces.
This addresses a problem centralized exchanges don't face, which is that pending trades on most blockchains are visible before they settle, letting others front-run them. This has historically been a core differentiator between onchain environments and centralized ones, and is the root enabler of all MEV.
Jay Jog, co-founder of Sei Labs, said, “Pre-execution privacy means simply that a transaction is private up until the point of finality, where it can't be reverted. By having transactions be public pre-execution, users are exposed to a whole world of risk that makes using a blockchain unfavorable.”
Accelerating Sei’s blockchain
Updates on the latest games, validators, builders and more that are helping Sei expand
Messari published a report about Sei's Giga upgrade and its approach to move execution guarantees into the protocol itself through multi-proposer consensus, deterministic ordering, and private transaction dissemination.
Yuzu Money released syzUSD stablecoin on Sei, and launched a syzUSD/PYUSD lending vault on Feather last week, boosting deposits to hit an all-time high of $16.3M on June 27. Since then, deposits fell as low as $15M before rebounding to $15.9M by July 3.
Oku launched Borrow 2.0, a tool that surfaces the best borrowing opportunities based on a user's collateral, across Sei and nine other chains. For Sei, the integration adds a cross-chain discovery layer on top of its existing lending markets, giving borrowers on other chains a direct path to find and access Sei-based opportunities without manually comparing rates across protocols.
Lock in to the ecosystem
Want to get involved?
Check out the latest job postings for 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.