Welcome to the Sei Overview. In this edition, we explore Sei Labs’ latest network proposal for the potential threats of quantum computing, as well as a whitepaper about Hermes, the final step for its Giga upgrade.
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By the Numbers
$SEI token price: $0.041 (-6.9%)
Market cap: $279.2M (-7%)
Total Value Locked (TVL): $38M (-10.8%)
Stablecoin market cap: $302.4M (+0%)
Daily EVM transactions: 11.3K (-3.4%)
Daily EVM active addresses: 2.3K (-20.7%)
Block time: 0.42s (-2.3%)
Percentages and metrics are calculated over a 7-day time frame, unless noted otherwise.
Sei Showcase
💨 What’s happening: Sei Labs has proposed SIP-5, a plan for how the network could upgrade accounts to be resistant to quantum computers.
💨 Why it matters: The proposal would enable account holders to attach a second key to protect their accounts. If the plan is accepted in the future, it will set a cut-off point, beyond which accounts can only send if they’ve been protected with this new, quantum-resistant key.
Currently, every account on Sei is controlled by a private key, and its matching public key is visible to anyone. This form of security works today, but in the future, a powerful enough quantum computer could overwhelm such cryptography.
💨 The bigger picture: The proposal carries a notable trade-off: speed. Quantum-resistant signatures are much larger than the ones used today, and so will take up more bandwidth, impacting the overall network’s capacity.
Because Sei is working to become a trading-optimized blockchain, execution speed is important to consider as trading applications are sensitive to both throughput and transaction speed.
SIP-5 is only a proposal at this time that’s open for governance discussions, and no implementation date has been set yet.
Accelerating Sei’s blockchain
Updates on the latest games, validators, builders and more that are helping Sei expand
Sei Labs has published Hermes, the final piece of the Giga upgrade. Hermes would require validators to submit a proposal at the start of the round. Because Sei is trying to optimize for trading, a leader getting stalled will affect only the small portion those proposals disagree on rather than the entire round.
Alejandro Ranchal-Pedrosa, senior protocol researcher at Sei Labs, shared a visual explainer about Hermes and the technical difference it makes compared to other transaction methodology.
Monaco released AI-related documentation for its trading platform, allowing AI tools to read Monaco data and manage orders. The documentation details a read-only mode that requires no credentials, but can pull market listings, orderbooks, price candles and recent trades. It also adds an authenticated mode that adds account balances, fee simulation, order placement and cancellation, position closing, and vault transfers.
A network upgrade proposal passed that implemented Eidos, a new storage layer that will begin moving the chain’s history into its own database, and Ares, a rebuilt execution engine that will become the default path for running transactions.
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.
Participate in Binance U.S.’ Boost campaign for Sei that lets users earn from a pool of 2M $SEI rewards by moving their USDC, USDT, or bitcoin to the exchange.
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.