Welcome to the Sei Overview. In this edition, we take a look at Sei’s v6.7 mainnet update and its implications for the network’s much bigger Giga upgrade, the latest on Monaco, and perpetual futures trading trends.
New here? Subscribe here to get updates to your inbox every Monday.
By the Numbers
$SEI token price: $0.06 (-7.4%)
Market cap: $448M (-7.4%)
Total Value Locked (TVL): $33.6M (-3.7%)
Stablecoin market cap: $307.3M (+0.3%)
Daily EVM transactions: 18K (-2.2%)
Daily EVM active addresses: 2.1K (-32.3%)
Block time: 0.45s (-4.3%)
Percentages and metrics are calculated over a 7-day time frame, unless noted otherwise.
Sei Showcase
💨 What’s happening: Sei Labs has implemented a network upgrade that removes outdated features from Sei’s codebase and adds new protections to keep the blockchain running smoothly during periods of heavy activity.
💨 Why it matters: As Sei matures, the blockchain continues to collect and store older features that may not be used so often anymore. But they’re still maintained and secured with every new release, which can slow down development and add complexity.
Sei’s v6.7 mainnet upgrade clears out several of these older components in order to slim down the network and make it easier to build on, particularly for developers familiar with Ethereum-based tools.
The upgrade also adds new safeguards that stop users from overloading the network with requests. This enables more responsive behavior during busy trading periods.
💨 The bigger picture: Following Sei’s recent storage engine update, this mainnet upgrade is another step toward a faster network, which is the eventual goal of the Giga roadmap.
Accelerating Sei’s blockchain
Updates on the latest games, validators, builders and more that are helping Sei expand
Monaco’s new protocol upgrade improves how trades and market data appear on the platform by giving traders a more transparent view of what’s happening in the market in real-time.
Other features include live funding and open interest data channels for its market feeds, and time-weighted trades that show up in real-time price and order book updates.
Saphyre generated $684K in protocol fees during September, the highest this year, largely due to the integration of perpetual futures trading as well as DRG token buybacks.
The number of RWA holders on Sei increased by 8% to 2,322 over the past week, mostly because of Ondo’s U.S. Dollar Yield fund, which now has 2,315 holders on the network.
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.
Saphyre opened the waitlist for its Sei-powered perpetual future trading DEX.
That’s all for this week.
Hit reply and let us know how we did! What was your favorite part of the newsletter? Our founder reads every response.
To get this newsletter delivered to your inbox every Monday, subscribe here:
This product was built by StrataMedia.
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.