MEXC launches $20M ecosystem fund to support Sei Network

1 year ago 126

Sei Network antecedently raised $5 cardinal successful backing successful August 2022.

MEXC launches $20M ecosystem money  to enactment    Sei Network

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According to a blog station published connected Jan. 4, Singapore-based cryptocurrency speech MEXC announced that it would allocate $20 cardinal to enactment developments connected Sei Network. A furniture 1 blockchain designed for trading, Sei Network's stated features see autochthonal bid matching, frontrunning protection, astute artifact propagation, and 600 milisecond on-chain commercialized settlement. Leo Zhao, concern manager of MEXC Ventures, commented: 

"AMM [Automated Market Makers] was the ascendant market-making method successful crypto for the past 2 years. The deficiency of a much businesslike market-making strategy is successful ample portion due to the fact that of exertion restrictions similar debased velocity and smart-contract restrictions. We judge Sei's customized Layer 1 solution volition beryllium a crippled changer successful the industry."

. Last August, Sei Network raised a $5 cardinal backing circular from investors specified arsenic Multicoin Capital, Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, Flow Traders, and others. By then, implicit 20 decentralized applications had been gathering successful the ecosystem. Sei claims its blockchain tin process astir 22,000 orders per 2nd and has 250,000 testnet users. Similarly, to conscionable speech trading specifications, different decentralized solutions specified arsenic dYdX, chose to migrate its blockchain from Ethereum (ETH) to Cosmos (ATOM). Developers said Ethereum simply couldn't handle its orderbook of around1,000 orders per second. 

"Decentralized exchanges are besides the astir underserved exertion successful crypto. They request a unsocial level of requirements for reliability, scalability, and velocity that nary different apps need. If a ample speech goes down for a fewer moments, it's catastrophic, but the aforesaid downtime is acold much tolerable for astir different exertion types."

MEXC Ventures presently possesses astir $100 cardinal successful assets nether absorption dispersed crossed 300 portfolio companies. Its genitor MEXC speech processed astir $600 cardinal successful full trading measurement successful the past 24 hours. The steadfast is known for its perpetual future products, which launched successful Q4 2018. 

— MEXC Global (@MEXC_Global) January 4, 2023

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