The Sei Foundation has made a significant announcement, revealing a major update for the community. This update involves the distribution of over 27 million SEI tokens as part of a successful v2 upgrade. The purpose of this airdrop event is to reward active participants in the ecosystem since the launch of the Pacific-1 Mainnet. It marks the second airdrop event conducted by the Sei Foundation, with the intention of rewarding Mainnet users.
The Sei Team has taken the initiative to launch this airdrop event. Since last August, there has been considerable development, with over 100,000 addresses delegating voting power to the Pacific-1 Mainnet. The volume of NFT trades has also increased, with users conducting half a million purchase transactions and generating tens of millions of SEI volume.
The focus of the airdrop event is on active usage and participation. Over 27 million tokens will be distributed to 43,052 addresses. Eligible wallet addresses include those holding more than 42 SEI or liquid staked tokens and possessing two or more NFTs from the top eight collections by volume. Addresses containing over 2,000,000 SEI or more than 150 NFTs from the top collections have been excluded. The foundation aims to ensure a fairer distribution this time in response to previous criticisms.
The Sei v2, the first parallelized Ethereum Virtual Machine-supported blockchain network, is now live on Mainnet beta. This upgrade offers sub-second transaction finality, allowing the network to confirm and complete transactions in under one second, thereby enhancing the user experience. Advanced features, such as parallelized execution, position the Sei v2 to compete with other parallelized EVM networks like Monad and Neon. DevilK, a Sei Foundation executive, shared the following statement:
“The Sei Foundation’s airdrop event appreciates the contributions of existing users and attracts new participants to the ecosystem. As Sei continues to develop and expand its offerings, users should check their eligibility for the airdrop and stay informed about upcoming developments.”
Despite this news, the SEI token experienced a 3.54% drop following the broader cryptocurrency market trend. Currently, the token is ranked 75th by market cap and is trading at $0.53.
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Disclaimer: The information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.