Sei, a layer-1 blockchain geared for trade, has announced a $50 million ecosystem and liquidity fund to enable innovative decentralized finance (DeFi) apps on its network, according to co-founders Jeff Feng and Jay Jog. So far, Sei’s ecosystem comprises over 50 teams, with the majority of them coming from blockchains such as Solana, NEAR, Polkadot, and the now-defunct Terra, Feng added. According to Feng, Sei has not spent any money on environment grants. The new fund, however, would be used to expand its ecosystem and incentivize “excellent founders” to come in and build applications on its blockchain.
