Sei was founded by a team of veterans from major tech companies including Robinhood, Databricks, and Google. Core contributors include Jayendra and the founding team who previously worked on high-frequency trading systems, bringing deep expertise in performance optimization. The team has raised funding from top-tier investors including Multicoin Capital, Delphi Digital, and Coinbase Ventures.

Sei launched its mainnet in August 2023 and has formed partnerships with major exchanges including Binance and Coinbase for token listings. The project has collaborated with various DeFi protocols and gaming platforms within its ecosystem. The upcoming Giga upgrade aims to deliver 50x improvements in EVM throughput, pushing blockchain performance toward web2 levels. Sei has been included in multiple crypto index funds.

Sei is built on the Cosmos SDK with Tendermint consensus and uses the Ethermint module for Ethereum compatibility. Its key innovation is parallelized EVM execution, which processes multiple transactions simultaneously rather than sequentially. This architectural design significantly improves throughput while maintaining full compatibility with Ethereum developer tools and smart contracts.

SEI has a total supply of 10 billion tokens with no maximum supply cap. Circulating supply is approximately 6.7 billion tokens. The token distribution allocates significant portions to community incentives, ecosystem development, and team allocations. The native token is used for transaction fees, staking for network security, and governance participation within the Sei ecosystem.

Sei implements a proof-of-stake consensus mechanism where SEI token holders can stake their tokens to secure the network and earn staking rewards. Token holders participate in governance by voting on proposals that affect network parameters, protocol upgrades, and ecosystem fund allocations. The decentralized governance model ensures that network development decisions reflect the collective will of the community.

Sei primarily serves as infrastructure for DeFi applications including decentralized exchanges, lending protocols, and synthetic asset platforms. Its high-throughput architecture also supports Web3 gaming and NFT applications. The parallelized EVM enables developers to build complex financial instruments and gaming DApps that require fast finality and low transaction costs, making Sei suitable for applications demanding web2-level performance.