MEXC Launches $20M Ecosystem Fund

Published on: 06.01.2023
MEXC Launches $20M Ecosystem Fund

MEXC launches $20M Ecosystem Fund to support Sei Network adoption. The Sei Network is the first Layer 1 blockchain. Designed for trading, which is between the general Layer 1 public chain and the specific Layer 1 public chain, providing a customized application environment for Dex.

Designed from bottoms-up to scale with the needs of decentralized exchanges, Sei has made several optimizations to Layer 1 to give exchanges an unfair advantage:

  • Native order matching engine – drives scalability of order book DEXs built on Sei
  • Frontrunning protection – combats malicious frontrunning that is rampant in other ecosystems
  • Intelligent block propagation – improves latency and throughput
  • Sub-second settlement – Sei is the fastest chain to finality at ~600ms

The combination of these optimizations makes it possible for new types of financial products to emerge—everything ranging from live sports betting to complex options and futures. With the above changes, Sei will tackle the problem of frontrunning transactions, allowing users to avoid unnecessary losses.

The development team behind Sei is Sei Labs, and its core advantages include:

  • Developers from Robinhood, Databricks, Airbnb, etc. with extensive expertise in order book design, infrastructure, and the Cosmos stack
  • Cosmos OGs who have navigated the ecosystem for years
  • Finance and strategy members from Goldman Sachs and other market makers who bridge the gaps between DeFi and institutions

In August of this year, Sei raised $5 million USD from investors. It includes Multicoin Capital, Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, Flow Traders, and more. The new capital will be used to support the network as it approaches mainnet launch and further accelerates the growth of over 20 dApps already building in the Sei ecosystem.

The person in charge of Sei said that through close cooperation with MEXC, the world’s first-class cryptocurrency trading platform, Sei will gain a strong advantage in terms of resources and help its ecosystem achieve sound and sustainable construction and development.

MEXC has been committed to supporting innovative Layer 1 solutions to build more decentralized and efficient financial infrastructures. AMM was the dominant market-making method in crypto for the past 2 years. The lack of a more efficient market-making strategy is in large part because of technology restrictions like low speed and smart-contract restrictions. We believe Sei’s customized Layer 1 solution will be a game changer in the industry.—Leo Zhao, investment manager of MEXC Ventures

THE MEXC Trading Platform

Founded in April 2018, MEXC is a cryptocurrency trading platform ranked top 10 globally and top 3 in Asia, with more than 7 million users. Currently, it supports the spot trading of more than 1,500 types of cryptocurrencies. Futures trading of more than 120 types of cryptocurrencies, and ETF trading of more than 300 types of cryptocurrencies.

The projects listed cover all sectors, such as public chain, cross-chain, L2, DeFi, NFT, GameFi, and DAO, and MEXC is called by users the first stop for high-quality project launch. It is the trading platform with the most tradable crypto assets. The fastest launch speed for high-quality projects on the Internet.

MEXC Ventures is a comprehensive fund under the MEXC Group, committed to empowering innovations in the cryptocurrency field via strategic investment, M&A, FOF, and project incubation. MEXC Ventures upholds the concept of “discovering opportunities and growing together” by fully sharing fund resources and providing solid support for projects. The team spans the U.S., Singapore, and other regions of the world, with $100m+ AUM and 300+ portfolio investments.

ABOUT MEXC Global

MEXC is a centralized crypto exchange that provides access to spot, margin, and futures trading. Founded in 2018, the exchange also offers quantitative trading, leveraged ETFs, and index ETFs.

Website | Twitter

ABOUT SEI Network

Sei is the first sector-specific Layer 1 blockchain, specialized for trading to give exchanges an unfair advantage.

Website | Twitter

RESOURCES

MEXC Global

REQUEST AN ARTICLE

Market Stats:
BTC Dominance: 42.31%(-0.06%/24h)
ETH Dominance: 18.41%(-0.07%/24h)
Defi Market Cap: $0B(-18.91%/24h)
Total Market Cap: $1046.7B(+0.45%/24h)
Total Trading Volume 24h: $47.35B(-9.43%/24h)
ETH Market Cap: $0B
Defi to ETH Ratio: 0%
Defi Dominance: 0%
Altcoin Market Cap: $603.88B
Altcoin Volume 24h: $26.18B
Total Cryptocurrencies: 22368
Active Cryptocurrencies: 8875
Active Market Pairs: 58755
Active Exchanges: 537
Total Exchanges: 4715