In this Sei Network Airdrop Guide article, we recommend effective methods for those interested in participating in SEI airdrop. If you’re one of them, finish reading this article to know how to qualify for this promising airdrop.
- The best ways to be eligible for the Sei Network airdrop
- What is Sei Network?
- Sei Network ecosystem overview
The Best Strategies to be Eligible for the Sei Network Airdrop
This section covers the strategies to qualify for the airdrop. Go through and follow the tutorial we’ve prepared for you.
1. Trading in the Sei Network Testnet
The Sei Network makes use of transacting in the Vortex Protocol, a valuable platform for the airdrop, as it offers over 35 perpetual markets with interconnected composability and substantial liquidity throughout the Cosmos ecosystem.
Joining the network increases your chance to qualify for the airdrop and provides secure and quick transactions thanks to Sei’s native purchase-matching engine and multiple order-bundling levels.
Here’s how to start:
Step 1: Visit the Vortex home page and connect your wallet.
Step 2: Place the UST2 amount you want to deposit.
Step 3: Begin your trading journey.
2. Minting UXD Stablecoins
This method generates the new UXD in exchange for a decentralized cryptocurrency asset’s USD equivalent. As the first stablecoin application to migrate to the Sei Network, UXD Protocol is beneficial in qualifying for the airdrop.
To meet this eligibility requirement, follow this process:
Step 1: Go to https://app.uxd.fi/ to mint UXD.
Step 2: Connect your wallets and use the application to mint your tokens into UXD.
Minting UXD helps resolve the stablecoin trilemma surrounding price stability, capital efficiency, and decentralization by enabling a wholly collateralized algorithmic stablecoin.
Step 3: Stake your UXD at https://stake.uxd.fi/
3. Bridge your assets to Sei Network
Aside from trading, the Vortex Protocol also allows you to bridge your digital assets between blockchains. Bridging tokens from the blockchain to the blockchain may grant you lower fees and quicker transaction times. Therefore, you can minimize your gas fee while gaining more from your cryptocurrency by allowing you to participate in activities from one network to another.
Here’s how to do it:
Step 1: Open Vortex Protocol and proceed to the Bridge section.
Step 2: Enter the number of aUSDC you want to bridge to Sei Network
After connecting your account to your Leap or Keplr account, fill out the required details, such as the amount and destination address. You can click the “autofill” option to place your Sei address automatically.
What is Sei Network?
The Sei Network is a layer one blockchain that focuses on trading and is sector-specific. It introduced brand-new systems for processing blocks, executing transactions in order, and parallelizing exchanges. Additionally, it’s a trading-focused L1 blockchain that bridges the quality gap for CEX and DEX.
Related Article: Top Layer 1 Blockchain Platforms You MUST Watch in 2023
Sei Network Ecosystem Overview
In 2022, Sei launched a $50M-worth ecosystem and liquidity fund supporting the creation of new apps on Sei and aiding teams in bootstrapping liquidity before the mainnet launch. The fund’s purpose is to hasten the implementation of decentralized finance by institutions. The Sei Eco has over 50 projects after receiving support from leading venture capital firms, including Multicoin Capital.
This Sei Network Airdrop Guide has provided information about the Sei Network, its ecosystem, and how to qualify for the airdrop. With this knowledge in mind, you can take advantage of the airdrop and reap its rewards while it lasts.
Related Article: LayerZero Airdrop Guide (2023): Step by Step To Get Free $ZRO
Who founded SEI Network?
Sei Network’s head and co-founder is Dan Edlebeck. He used the network to make possible a new echelon of DeFi products in his capacity as a linker of thought leaders and achievers in the blockchain space.
How many TPS can the SEI network carry out?
Sei promises a system that can process 22,000 transactions per second (TPS). It also emphasizes providing a CeFi trading experience with DeFi tools.