. @SeiNetwork has been performing relatively well in terms of L1 performance
In terms of just falling behind Solana in TPS, less than a second finality and many more.
what does the metrics tell you about the chain? something is coming...? 🧵
15% APR on USDC with @TakaraLend
10% APR on USDC with @YeiFinance
And all these protocols don't have a token yet and are running a points program.
Looks like @SeiNetwork is running a similar playbook as Sui did 2 years ago on incentivizing lending markets and boosting on-chain metrics.
Will they follow the market maker move as well...?
Yes or No, it's still a great farm right now.
🔹 TLDR
The SEI ecosystem is heavily focused on DEFI, Gaming, and Infra, and they have the stats to prove it.
In this thread, I'll do a little analysis on their state of DeFi, citing metrics from analytic tools...
Before you go further, you have to catch up with my DeFi eco thread on SEI...
🔹 DeFi on SEI..
Generally, SEI total users has peaked at 3 million all-time users (that's a huge number considering their on-chain product offering at the moment)
TVL looking strong at this level (good response to the upward movement we have been having in the market)
FYI- a huge chunk of this TVL is stablecoins being farmed on some of SEI's leading protocols.
SEI currently has over $240m in stablecoins and 80% in $USDC dominance, following their native USDC integration.
🔹 Dex volume showing off strength in the sub ~$10M range
Average mean txn of about 200k/day since July, we can only go up from here.
img 2 shows what the top 13 protocols on SEI look like with half of them having a net positive monthly change.
🔹 my thoughts.
As long as there's activity on a chain, there's room for many upside possibilities.
I've seen this happen many times (before a chain goes parabolic, it is first marked by real user activity) once everyone else clocks it, boom it goes...
I hope you found this insightful or valuable somehow. Feel free to support me on Substack, use my referral link, or just come chat with me on Medium Rare.
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