{"id":43414,"date":"2023-01-04T17:27:55","date_gmt":"2023-01-04T21:27:55","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=43414"},"modified":"2023-01-04T17:27:58","modified_gmt":"2023-01-04T21:27:58","slug":"mexc-launches-20m-ecosystem-fund-to-support-sei-network","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mexc-launches-20m-ecosystem-fund-to-support-sei-network\/","title":{"rendered":"MEXC launches $20M ecosystem fund to support Sei Network"},"content":{"rendered":"\n
MEXC announced that it is launching a $20 million dedicated fund<\/a> to support the development of key projects on Sei Network.<\/h5>\n\n\n\n
\"MEXC
MEXC launches $20M ecosystem fund to support Sei Network<\/figcaption><\/figure>\n\n\n\n

In a blog post from January 4, Singapore-based cryptocurrency exchange MEXC<\/a> reported that it would set aside $20 million to fund Sei Network projects. <\/p>\n\n\n\n

Sei Network is a layer one trading blockchain that boasts native order matching, frontrunning prevention, smart block propagation, and 600 milisecond on-chain transaction settlement, among other features. MEXC Ventures' investment manager, Leo Zhao, said:<\/p>\n\n\n\n

\n

“AMM [Automated Market Makers] 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.”<\/p>\n<\/blockquote>\n\n\n\n

In August of last year, Multicoin Capital, Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, Flow Traders\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, and other investors contributed to Sei Network's $5 million investment round. <\/p>\n\n\n\n

Over 20 decentralized applications had already started to emerge in the ecosystem by that point. Sei claims to have 250,000 testnet users and a blockchain that can process about 22,000 orders per second. <\/p>\n\n\n\n

Similar to this, other decentralized solutions, including dYdX, decided to switch its blockchain from Ethereum<\/a> (ETH) to Cosmos to meet exchange trading requirements (ATOM). Ethereum just couldn't handle its orderbook of about 1,000 orders per second, according to developers.<\/p>\n\n\n\n

\n

“Decentralized exchanges are also the most underserved application in crypto. They demand a unique level of requirements for reliability, scalability, and speed that no other apps need. If a large exchange goes down for a few moments, it's catastrophic, but the same downtime is far more tolerable for most other application types.”<\/p>\n<\/blockquote>\n\n\n\n

At the moment, MEXC Ventures manages 300 portfolio firms with an estimated $100 million in assets. In the previous 24 hours, its parent MEXC exchange processed a total trading volume of about $600 million. The company's eternal future products, which debuted in Q4 2018, are well known.<\/p>\n\n\n\n

\n

#MEXC<\/use><\/svg><\/span><\/a> launches a $20M dedicated fund to support the development of key projects on @SeiNetwork<\/use><\/svg><\/span><\/a> \ud83d\udd25

Check out what @zhao_eth<\/use><\/svg><\/span><\/a>, investment manager at MEXC Ventures said about this initiative \u2935\ufe0f https:\/\/t.co\/EkqnTRntOA<\/use><\/svg><\/span><\/a> pic.twitter.com\/kRcCIpvjp1<\/use><\/svg><\/span><\/a><\/p>— MEXC (@MEXC_Official) January 4, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

<\/p>\n","protected":false},"excerpt":{"rendered":"

MEXC announced that it is launching a $20 million dedicated fund to support the development of key projects on Sei Network. In a blog post from January 4, Singapore-based cryptocurrency exchange MEXC reported that it would set aside $20 million to fund Sei Network projects. Sei Network is a layer one trading blockchain that boasts […]<\/p>\n","protected":false},"author":43,"featured_media":43416,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-43414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/IMG-20230104-WA0139.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/43414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=43414"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/43414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/43416"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=43414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=43414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=43414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}