Cryptocurrency exchange Binance will add the Sei Network (SEI) blockchain token to the Binance Launchpool for farming by steaking BNB, TUSD and FDUSD.
Users will be able to connect to SEI pools for 30 days – from August 2 to August 31.
According to the company’s announcement, the number of coins for farming is 300 million SEI (3% of the total supply). There is a different daily reward for each pool:
BNB – 8 million SEI;
TUSD – 1.5 million SEI;
FDUSD – 500,000 SEI.
The main listing of the asset is scheduled for August 15
In April, the Sei Network team raised $30 million in funding at a valuation of $800 million. According to a statement from the developers, more than 120 projects have already been built on the network.
In parallel, the Binance Launchpool will feature a native token of the Web3-based social network CyberConnect (CYBER). Users will be able to farm the asset on similar terms with an offering of 2.4 million CYBER (2.4% of the total coin issue).
The placement of the token on the main platform will also take place on August 15.
Recall that in June, the venture capital arm of Binance announced investments in five “most effective projects”: Bracket Labs, DappOS, Kryptoskatt, Mind Network and zkPass.
As of the end of the first quarter of 2023, assets under management of the exchange’s investment department were valued at $9 billion.