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Sei Network, the Layer-1 blockchain built with Cosmos SDK, announced it has established the Sei Foundation. The Sei Foundation is a non-profit organization that supports the Sei ecosystem.
The Sei Foundation will handle token grants, airdrops, requests for products, initiatives, delegation programs, and other important aspects of the Sei ecosystem. The Sei Labs team remains committed to developing the initial, open-source software that will be built on by a wide variety of teams on the permissionless Sei network.
Sei Network is a sovereign layer 1 blockchain within the Cosmos ecosystem that is still under development. It will serve as advanced infrastructure for DeFi applications, it has a natively integrated central limit order book exchange(CLOB).
It is an intermediate between an app-chain and a general-purpose Layer 1. Since it is made with the Cosmos SDK, it optimizes the blockchain for the function of DeFi and simultaneously provides an environment where various DeFi services can be implemented, allowing them to easily interact with each other.
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