MEXC launches $20M ecosystem fund to support Sei Network
Sei Network previously raised $5 million in funding in August 2022. According to a blog post published on Jan. 4, Singapore-based cryptocurrency exchange MEXC announced that it would allocate $20 million to support developments on Sei Network. A layer one Blockchain designed for trading, Sei Network's stated Features include native order matching, frontrunning protection, smart block propagation, and 600 milisecond on-chain trade settlement. Leo Zhao, investment manager of MEXC Ventures, commented: "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." . Last August, Sei Network raised a $5 million funding round from investors such as Multicoin Capital, Coinbase Ventures, Delphi Digit...