BingX Exchange Ventures into SEI Layer 1 Public Chain Project Launch

BingX, a prominent cryptocurrency exchange, is set to debut the SEI Layer 1 public chain project on August 15th, becoming an early adopter of the SEI coin launch within the COSMOS ecosystem. This strategic move aligns with SEI’s emphasis on DeFi, empowering it to achieve impressive transaction processing capabilities. BingX’s rigorous project evaluation process and ongoing monitoring showcase its commitment to providing a secure and reliable trading environment.

14 August 2023 – BingX, a leading cryptocurrency exchange, has unveiled its plans to introduce the SEI Layer 1 public chain project on August 15th. This launch positions BingX as one of the pioneering Centralized Exchanges (CEXs) to introduce the SEI coin. With an emphasis on bolstering decentralized finance (DeFi) applications, SEI operates as a layer 1 public blockchain within the COSMOS ecosystem.

SEI, boasting a substantial valuation of $800 million and backed by $100 million in funding, has rapidly emerged as a prominent player in the realm of public blockchains. Unlike counterparts like Aptos and Sui, SEI has opted to harness the power of the COSMOS ecosystem, a strategic decision that has allowed it to focus on DeFi initiatives. This approach has propelled SEI’s transaction processing capabilities to an impressive 20,000 transactions per second (TPS), marking an 80% increase over COSMOS. SEI’s innovative methodology involves parallel processing of blockchain transactions, distinguishing it from conventional queuing approaches.

To encourage community engagement, SEI has allocated 1% of its token supply for airdrops. The QA.BingX team has released a comprehensive airdrop guide, offering users clear instructions on accessing test tokens and earning points through participation in airdrop missions. By accomplishing specified tasks, participants can accumulate points that influence their token distribution in the airdrop event.

BingX is deeply committed to rigorous project evaluations, subjecting potential listings on its platform to comprehensive risk assessments. A dedicated team of skilled researchers evaluates the viability of new coin projects before granting them a spot on BingX’s esteemed spot trading platform. This stringent vetting process ensures that only projects adhering to the highest standards gain visibility.

Furthermore, BingX maintains active oversight over the performance and stability of listed projects even after their initial introduction. This continuous assessment enables BingX to reevaluate projects for potential inclusion on its Futures trading platform. This meticulous approach reflects BingX’s dedication to minimizing risks for traders and cultivating a secure and dependable trading environment.

Author: Terry KS

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