Binance is set to add Sei (SEI) to its Launchpool platform, enabling users to stake their BNB, TUSD, and FDUSD tokens in separate pools to farm SEI tokens over a 30-day period. The farming is scheduled to commence on August 2, 2023, at 00:00 (UTC).
Sei (SEI) is a layer 1 blockchain created to optimize the exchange of digital assets. As the 36th project on Binance Launchpool, SEI will be available for trading in SEI/BTC, SEI/USDT, and SEI/BNB pairs starting August 15, 2023, at 12:00 (UTC). The Seed Tag will also be applied to SEI.
The pertinent details regarding the Sei Launchpool initiative are as follows:
- Token Name: Sei (SEI)
- Total Token Supply: 10,000,000,000 SEI
- Launchpool Token Rewards: 300,000,000 SEI (3% of the total token supply)
- Initial Circulating Supply: 1,800,000,000 SEI (18% of the total token supply)
- Smart Contract: Sei Token (SEI)
- Staking Requirements: KYC is mandatory
Moreover, the hourly caps per user for each pool are as follows: 33,333.33 SEI for the BNB pool, 6,250 SEI for the TUSD pool, and 2,083.33 SEI for the FDUSD pool.