The Sei Foundation has unveiled a major update for its community, announcing the distribution of over 27 million SEI tokens following the successful v2 upgrade.
This airdrop rewards active participation in the ecosystem since the Pacific-1 Mainnet launch.
Token Distribution Announcement
The Sei Foundation’s second airdrop aims to reward users of the Mainnet. Since last August, the Pacific-1 Mainnet has flourished, with over 100,000 addresses delegating voting power. NFT trading has surged, with users making half a million purchases, generating tens of millions of SEI in volume.
The airdrop will distribute over 27 million tokens to 43,052 addresses, focusing on active usage and participation. Wallet addresses were assigned points based on:
- Holding over 42 SEI or liquid-staked tokens.
- Owning two or more NFTs from the top eight collections by volume.
Read more: What are Crypto Airdrops?
Addresses holding over 2,000,000 SEI or more than 150 NFTs from top collections are excluded. The foundation has taken steps to ensure a more equitable distribution this time, addressing previous criticism.
Sei v2, the first parallelized Ethereum Virtual Machine (EVM) blockchain, is now live on Mainnet beta. This upgrade introduces sub-second transaction finality: the blockchain now confirms and finalizes transactions in less than one second, enhancing user experience. Advanced features like parallelized execution position it to compete with other parallelized EVMs such as Monad and Neon.
“With Sei V2 now live, the network offers the fastest time to finality and enhanced scalability, opening new opportunities for users and developers,” DevilK, a marketer at the Sei Foundation, said.
Read more: Which Are the Best Altcoins To Invest in May 2024?
The Sei Foundation’s token airdrop recognizes the contributions of existing users and attracts new participants to the ecosystem. Users should check their eligibility for the airdrop and stay informed about upcoming developments, as Sei continues to evolve and expand its offerings.
Despite the news, SEI is down 3.54% from the previous day, following the broader cryptocurrency market trend. At the time of writing, the token is trading at $0.530068, ranked 75th by market capitalization.
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