Sei Network has confirmed airdropping its SEI tokens for the testnet validators and participants. What’s more, they have said that 3% of the total SEI token supply will be allocated to the first rewards pool known as “Season 1”. This means there is a good chance there will be a season 2 airdrop! In this article, we will explain what Sei Network is and what you can do to position yourself for the $SEI airdrop.

Sei Network ($SEI) Airdrop Step-by-Step Guide

Here’s how to get a potential Sei Network ($SEI) airdrop:

1. Complete Acts 2-3 of the Seinami Testnet missions. These Acts however do require technical knowledge, and can be found here. 
2. Complete Act 4 of the Seinami Testnet missions. It involves placing orders and getting liquidated on Vortex. Also community tasks such as referring friends to sign up for Sei and for them to refer others.
3. Mint Sei Sunken Treasure NFTs.

See below for more details.

What is Sei Network?

Sei Network is a layer-1 blockchain built with the Cosmos SDK, and is designed to become the preferred chain for decentralized exchanges (DEXs) in DeFi, NFTs, and GameFi. The blockchain is optimized to enhance the functionality of exchanges and provide the best user experience for their customers. They achieve this by incorporating a native order matching engine that enables DEXs built on the blockchain to be on par with centralized exchanges (CEXs) in terms of executing orders. As a result, the end users can trade tokens, NFTs, and in-game items much faster and at minimal cost.

Sei Network Ecosystem

In October 2022, Sei Network launched a $50 million Ecosystem and Liquidity Fund to support the development of new applications and help teams bootstrap liquidity going into mainnet launch. The fund was backed by some of the top venture capital firms such as Multicoin Capital and Delphi Digital. As of now, there are more than 50 projects building on the ecosystem, ranging from infrastructure to fiat on/off ramps.

Who is the Team behind Sei Network?

Jeffrey Feng and Jayendra Jog are the co-founders of Sei Network, which has a team of skilled professionals with previous work experience at renowned organizations like Airbnb and Goldman Sachs. The team is now raising Series A funding at a $400 million token valuation, according to The Block.

Does Sei Network have a Token?

Yes, Sei Network is planning to launch their $SEI token. The SEI token has several features on the Sei network including paying network fees, staking, governance, used as collateral, for tipping validators and trading fees.

3% of the total SEI token supply will be allocated to the first rewards pool, known as ‘Season 1’. This means that there is a good chance that there will be an airdrop for Season 2!

How to Receive Potential $SEI Airdrop?

The best way to receive $SEI airdrop is to interact with the Seinami Incentivized Testnet. Within the testnet, there are 4 unique acts (currently closed) consisting of various tasks to complete. These tasks are designed to stress test Sei’s validator usability and security. Each completed task awards points, which directly correspond to your $SEI token rewards. Once the testnet period is finished, the token rewards will be distributed according to the tallied scores of all validators and participants. The Seinami Testnet missions in order to receive a potential airdrop can be found here. A lot of these require technical skills, e.g. to try hacking into their exchange, which might prove to be difficult. However, Act 4 had several missions which involve growing the Sei ecosystem and simulating real-world trading. These tasks are easier to complete in order to get a Sei airdrop and are as follows:

1. Place limit order on Vortex (long or short and in any market).
2. Place market order on Vortex (long or short in any market).
3. Place multiple Long/Short orders in one transaction (i.e. a bundled order placement) in any market.
4. Get liquidated on Vortex.
5. Refer a friend to sign up on Sei.
6. Someone you referred, refers another.

Note that for tasks 1-4, it is not enough to just do the task. Users must also submit their transaction details and wallet address to the team for verification. There is also a cap on how many submissions users can do in one day. Check here for full details.

Mint Sei Sunken Treasure NFTs

All 4 Seinami Testnet Missions are closed. However, you can still mint Sei Sunken Treasure NFTs until 23rd April 2023, here’s how:

1. Go to https://seinetwork.io/treasure and connect your Keplr wallet.
2. Do at least 25 transactions on the Atlantic-2 testnet.
3. Send gifts to another users.
4. Claim your NFT.

Airdrop Review

When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

Likelihood of Airdrop: Sei has confirmed they will do an airdrop after the mainnet launch in the coming months.

Airdropped Token Allocation: 3% of the total $SEI supply will be airdropped in season 1.

Airdrop Difficulty: Some of the Seinami Testnet validator tasks are quite difficult as they require technical skills. Try completing the easier participant tasks first.

Token Utility: The SEI token has several functions on the Sei network, including paying network fees, staking, governance, collateral, tipping validators, and trading fees.

Token Lockup: There is no lockup period for the airdropped tokens.

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