. @SeiNetwork has been performing relatively well in terms of L1 performance
In terms of just falling behind Solana in TPS, less than a second finality and many more.
what does the metrics tell you about the chain? something is coming...? 🧵
15% apr on USDC with @TakaraLend
10% apr on USDC with @YeiFinance
and all these protocols doesn't have a token yet and running points program.
Looks like @SeiNetwork running a similar playbook as Sui 2 years ago on
incentivising lending markets and boosting on-chain metric.
Will the follow the market maker move as well...?
Yes or No its still a great farm right now.
🔹 TLDR
SEI ecosystem is heavily focused on DEFI, Gaming and Infra and they have the stats to prove it.
In this thread I'll do a little analysis on their state of DeFi citing metrics from analytic tools...
Before you go further, you have to catch up with my DeFi eco thread on SEI...
🔹 DeFi on SEI..
Generally, SEI total users has peaked 3m all time users (that's a huge number considering their onchain product offering atm)
TVL looking strong at this level (good response to the up movement we have been having in the market)
FYI- a huge chunk of this TVL is stables being farmed on some of SEI's leading protocols
SEI currently has over $240m in stablecoins and 80% in $USDC dominance, following their native USDC integration.
🔹 Dex volume showing off strenght in the sub ~$10M range
Average mean txn of about 200k/day since July, we can only go up from here.
img 2 shows what the top 13 protocols on SEI look like with half of them having a net positive monthly change.
🔹 my thoughts.
As long as there's activity on a chain, there's room for many upside possibilities.
I've seen this happen many times ( before a chain goes parabolic, it is first marked by real user activity) once everyone else clocks it, boom it goes...
I hope u found this insightful or valuable somehow. Feel free to support me on substack, use my referral link, or just come chat with me on Medium Rare.
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