The SEI digital asset has been added to the KRW and BTC markets of Upbit, a well-known digital asset exchange. The announcement, which gives comprehensive details on the listing and related rules, was made on August 14, 2023.
Only deposits made on the Sei network will be supported for SEI, the Sei network’s native token (other networks like BSC will not be supported). Beginning on August 15, 2023 at 21:00 KST, SEI deposits and withdrawals will be supported. However, deposits from exchanges that aren’t on the list for VV linkages (such account owner verification service linkages) could need to be reviewed and could take a while to reflect or be refunded.
Only personal wallet addresses that have successfully completed “ownership verification” are eligible for deposits and withdrawals. Deposits of high-value digital assets with hazy origins could call for origin verification; if it isn’t done before the trading support start time, the deposit might not be reflected.
Due to speculative demand and changes in both domestic and foreign regulatory contexts, Upbit has cautioned that investments in digital assets are susceptible to abrupt price adjustments. Before making a purchase, investors are recommended to carefully analyse the project’s details and comprehend the properties of digital assets.
Aiming to create a foundation for decentralised finance, SEI is a Layer 1 blockchain with a focus on the DeFi industry. To provide deep liquidity, it has created its own transaction settlement engine at the network level, which is shared by dApps developed on Sei. To enhance network processing capability and block formation time, SEI makes use of the parallelization technology of the Tendermint consensus method. For paying transaction fees, participating in validator staking, taking part in on-chain governance, and making payments within the network, SEI tokens can be used.
The first project to receive backing for both domestic and foreign trading is EI. There are 1,800,000,000 SEI in the initial token circulation, or around 18% of the 10,000,000,000 SEI that were issued. After network deployment, the network’s stability and seamless operation require attention. Along with CyberConnect (CYBER), Sei (SEI) has also been listed on Binance. Along with SEI’s Upbit IPO, trading for these new assets is scheduled to start on August 15, 2023, at 12:00 (UTC).