While many layer-1 blockchains out there were built for a pretty general purpose, other networks were designed around very specific use cases.
Sei, a layer-1 blockchain designed for trading, has launched a $50 million ecosystem and liquidity fund to support new decentralized finance (DeFi) applications on its platform, its co-founders Jeff Feng and Jay Jog exclusively told TechCrunch.
“Ecosystem wise, if you think about all of crypto, especially on-chain applications, there’s only a few apps that have gotten actual product market fit,” Feng said. “Everything else is super, super early despite what valuations they have. Solana effectively is like a Series C startup with a huge valuation.”
With many layer-1 blockchains, a lot of things each are doing “is ‘startupy,’ it’s a hacker house – things that don’t scale but are huge for their ecosystem,” Feng said. “The few apps that have gotten product-market fit are like DeFi and stablecoins. We know for sure exchanges are here to stay.”
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