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Binance has announced support for the Sei (SEI) network upgrade scheduled for September 16, 2024 at approximately 19:00.
Binance Sei (SEI) Will Support Network Upgrade
In preparation for the upgrade, the exchange will suspend token deposits and withdrawals on the Sei and Sei EVM networks starting at 18:00 on the same day.
The network upgrade will occur at block height 102,491,599 and token trading on the affected networks will not be affected. Binance will manage all technical aspects of the upgrade on behalf of its users.
Deposits and withdrawals will resume once the upgraded network is confirmed to be stable, and no additional announcements will be made after that.
What is Sei (SEI) Network?
Sei is an industry-specific Layer-1 blockchain specifically designed for DeFi, focusing on improving the order book and fast transaction execution. It is based on the Cosmos SDK and uses the Limit OrderBook (CLOB) that serves as the decentralized finance infrastructure within the Cosmos ecosystem.
Sei's highlights include anti-frontal processing measures as well as parallel processing to increase processing speeds and prevent frontal processing.
*This is not investment advice.