Where to find funding for a crypto project? Ecosystem Foundation Sei.
This article will be of interest primarily to Web3 developers. Today this industry is quite actively progressing and there is a shortage of such specialists. There are a lot of new projects on the horizon. And they all need specialists who will implement their ideas into program code.
It is also known that the work of a qualified specialist is quite expensive. Therefore, to develop a project, funding is needed. This is easier for ecosystem projects, as they are supported by large foundations, and more difficult for small projects that develop based on working blockchains. Very often foundations or grant programs are created for ecosystem development. This kind of funding helps projects find money and start on their way.
Also, very often an ecosystem is built already for a project that is not yet in Mainnet. For the future. We can see this in Aptos and Sui, for example. Aptos, for example, already has about 180 projects based on it.
A project like Sei has launched a $50 million ecosystem fund. This was recently announced by Sei’s founders, Jeff Feng and Jay Jog. Sei is an L1 blockchain specifically built for the order book. It is built using the Cosmos SDK and Tendermint Core. Its distinctive feature is its own order-matching mechanism. It provides scalability to the DEX order book built on Sei. Also, Sei, designed to scale with the needs of decentralized exchanges, has made several Tier 1 optimizations to give exchanges an edge.
Sei itself is still in testnet mode, but developers already have the opportunity to build projects on it thanks to the ecosystem fund.
According to Jeff Feng, co-founder of Sei, there are currently more than 50 teams in the Sei ecosystem, mostly from blockchains such as Solana, NEAR, Polkadot and the defunct Terra.
These are teams that had already raised venture funding and launched their apps, but felt that their current level 1 ecosystems lacked something that would allow them to really scale and provide a better user experience, so they came to us.
So far, Sei has not spent money on ecosystem grants, Feng noted. But the new fund will focus on developing the ecosystem and encouraging “good founders” to build blockchain applications.
What conclusions can be drawn. If you have a promising idea and experience in writing code, maybe even an entire team, various grant programs and ecosystem funds are the best solution to develop your project. I think it is worth paying attention to this direction.
You can learn more about the Sei project by following these links: