SEI Network. Lesson №3 - Protocols deployed on Sei [ENG Version]

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There are only two protocols currently deployed in test mode on the Sei Network, so this lesson is obviously not going to be long. But it will be quite interesting, because not many people know about the backstory of one of our heroes.

I want to note that these two protocols will not be the only ones in the Sei Network, and their list will be expanded soon, so stay tuned to
SEI ECOSYSTEM in the official Discord channel and look forward to further announcements!

It's time to dive a little bit into the history that most people for some reason forget to mention, although it is an integral part of this protocol and will help us take a closer look at it.

A long time ago, on February 17, 2022, a project like Retrograde was publicly introduced to the cryptocurrency community. It was built on the most promising blockchain, as many believed at the time, Terra.

The goal of Retrograde was to "create a master control key for Terra," that is, the protocol sought to push participants in the Terra ecosystem toward unity. At the heart of Retrograde was the creation of a meta-management protocol that would allow the community to integrate all the processes of voting for a decision in managing the ecosystem on a single platform.

In my opinion, this idea was quite interesting and had the right to life.
But, unfortunately, major attacks and management errors occurred on May 9, which led to the total collapse of the ecosystem and the loss of huge funds of ordinary investors. After such a set of circumstances, the developers of Retrograde decided to switch to another blockchain, Cosmos, and later merged with another project, Vortex, to achieve their goals together.

The two teams came together to support Vortex's mission of introducing derivatives trading on DEX platforms and to get on par with centralized exchanges; the Retrograde team brought its expertise in go-to-market strategy, developer resources, and the many connections it had gained during its time at DeFi.

This is how the Vortex we know was formed!

Vortex is a protocol that is a decentralized derivatives exchange that supports all existing IBC chains and is hosted on the Sei Network, allowing for all possible liquidity and, most importantly, a limit order book (CLOB).

Vortex's aim: to introduce blockchain-based trading derivatives, with the help of the Sei Network.

This protocol provides us with features such as:

• 📊 Trading perpetual contracts.
  Vortex, at the start, will provide up to 10x leverage, with very deep liquidity;
• 📖 CLOB.
  Vortex is built on Sei Network's fully decentralized limit order book, giving traders an unprecedented DeFi trading experience.
• 🔂 Cross-Collateralization.
  Vortex offers cross-collateralization, which means you can deposit any of the supported IBC tokens and use it as collateral.
• 📈 Cross margin trading.
  Leverage is supported for all positions on the same trading account, ensuring maximum capital efficiency

Pharaoh doesn't have as rich a backstory as Vortex, but there's no way to miss it. This protocol will complement the derivatives market with something that most centralized exchanges do not have, namely synthetic assets.

Pharaoh is an early-stage De-Fi protocol that enables the creation of synthetic assets based on smart contracts in the Sei Network.

A decentralized exchange to issue and trade synthetic assets plays a critical role in the success of any decentralized financial ecosystem. For the global internet user, synthetic assets reduce geographic and economic barriers to entry, cut out costly intermediaries and ultimately improve access to liquidity & deliver transaction efficiency.

But how will it be different from its competitors? Let's find out:

• Unparalleled UI/UX.
  One of the biggest barriers for people wanting to trade in DeFi is the complicated interface, which negatively affects the user experience. The main priority of Pharaoh's development team is to eliminate the complexities in order to make both the browser version and the mobile app as user-friendly and easy to use as possible. The only requirement for trading on Pharaoh is a device with Internet access, nothing more.
• New and creative assets/classes.
  People trading on Pharaoh will have full access to assets not yet available on DeFi. From traditional cryptocurrencies to forex and commodities. Pharaoh will usher in an exciting new era of trading for the DeFi community.
• Unmatched compatibility.
  Built on the Cosmos SDK, Pharaoh will have unrivaled compatibility with the Cosmos ecosystem. This will open up access to a huge number of investment and margin opportunities in synthetic spots, options, open-ended trading and more.

As we can see, although there are not many projects at the moment, they cover most of the needs of ordinary investors. They are pioneers on the Sei Network and will undoubtedly acquire the status of the best De-Fi protocols in the Cosmos ecosystem.

But remember, this is just the beginning! Imagine the possibilities that will be open to us in the near future, as the Sei ecosystem develops. The best is yet to come👀

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