Sei Network Launches Gitcoin Funding Round to Boost Ecosystem Development

The Sei Network has announced the commencement of its first Builders Round on Gitcoin, designed to acknowledge and financially support builders who have significantly contributed to the Sei ecosystem since the launch of Sei V2 on July 9, 2024. This initiative, according to Sei, offers two distinct funding tracks: Consumer-Facing Contributions and Infrastructure & Tooling.

Funding and Application Details

The total funding pool amounts to $750,000 in SEI tokens, with the valuation determined at the round's closure using a three-day TWAP from CoinGecko. The application window opened on February 17, 2025, and will close on February 26, 2025. Community voting and donations via the Gitcoin platform will commence on February 27, 2025, and the round will conclude on March 12, 2025.

Eligibility Criteria

To be eligible, applicants must be builders who have deployed tools, infrastructure, or on-chain applications natively on the Sei network. Projects should have gone live on Sei after the V2 launch or have made substantial upgrades post-launch. Eligible participants are defined as those who have maintained operational projects on the Sei Mainnet for at least 30 continuous days before the application period.

Track Details and Impact Metrics

The funding round is divided into two tracks, each with specific criteria for demonstrating project impact. The Consumer-Facing Track focuses on metrics such as user growth, transaction activity, and cross-project integrations. The Infrastructure & Tooling Track emphasizes network adoption, developer usage, and ecosystem enablement, with metrics like GitHub activity and API usage.

Community Voting Process

Funding allocation will be determined through community voting on Gitcoin, where only projects meeting the criteria will be accepted. Participants must hold at least 100 SEI tokens to vote, ensuring genuine community engagement. Additionally, no project can receive more than 10% of the total funding in either track, promoting a fair distribution of resources.

Application and Voting Process

Applicants must create a profile on Builder and apply to the appropriate track on Gitcoin’s Grants Stack. When donations open, community members can review and donate to their preferred projects using SEI tokens. Gitcoin pools these small donations and matches them with the larger central fund, allowing the community to influence funding distribution.

About Gitcoin

Gitcoin is known for its technologies that empower communities to fund and build essential projects. Through its Grants Program, it has distributed over $60 million to early-stage builders, particularly in decentralized finance (DeFi) and open-source initiatives. Core products include Grants Stack and Allo Protocol, which facilitate decentralized capital allocation.