Hassan Maishera
On Wednesday, the Sei team announced via X that the Clovis testnet by Yei Finance is now live on the Sei Network. Yei is one of the most established protocols on Sei, and Clovis expands their scope.
One deposit, unified lending rates for crosschain DeFi, with Sei as the universal clearing layer. Yei Finance (Clovis) is a liquidity-abstraction layer that reunifies fragmented capital with turnkey cross chain DEX, money market, and bridge with on-demand global liquidity for any network and any assets. The newly developed architecture provides higher yields (lend + swap fees + bridge) for liquidity providers and near instant bridging liquidity for cross-network users.
Sei is a blockchain designed for fast, cheap financial transactions, combining the network effects of Ethereum with the performance of Solana. Sei has processed more than five billion transactions across more than 90 million wallets and has become the #1 EVM chain by number of active users. The team is backed by top investors such as Multicoin, Jump, Coinbase Ventures, and Circle Ventures – and includes talent from companies like Robinhood, Google, Coinbase, Databricks, Uber, and Goldman Sachs.
Sei is a high-speed Layer 1 blockchain tailored for the digital asset boom, from NFTs to DeFi. The blockchain intends to unlock a brand-new design space for consumer-facing applications.
Sei's security is anchored in a multifaceted approach that integrates advanced technology, stringent security protocols, and a commitment to transparent governance. At its core, Sei leverages a sector-specific Layer 1 blockchain architecture, designed specifically for trading, which inherently enhances its security profile by catering to the unique demands of decentralized exchanges (DEXes). This specialization allows Sei to offer unparalleled transaction speeds and reliability, crucial for DEX operations where even brief downtimes can have significant repercussions.
Its native coin, SEI is down 6.2% in the last 24 hours and is now trading at $0.06432 per coin.
