Upbit Announces Listing of Layer 1 Blockchain SEI

Upbit, a globally recognized digital asset exchange, has announced the addition of a new digital asset, SEI, to its KRW and BTC markets. The announcement was made on August 14, 2023, and provides detailed information about the listing and associated guidelines.

SEI Token Listing Details

SEI, the native token of the Sei network, will be supported for deposits only on the Sei network (other networks like BSC will not be supported). The support for SEI deposits and withdrawals is scheduled to commence on August 15, 2023, at 21:00 KST.

Trading Guidelines

Trading Support Time: The exact time for the commencement of trading will be announced later.

Initial Order Limitations: For the first 5 minutes after the new digital asset is added, buy orders will be restricted.

Initial Price Limitations: The initial 5-minute sell order price limit will be announced later, reflecting other exchange rates.

Market and Reserved Order Limitations: For the first hour after the addition of the new digital asset, market and reserved orders will be restricted.

Deposit Considerations

Deposits from exchanges not included in the VV linkage (including account owner verification service linkage) list may require review and may take a long time to reflect or be returned.

Deposits and withdrawals are only possible to and from personal wallet addresses that have completed ‘ownership verification.’

High-value digital asset deposits with unclear origins may require origin verification, and if not completed by the trading support start time, the deposit may not be reflected.

Investment Risk Warning

Upbit has warned that digital asset investment is exposed to rapid price fluctuations due to speculative demand and changes in domestic and international regulatory environments. Investors are urged to carefully review project information and understand the characteristics of digital assets before trading.

About SEI 

SEI is a Layer 1 blockchain specialized in the DeFi sector, aiming to build a base layer for decentralized finance. It has built its own transaction settlement engine at the network level, shared by dApps built on Sei, to provide deep liquidity. SEI utilizes the Tendermint consensus algorithm’s efficiency and parallelization technology to improve network processing ability and block creation time. SEI tokens can be used for transaction fee payments, validator staking participation, on-chain governance participation, and as a payment method within the network.

Additional Information

SEI is the first project to be supported for trading both domestically and internationally. Initial token circulation is 1,800,000,000 SEI, approximately 18% of the total issuance of 10,000,000,000. Attention is needed regarding the network’s smooth operation and stability after network launching.

Binance has also announced the listing of Sei (SEI) along with CyberConnect (CYBER). Trading for these new assets is set to commence on August 15, 2023, at 12:00 (UTC), aligning with the timeline for SEI’s listing on Upbit.