Sei Foundation Second Airdrop Allocates Over 27 Million SEI Tokens

Sei Foundation announced its second airdrop on May 29th, completing "Phase 2" in preparation for the Sei V2 upgrade.

Sei Foundation Second Airdrop Allocates Over 27 Million SEI Tokens

Sei, a Layer 1 blockchain built on the Cosmos SDK platform, conducted its second airdrop, distributing 27 million SEI tokens to users in the early hours of May 29th (Vietnam time). This airdrop is part of "Phase 2," preparing for the launch of Sei V2 upgrade that will be compatible with EVM in the future.

Specifically, Sei allocated over 27 million SEI tokens to 43,052 active contributors since the Sei Mainnet launch in August 2023.

Sei has opened the gateway for users to check the airdrop eligibility conditions but claiming of SEI tokens is currently not enabled. Users need to complete the eligibility check before "Phase 3" of the Sei V2 update commences. During "Phase 3," eligible SEI tokens will be automatically transferred to users' wallets.

Sei's Second Airdrop is targeted at users who participated in enhancing the network security through staking and liquid staking, and holders of NFTs from leading collections within the Sei ecosystem. The snapshot was taken for stakers on May 16th and NFT holders on May 24th.

The amount of SEI tokens airdropped to eligible wallets will be distributed based on a points-based reward mechanism as shown below:

Criteria to Receive Sei Airdrop #2

Users holding 1 Point will receive 200 SEI. Those with 2 Points can claim 3,000 SEI, equivalent to approximately $1,650 USD, and those with 3 Points or more will receive 6,000 SEI (around $3,300 USD) at the time of writing.

Point Mechanism in Sei Airdrop #2

Readers can check the number of airdropped tokens here.

However, some users did not receive the airdrop despite meeting the eligibility criteria. Sei Foundation is currently addressing this issue and will provide updates soon for users to re-check.

According to a blog post from Sei Foundation on May 29th, this is only the second airdrop, hinting at more airdrops on Sei in the future, with this token allocation being part of the originally set supply reserved for airdrops.

Following a mixed reception to its initial airdrop which garnered negative feedback from the community, this latest airdrop not only erases previous concerns but also amplifies Sei's presence in the Layer-1 space, attracting more users to engage with Sei ahead of the upcoming V2 upgrade.

At the time of writing, SEI is trading at $0.53 USD per token, with minimal fluctuation following the airdrop announcement.

Chart of the SEI/USDT pair on Binance at 04:20 PM on May 29th, 2024