Sei Network's SEIYAN Memecoin Steals Spotlight with 350% Growth

Seiyan Memecoin: A Cult Term for SEI Holders

A unique term has emerged within the Sei Network community - "Seiyan." SEI token enthusiasts have adopted this term as a cult-like identity. In a creative move, the community ran a vote to decide whether they should be called "seilors" or "seiyans," with the latter winning. This led to the birth of the SEIYAN memecoin.

SEIYAN has experienced an astonishing 350% gain in the last 14 days. The tokenomics, as outlined on Seiyan's website, reveal a strategic allocation plan:

• Circulating Supply: 600,000,000 SEIYAN
• Total Supply: 1,000,000,000 (Capped)

• 60% Initial LP
• 15% Team (to be vested)
• 15% Marketing & Business Development
• 10% Community Use TBD.

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The Seiyan Team's Vision: Integration and Utility Development

The Seiyan team is reportedly working towards integrating the SEIYAN token into every major SEI project throughout Q1 2024. With an emphasis on liquidity and growing interest within the Sei chain, the team anticipates not only CEX listings but also the development of SEIYAN's utility. This utility is expected to deeply intertwine third-party SEI projects, fostering a cohesive and interconnected ecosystem.

The protocol has also recently announced the SEIYAN Syndicate Program to expand the Sei Network ecosystem and support early $SEI tier 1 and/or critical infrastructure projects, backed by leading investors or influential stakeholders. According to the team, this initiative will include crowdfunded grants contributed by SEIYAN token holders at the seed stage.

“We will onboard projects that intend to actively work with the SEIYAN brand and community as marketing contracts,” The Seiyan team said. “Any tokens provided to the SEIYAN community from such projects will likely be distributed to syndicate directors who will then in return award syndicate participants on an equitable basis.”

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Sei Network's Recent Price Action

Sei Network's SEI tokens have emerged as a sensation, riding the wave of the parallelized Ethereum Virtual Machine (EVM) narrative. During the past week, SEI token holders have enjoyed remarkable gains of over 75%, making them the top-performing assets in crypto.

The network's SEI tokens swiftly reached a $400 million capitalization within the first 24 hours of issuance. As initial enthusiasm fuelled rapid growth, on-chain trading behavior remained relatively subdued in subsequent months.