With a startling 350% rise over the last 14 days, the native memecoin of the Sei Network, SEIYAN, has just seen a stunning surge. The launch of the SEIYAN memecoin, a special component that symbolizes the larger Sei environment, is credited with this increase. We explore the unique characteristics of SEIYAN, the identity of the Seiyan community, and the Seiyan team’s strategic direction.

The Cult Term for SEI Holders: Seiyan Memecoin

A new term has evolved in the Sei Network community: “Seiyan.” Dedicated holders of SEI tokens have adopted this name as their own identity, akin to a cult. The group came up with a clever idea to hold a poll to decide on their collective identity, and “seiyans” won out over “seilors.” The SEIYAN memecoin, which has gained an incredible 350% over the last two weeks, was born out of this decision.

The official website of SEIYAN presents a strategic allocation plan through its tokenomics. The community-driven strategy divides the 1 billion SEIYAN token supply, which is capped, into various categories such as initial LP, team (to be vested), marketing and business development, and community use.

The Vision of the Seiyan Team: Utility Development and Integration

In the first quarter of 2024, the Seiyan team hopes to see seamless integration and utility development for the SEIYAN token across significant Sei initiatives. The team aims to secure listings on centralized exchanges (CEX) and provide useful utilities for SEIYAN, while also emphasizing liquidity and generating interest inside the Sei chain. The objective of this utility is to create a unified and integrated ecosystem by deeply integrating third-party SEI projects.

The team’s dedication to growing the Sei Network ecosystem is evident with the unveiling of the SEIYAN Syndicate Program. With the backing of major investors or significant stakeholders, this program seeks to support vital infrastructure and early-stage SEI tier 1 projects. Crowdfunding contributions from SEIYAN token holders during the seed stage are part of the program, which emphasizes community involvement and teamwork.

The Recent Price Movement of Sei Network

Riding the story of the parallelized Ethereum Virtual Machine (EVM), the SEI tokens situated within the Sei Network have gained immense popularity in the cryptocurrency world. SEI token owners have had incredible gains of more than 75% in just the last week, placing them among the best-performing assets in the cryptocurrency market.

In the first day after release, the SEI tokens quickly reached a $400 million market capitalization. Though early excitement drove quick expansion, later months saw comparatively quiet on-chain trading activity.

The Rise of Seiyan and Sei Network’s Future

The remarkable rise of the SEIYAN memecoin highlights the active community and long-term goals of the Sei Network. The future looks bright for SEIYAN and the larger Sei ecosystem as the Seiyan team strives for integration, utility development, and community support. As the world of memecoins and decentralized ecosystems continues to change, investors and fans are keeping a close eye on Seiyan.