By: Christos Makridis
In the wake of the “crypto winter” and the collapse of FTX, Terra and others, there are still many blockchain companies that continue to build. Sei Network – a decentralized tier 1 that is building a network-wide order book exchange on the Cosmos ecosystem – today announces a new strategic partnership with Graviton – a cohort-based web 3 accelerator program that provides a platform for founders and Indian builders to accelerate their growth. 16-week cohort cycle includes live learning sessions from experts, troubleshooting sessions with peers, and access to a crypto-native community that allows for deeper networking and shared learnings that can be leveraged throughout the cycle of product development.
While the recent breaking news with FTX is “catastrophic for the [crypto] ecosystem in the near term,” according to Jay Jog, co-founder of Sei Network, does not affect their plans to continue building the necessary blockchain infrastructure that will enable fast and secure access to financial information. Instead, they are continuing to build a permissionless and highly customizable network for developers to build protocols on top of it.After its mainnet launch, Sei is poised to be the fastest blockchain in the world, purpose-built to provide traders with near-instantaneous trade insights through the their decentralized app.
The partnership with Graviton is important given the rapid growth of cryptocurrencies in the Indian market. The share of Indian activity on decentralized finance platforms was 59%, according to recent data from the Economic Times of India, which is even higher than that of Pakistan and Vietnam, which are regularly cited as global hotbeds for the adoption of mass of cryptocurrencies. India stands out as a country with unique growth in its demand for digital coins, according to a recent report by Chainanalysis.
“India has one of the largest developer populations, the largest cryptocurrency user base, and a thriving (web2) startup community – essential ingredients that will help India lead the global web3 industry. web3 founders in India need a strong support ecosystem that can help them overcome obstacles and build sustainable businesses. Graviton seeks to meet this demand by partnering with global industry players,” said Arpit Nik, CEO of Graviton.
Six is doubling down on growth markets to strengthen its developer ecosystem, and their recent focus on India reflects a broader effort to increase the penetration of decentralized finance into an unbanked population in Asia. “India has consistently proven to be an essential market in DeFi in terms of developer talent and DeFi usage. Our focus on the Indian market is part of an overall effort to attract developers and users in Asia to the growing Sei ecosystem. Sei’s new innovations significantly improve the transaction speed and throughput prevalent in existing L1s and make it an ideal platform for DeFi in Asia,” Jog continued.
“It is a huge market that is largely untapped,” said Eloisa Marchesoni, engineer at tokenomics. “The talent of developers in this region is particularly inspiring and there seems to be no stopping mass adoption despite any government stance. Regardless of what their government decides, Indians can still use cold storage wallets and LocalCoinSwap or similar P2P platforms (no KYC) to continue using and trading cryptocurrencies to participate in DeFi (where no KYC is required),” he continued. Marchesoni.
Graviton is recognized as a leader in developing new cohorts of competent developers in India. Graviton teams relying on Sei will receive priority consideration for Sei’s $50 million ecosystem fund, which will contribute to increased awareness of Sei in the Indian market.
Graviton will help Sei develop and grow its ecosystem (developers and users), as well as build awareness of Sei in the burgeoning Indian market. Graviton is led by an extremely talented and knowledgeable team of web3 veterans from India, and Sei is confident in Graviton’s ability to perform well in attracting web3 talent from India to its accelerator. Graviton teams that build on Sei will receive priority consideration for Sei’s $50 million ecosystem fund.