Sei partners with Graviton concentrated focus on the burgeoning Indian blockchain market
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 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 Indian founders and developers to accelerate their growth. The 16-week cohort cycle includes live learning sessions by experts, problem-solving sessions with peers, and access to a crypto-native community that allows for deeper networking and shared learning that can be leveraged throughout the product development cycle.
While the latest recent news with FTX is “disastrous for [crypto] ecosystem in the short term,” according to Jay Jog, co-founder of Sei Network, it does not affect their plans to continue building the necessary blockchain infrastructure that will enable secure and fast access to financial information. Instead, they continue to build a permissionless and highly customizable network for developers to build protocols on it Following the launch of the mainnet, Sei is poised to be the fastest blockchain in the world, purpose-built to provide traders with near-instant information on trades through their decentralized app.
The partnership with Graviton is important given the rapid growth of crypto in the Indian market. The share of Indian activity on decentralized financial platforms was 59%, according to recent data from the Economic Times of India, which is even higher than in Pakistan and Vietnam which are routinely cited as global hotbeds of crypto mass adoption. India stands out as a country with unique growth in demand for digital coins, according to a recent chain analysis report.
“India has one of the largest developer populations, the largest user base of crypto, and a thriving (web2) startup community – essential ingredients that will help India lead the global web3 industry. However, web3 entrepreneurs in India need a strong support ecosystem that can helping them overcome obstacles and build sustainable businesses Graviton seeks to meet this demand by partnering with global players in the industry, says Arpit Nik, CEO of Graviton.
Sei is doubling down on emerging markets to strengthen its developer ecosystem, and its recent focus on India reflects a broader effort to increase the penetration of decentralized finance in Asia’s unbanked population. “India has consistently proven to be an important market in DeFi in terms of developer talent and DeFi usage. Our focus on the Indian market is part of a concerted effort to attract developers and users in Asia to the growing Sei ecosystem. Sei’s new innovations significantly improve transaction speed and throughput in existing L1s, making it an ideal platform for DeFi in Asia, Jog continued.
“It’s a huge market that’s largely untapped,” said Eloisa Marchesoni, a tokenomics engineer. “The developer talent in this region is particularly inspired and there seems to be no stopping mass adoption despite the eventual position of the government. Whatever their government decides, Indians can still use cold storage wallets and LocalCoinSwap or similar P2P platforms (no KYC) to continue using and exchanging crypto to participate in DeFi (where no KYC is required),” Marchesoni continued.
Graviton is recognized as a leader in developing new cohorts of competent developers in India. Teams in Graviton that build on Sei will get priority consideration for Sei’s $50 million ecosystem fund, which will help raise awareness of Sei in the Indian market.
Graviton will help Sei develop and expand its ecosystem (developers and users), as well as create awareness of Sei in the booming Indian market. Graviton is led by an extremely talented and competent team of web3 veterans from India, and Sei is confident in Graviton’s ability to achieve great results in attracting talented web3 people from India to its accelerator. Teams in Graviton that build on Sei will receive priority consideration from Sei’s $50 million ecosystem fund.