Sei Network Clears KYC and Face Scam Rumors Around Airdrop

The Sei Foundation has denied rumors of requiring KYC and face scans for the airdrop. The feature was related to a Discord-related experiment.

Sei Foundation, the entity behind the growth and adoption of Sei Network, has dismissed claims that it would require a facial scan and KYC for Sei’s incentivized testnet and airdrop. Rumors have been floating around in the media, and the Sei Foundation states they are “categorically false.”

Sei Foundation Rejects Facial Scanning Rumors for SEI Airdrop

There have been reports from crypto media outlets that Sei Network would require users’ KYC information and scans of faces to prove that users were human. The news angered the crypto community, but it turns out that the information has been misinterpreted.

Sei Foundation stated that it remains committed to the principles of an open-source and permissionless network. It clarified that the “Sei FND experimented with adding a face scan tool into Discord after receiving feedback that the Sei Discord channel had bot spam.”

1% of the total supply of SEI will be dedicated to the airdrop. It is also dealing with scammers creating fake SEI tokens as the crypto community gears up for an official token airdrop.

What Is Sei Network (SEI)?

Sei Network, built on Cosmos, is a layer 1 chain that provides trading benefits to users. Describing itself as a “decentralized NASDAQ,” it offers an infrastructure for DEXs, NFTs, and gaming, among other DeFi sectors. The team has stated it offers transaction finality of 600ms and a throughput of 22,000 transactions per second.

The team behind Sei Network has a lot of experience in traditional finance and tech. Employees have worked at Goldman Sachs, Robinhood, Google, and Nvidia.

SEI Has Multiple Developments Going for It

Sei Network recently announced that it had raised $30 million in two funding rounds. Investors include Jump, Distributed Global, Multicoin, Asymmetric, Flow Traders, Hypersphere, and Bixin Ventures. Foresight Ventures also offered $50 million in funding, bringing the total to $120 million from all funding rounds.

Much of the funding will go towards web3 growth and innovation. Sei has launched a $50 million ecosystem and liquidity fund to support new DeFi applications on its platform.