Sei V2 Launch: A Comprehensive Guide
Terrill Dicki May 15, 2024 16:12
A detailed explanation of the upcoming Sei V2 launch, including the three-phase rollout and its implications.
Introducing the Sei V2 Launch
The highly anticipated Sei V2, a proposed upgrade to the live blockchain, is on the horizon. This upgrade is expected to bring the first highly performant parallelized EVM into production, pending a Governance approval process.
The launch is scheduled to occur in three phases, each meticulously designed to ensure optimal network performance, set accurate expectations and minimize risk. By taking a measured approach to the rollout, Sei Contributors can conduct rigorous testing, monitor network stability, and guarantee that all third-party infrastructures are ready for users to begin using Sei at scale.
Phase 1: Governance
As a permission-less, open-source, delegated proof-of-stake network, Sei is governed by SEI token holders. Sei Labs engineers are set to notify validators about the readiness of V2 for Mainnet adoption via an onchain proposal. This will kickstart the Governance approval process, following numerous audits and ongoing optimizations discovered during the Sei V2 public Devnet.
Phase 2: Alpha Launch, Stability, and Third-Party Infrastructure Deployment
Once the Governance approval process is accepted, validators will begin to upgrade their software, and the existing Sei Pacific-1 Mainnet will be upgraded to “v2”. At this stage, deploying EVM-based contracts and beginning infrastructure integrations on Sei will become possible. Existing applications and tokens will continue to function as they did before the upgrade.
This phase is expected to span days rather than weeks, during which Sei Labs will monitor and report on chain stability. Certain functionalities, such as bridges, will require additional time to deploy to Mainnet before they can be utilized by the community.
Phase 3: v2 Ready
Upon achieving stable v2, an announcement will be made via the official Sei Twitter account, indicating that critical infrastructure such as RPCs, bridges, indexers, and multisigs are ready. Initially, a block gas limit will be in place for stability purposes. As demand increases, this limit will be raised to meet the needs of the community.
While this upgrade marks a significant stride forward, the work to continuously optimize Sei does not end here. The ultimate goal is to build a blockchain capable of supporting consumer-grade applications and serving millions of users.
Stay tuned for more updates on the Sei V2 launch.
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