Sei's recent progress is worth noting. The public chain is doing real work, not just making slogans, but gradually expanding the ecosystem step by step.

Let's start with the most straightforward aspect—user scale. Sei currently covers over 235 million potential users, and these are not theoretical numbers but actual contacts made through exchanges, wallets, fiat channels, and other ground-level channels.

Next, look at the on-chain data performance. Since the second half of 2025, contract interaction volume has increased by 60%, which is quite a significant growth. But what's more interesting is where the driving force comes from—not internal competition and iteration within DeFi, but the pull from payment applications and gaming ecosystems. This indicates that Sei still has potential in establishing practical applications, rather than just internal capital flow cycles.