Leading cryptocurrency exchange, Binance, has announced plans to list SEI Network’s native token, SEI, on August 15th. Preliminary trading data from Aevo’s pre-listing futures, which made their debut just this Wednesday, indicate an immediate post-launch price of $0,26for SEI. 
Upon its listing, SEI’s circulating supply will be 1.8 billion, constituting 18% of its total supply of 10 billion, as provided by Binance. Calculating with the debut price of 26 cents, this sets the cryptocurrency’s initial market capitalization at $486 million, thrusting it instantly among the top 100 cryptocurrencies in the market. 
Remarkably, as of the time of this report, SEI is yet to be traded on any other cryptocurrency exchange platform, as evidenced by data from <a href="https://www.coingecko.com/en/coins/sei-network" rel="noopener noreferrer nofollow" target="_blank">CoinGecko</a>. 
Post its Binance debut, the reference for the pre-listing futures will transition to the index price. Moreover, to ensure the price remains consistent with the spot market value, funding rates will be applied to traders. 
Essentially, these pre-listing futures will morph into perpetual swaps post the listing on the exchange. For those unfamiliar with the term, funding rates are periodic payments made by those holding bullish long or bearish short positions. 
In scenarios where perpetuals are traded at a premium compared to the spot price, long position holders will have to pay their counterparts holding short positions. Conversely, short position holders pay long position holders when perpetuals are traded at a discount. 
Aevo, acknowledging the pioneering nature of this product, has wisely imposed stringent position limits and open interest caps in these markets. Additionally, to enhance stability, the futures will be margined and settled using the dollar-pegged stablecoins, USDC.

Binance to List SEI network’s native token

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