Over 41% of the circulating supply of $SEI, the native token of Sei Network, is now staked on the network, according to data from Coinbase. The staking ratio stands at 41.20%, representing about 3.2 billion $SEI tokens staked, which gives Sei a staking market cap of $147.3 million. This figure contrasts with a total asset market cap of $357.5 million.
The current estimated reward rate for staking $SEI is 4.04%, slightly down from 4.07% a month earlier. Different data providers report varying staking ratios, with Staking Rewards showing 41.44%. Staking ratios are significant because staked tokens help secure the proof-of-stake network and are not available for immediate sale.
Sei Network's development agenda, particularly the Giga upgrade, could influence staking participation. The upgrade aims to achieve over 200,000 transactions per second and sub-400 millisecond finality. Sei Labs is rolling out the Giga upgrade progressively throughout 2026, with no single definitive launch date. The network is also transitioning to an EVM-only model, dropping its previous CosmWasm execution environment.
Validators and stakers recently participated in governance for the upgrade, with staked participation at 46.63% as of November 3, exceeding the proposal's 33.4% requirement. The Autobahn consensus component is part of the Giga upgrade, but audits, testing, and a public testnet remain on the rollout path. The future staking ratio will depend on factors like reward rates, token price, and progress on the Giga roadmap.