This Monday, it was announced that Sei Labs has implemented v6.4 on its mainnet, a critical step forward in the SIP-3 migration. This update introduces the technical capability to disable incoming transfers via the IBC (Inter-Blockchain Communication) protocol, marking the beginning of the end for native compatibility with the Cosmos ecosystem within the network.
With this integration, Sei seeks to consolidate itself as a network exclusively focused on EVM (Ethereum Virtual Machine). Although the asset restriction will not be immediate until a specific governance proposal is approved, the impact will be profound: once active, tokens such as Noble USDC and Kava USDT will no longer be able to be bridged to Sei. This forces users to migrate their DeFi positions and exchange IBC assets for EVM equivalents to avoid liquidity loss.
To move forward on this path, users must swap their assets or return them to their source chains before the governance execution. Sei Labs is already planning future updates to restrict IBC outflows and optimize its native oracle solution, culminating in its detachment from its Cosmos roots.
Source:https://blog.sei.io/announcements/sei-v6-4-is-live-on-mainnet-what-it-means-for-ibc/
Disclaimer: Crypto Economy’s Flash News is prepared from official and public sources verified by our editorial team. Its purpose is to provide quick information on relevant facts within the crypto and blockchain ecosystem. This information does not constitute financial advice or investment recommendations. We always recommend verifying the official channels of each project before making related decisions.
