Sei, a leading decentralized finance (DeFi) platform, has released its Q1 2024 status report, highlighting several key points that showcase the platform's impressive growth and expansion. The report reveals that the Total Value Locked (TVL) in USD has seen a quarter-on-quarter increase of 714%, reaching $46 million, a growth rate that significantly surpasses the price increase.

The leading DEX in the Sei ecosystem, Astroport, has seen its TVL grow by 468% quarter-on-quarter, demonstrating the platform's ability to attract and retain users. The price of SEI has risen by 37% quarter-on-quarter, despite a 32% decrease in revenue in USD. This suggests that the platform's growth is driven by factors beyond just revenue.

The report also highlights the significant growth in NFT sales, individual buyers, and individual sellers, with MRKT leading the growth in the NFT market. The quarter-on-quarter growth rates for these metrics were 2936%, 2429%, and 2419%, respectively, indicating a strong demand for NFTs on the platform.

The launch of liquidity staking protocols SiloStake and Kryptonite has resulted in 8.4 million SEI participating in liquidity staking, demonstrating the platform's ability to attract and retain users. This growth is expected to continue as the platform continues to expand its offerings and attract new users.

In conclusion, Sei's Q1 2024 status report reveals a platform that is experiencing significant growth and expansion. The platform's ability to attract and retain users, as well as its growth in NFT sales and liquidity staking, are all indicators of a strong and healthy ecosystem. As the platform continues to evolve and expand, it is likely to remain a major player in the DeFi space.