THE LIQUIDITY LAYER OF ON-CHAIN GAMES

hotspring_HQ avatar
Hot Spring ⚡︎ The Cozy World
@hotspring_HQSep 6, 2025

The Spaces featured an AMA hosted by Brian with Hanny, Business Development Manager at Cam, a Sei-native DEX aggregator. They explored Sei’s culture and momentum—active builders, collaborative community, fast-growing DeFi—then dove into Cam’s product strategy: multi-venue route optimization to deliver best swap rates, fast execution on Sei, low slippage, and transparent routing. Hanny noted Cam is only 3–4 months old with ~$10M TVL and partnerships across the Sei ecosystem and major wallets, while acknowledging early challenges integrating with larger DEXs and how community, ambassadors, and KOLs helped bridge connections. Beyond swaps, DeFi primitives on Sei (e.g., DragonSwap) leverage Sei’s speed and reduced MEV. On decentralization vs efficiency, Cam emphasizes on-chain, transparent routing and decentralized liquidity while keeping performance high. Looking ahead, Cam will iterate quickly rather than keep a rigid roadmap, with two key directions: aggregating perpetuals liquidity and embedding swap features directly into tokenized games for seamless UX. The session closed with ecosystem collaboration plans, upcoming campaigns around TGEs, and a 100 SEI giveaway for 10 creators.

AMA Summary: Cam Aggregator on the Sei Ecosystem

Participants

  • Brian — Host (gaming-focused community; ran the AMA and rewards)
  • Hanny (also transcribed as “Honey”) — Business Development Manager (BDM), Cam Aggregator on Sei

Context and Rewards

  • Session focus: decentralized exchange aggregation, liquidity routing, and DeFi/gaming intersection on Sei.
  • Giveaway: 100 SEI shared by 10 creators. Winners announced by Brian: Sanika, humble, a silver frt, Dave, Virgos, Code Ox (final confirmation to be re-announced in their private group for eligible “cozy creators”).

The “Sei Spirit” and Ecosystem Culture

  • Hanny’s view: Every chain has a unique culture; Sei stands out for recent strong growth in token performance and DeFi TVL, approaching previous highs.
  • Momentum and activity: Hanny highlighted very active builders and communities on Sei, citing examples like DragonSwap (token launch), J Finance/Jakarta Finance (regular staking/trading events), and other native projects frequently running campaigns. She emphasized that project teams, community members, and ambassadors on Sei are approachable, share candid product feedback, and collaborate like a “mutual family.”
  • Timing: Hanny expects continued optimism into the next alt season (she referenced Q3 as a possible window) given current engagement and builder cadence on Sei.

DeFi User Acquisition: Cam’s Approach on Sei

  • Stage and scale: Cam is relatively new (≈3–4 months building/promoting on Sei), reporting roughly $10M TVL (as stated by Hanny).
  • Market positioning: Few native aggregators exist on Sei; Hanny mentioned Symphony and Cam among the native options.
  • Strategy:
    • Community-first: Close listening to native Sei users, KOLs, and experienced builders to align product features with what DeFi users want in an aggregator.
    • Deep liquidity integration: From inception, Cam prioritized integrating “almost all” major liquidity pools on top DEXs to enable best-path (smart) routing.
    • Execution characteristics: Competitive swap rates and very fast swap execution; API-level responsiveness was emphasized.
    • Partnerships and distribution: Hanny said Cam is listed in the Binance app and partnered with Binance Wallet and Bitget Wallet, alongside collaborations with a wide range of native Sei projects.

Technical Focus: Liquidity Routing and Why It Matters

  • Core value: Cam aggregates liquidity across multiple DEXs and other sources to maximize user output, reducing the need for manual price checks.
  • Practical example (Hanny’s illustration): If DEX A returns 6 tokens and DEX B returns 7 for a given input, Cam can split the order across both to net ≈9–10 tokens instead of only 6 or 7, depending on optimal routing.
  • Sources: Hanny cited “over a dozen” sources within the Sei ecosystem, mentioning DragonSwap, J/Jakarta Finance, and lending venues (e.g., Takara, J Finance per the discussion). Cam scans routes and executes quickly leveraging Sei’s high throughput.
  • Transparency: Cam displays route details so users can see exactly how trades are executed, reinforcing trust and control.

Balancing Efficiency and Decentralization

  • Hanny’s stance: Efficiency and decentralization are not mutually exclusive on Sei. Cam leverages Sei’s high-performance, parallelized blockchain design and decentralized orderbook to achieve:
    • Fast confirmations with minimal slippage and low fees.
    • Transparent, on-chain routing decisions.
    • Fairness and “checklessness” under Sei’s consensus (Hanny referenced a “secure DBOs consensus” in the call), ensuring users get best-available rates without sacrificing decentralization.

DeFi Primitives on Sei (Beyond Spot Swaps)

  • Highlighted example: DragonSwap uses an AMM model but benefits from Sei’s fast finality and low fees. Hanny emphasized a built-in matching engine on Sei that reduces front‑running and speeds trade finality, which is “a big deal” for DeFi trading.
  • Incentives: Liquidity pools and farming are prominent, encouraging LP participation through fees and rewards.
  • Outlook: Lending, staking, aggregators, and cross-chain integrations should continue evolving; products will likely become more capital-efficient as the ecosystem matures.

Biggest Challenges and How Cam Addressed Them

  • Early friction: As a new brand, Cam sometimes struggled to get timely responses from large DEXs for integration—partly due to market caution around scams.
  • Mitigation:
    • Technical: They solved almost all integration issues that fit Cam’s roadmap.
    • Ecosystem navigation: Leveraged public resources and maintained close ties with what Hanny called “Safe Horizon” (context suggests the Sei Foundation or core ecosystem facilitators) to connect with partners.
    • Community bridges: Worked with ambassadors, KOLs, and experienced builders for referrals and marketing support.

Differentiation vs. Other Aggregators

  • Unique selling points (per Hanny):
    • Best swap rates and fastest response times on Sei among current competitors.
    • Security and stability in integrated routing.
    • Clear, user-friendly UI that shows routes and supports newcomers.
    • Supportive community and prompt user assistance.
  • Validation: Hanny said she conducted internal research comparing Cam to other DEX/aggregators on Sei (not yet public), and feedback from traders and native ambassadors commonly cites Cam’s superior swap rates.

Roadmap, Initiatives, and Experimentation

  • Product philosophy: Rather than a rigid roadmap, Cam rapidly tests and iterates ideas to extend reach and utility.
  • Two reveals from Hanny:
    1. Perpetuals aggregation: Exploring ways to aggregate liquidity in perpetual markets for Sei users.
    2. In‑game swapping: Inspired by Sei’s gaming focus and discussions at “Sei Gaming Day (GM 2025) in Hanoi,” Cam is exploring embedding a token swap feature directly inside games that already have their own tokens. This could deliver a seamless in‑game DeFi experience if/when game tokens are live.

Gaming–DeFi Convergence: Community Notes and Next Steps

  • Host perspective (Brian):
    • Sei has native USDC support and a strong DeFi wave underway; he sees DeFi as the first growth narrative for a Layer 1, which then pulls momentum into other verticals (like gaming).
    • His team is exploring how to integrate DeFi rails (liquidity, swaps, business models) into games from projects mentioned in the call (e.g., Hostering, archanter from Nicholas, Kawai Puzzle), aiming to enhance liquidity and build new in‑game economies.
    • Potential collaborations: Brian mentioned plans to work with top Sei DeFi projects—Cam, “kakarallan,” and “Yakap/Yaka Finance”—over the coming months.
  • Cam’s openness: Hanny expressed interest in partnering with gaming communities like Hot Spring/Nicole and running trading campaigns around upcoming TGEs for gaming tokens on Cam, with additional rewards for communities.

Key Takeaways

  • Sei’s DeFi traction is rising: Growth in TVL, highly active native projects, community-driven collaboration, and improving infrastructure are attracting both builders and users.
  • Cam’s edge lies in execution and aggregation depth: Broad liquidity integrations, smart routing, very competitive rates, and fast execution built on Sei’s performance profile.
  • Community and partnerships matter: Cam’s early growth (≈$10M TVL, 3–4 months) is tied to native KOLs/builders, wallets, and project partnerships across Sei.
  • Forward-looking features: Cam is exploring perps aggregation and in‑game swap UX to align with Sei’s gaming narrative and drive seamless user journeys.
  • Ecosystem challenge remains integrations and maturity: As Sei is still young relative to older L1s, some integrations require time and relationship-building, but momentum and support structures are improving.

Action Items and Follow‑ups (Implicit)

  • Cam: Continue integrations, publish comparative research when ready, advance perps aggregation R&D, and pilot embedded swap features with gaming partners.
  • Gaming partners/host’s team: Coordinate with Cam, Takara/J Finance/Yak(a)p Finance (as referenced) on joint campaigns, token‑based in‑game liquidity features, and education.
  • Community: Test Cam’s aggregator (cam.agg per Hanny’s mention), compare routes/rates first‑hand, and participate in upcoming trading campaigns and rewards.

Closing

  • Mutual appreciation between host and Hanny for the session and community participation.
  • Rewards recap and note: Final confirmation to be posted in the private group for the eligible creators.