Sei Labs acquires indexing platform Bilinear Labs

Data indexing company Bilinear Labs has announced its acquisition by Sei Labs, with the team integrated into the development of Sei Network and Sei Giga. The platform will cease operations on September 14.

Bilinear is built using Rust, indexing hundreds of billions of on-chain events, and has launched an SQL query engine and BYOABI: users can bring their own contract ABI to decode events in real-time on any EVM chain. The company is located in Leon, Spain, with a team size of about 2 to 10 people, who will directly contact clients to complete the transition. The acquisition price has not been disclosed.

Sei Giga is positioned as a multi-proposer EVM layer network, with its internal development network previously achieving around 5 gigagas per second throughput using Autobahn consensus, aiming for faster block production and execution efficiency. The acquisition brings external indexing capabilities into the core engineering, reducing reliance on independent data providers.

With the independent query product being discontinued, original clients will need to switch to other indexing services or build their own. The talent will move to protocol labs, rather than continue selling APIs.

In market mechanics, this is a buyout of scarce Rust indexing engineers by a public chain lab: products can shut down, but the throughput roadmap cannot lack personnel. Beneficiaries are the execution and storage upgrades of Sei Giga; those under pressure are trading and analysis clients still subscribed to the Bilinear interface, as well as small indexing firms charging for multi-chain APIs. Funds will flow from the protocol treasury or lab budget to the founding team, without new token issuance.

The shutdown date has been locked in. There are no public interface migration commitments, effectively meaning an exit at the product layer and entry at the protocol layer.

Source: Public information