News
Jellyverse Launches DeFi 3.0 Tools on Sei Blockchain
[PRESS RELEASE – Vaduz, Liechtenstein, June 10th, 2024]
Jellyverse, a community-driven DeFi platform, announced the launch of its Jellyverse ecosystem and its decentralized exchange (DEX) JellySwap, which serves as the official representative of Balancer on the Sei blockchain. The platform includes the DEX “JellySwap”, the staking solution “JellyStake” and a synthetic protocol called “jAssets”.
The platform integrates DeFi tools and introduces DeFi 3.0 through jAssets, creating new ways to diversify portfolios. The new protocols include JellySwap, a friendly fork of Balancer, which will feature “WeightedPools,” which will support up to eight different tokens, and “composable stable pools” which will allow users to customize investment ratios with up to five tokens per pool . The JellyStake staking protocol involves the community in governance, rewarding stakers with protocol revenue. jAssets, a synthetic protocol, enables the creation of tokens by following the price feeds of real-world assets, ranging from stocks to commodities.
To celebrate the creation of Jellyverse, the platform will hold its inaugural Pool Party event. The token offering event leverages a unique method for the community to earn Jelly Tokens ($JLY). Starting June 11 at 12:00 UTC and lasting 96 hours, or until tokens run out, members can purchase JLYs with SEI tokens, SEI tokens are then pooled with additional JLYs to create initial liquidity of the pool.
“Our mission is to redefine DeFi by connecting it to real-world assets, ensuring solid and sustainable growth regardless of market trends,” said Santiago Sabater, co-founder of Jelly Labs AG. “With the capabilities of JellySwap combined with jAssets, Jellyverse is able to provide a new industry standard for greater portfolio diversification within the crypto space.”
“With limited resources to explore cross-chain expansion, Balancer has decided to consider friendly fork proposals as an alternative way to expand our technology into the fast-growing chain,” said Tritium, Balancer Maxi and DevOps lead . “The Jellyverse team has been proactive and, through our shared connections with the SEI Foundation, will be the first in this cycle to launch a friendly fork.”
About Jellyverse
Jellyverse is a complete DeFi ecosystem, combining a decentralized exchange (DEX), staking, and a synthetic protocol. Governed by its community through a decentralized autonomous organization (DAO), Jellyverse is focused on the next iteration of DeFi, commonly referred to as DeFi 3.0, with the goal of creating a sustainable, yield-driven landscape that integrates protocols with price feeds of the real world. The platform offers various utilities designed to meet a wide range of financial needs, all governed by its native token, JLY.
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