- DeFi platform, Jellyverse is set to launch its DEX services on Sei Network.
- The platform introduces real-world asset trading in a novel DeFi 3.0 ecosystem.
- Airdrop confirmed with 1.7 million $JLY tokens set to be disbursed.
Jellyverse, a decentralized finance (DeFi) services platform, has announced it will be a launch partner of the Sei Network, which will launch its mainnet in the coming weeks. The platform will launch as the official fork of the Balancer platform, giving users access to the high throughput and low fees enjoyed on Sei Network.
Jellyverse will launch its native decentralized exchange, Jellyswap, within the Sei ecosystem, aiming to offer novel DeFi 3.0 capabilities to its users. The launch of Jellyswap will give users the same features enjoyed on Balance once it launches. By leveraging Balancer’s architecture, Jellyswap will introduce several pool designs, including weighted pools with up to 8 tokens within the pools in different ratios. Some of the pools include stable pools for highly correlated assets, stablecoins and token pools and other types of pools, allowing traders to easily trade on the new DeFi protocol.
In addition, Jellyverse also announced the launch of its staking service, JellyStake, which aims to bring real-yield rewards to stakers as well as a fully decentralized governance model. The launch of the Balancer-based protocol is a step forward to introduce a new DeFi ecosystem – DeFi 3.0 – which combines the speed, scalability and low fee cost of Sei Network and a revolutionary trading infrastructure.
Speaking on the launch of Jellyverse, Lipman, the Business Development Lead at Balancer, said:
“The Balancer community is thrilled to embark on this partnership with Jellyverse as we join forces to pioneer a new era of Defi innovation on Sei. By leveraging the Balancer protocol and Sei’s unique infrastructure, the talented Jellyverse team will be able to unlock unique opportunities for users and establish itself as a critical piece of Sei’s DeFi ecosystem.”
A New Look DeFi Ecosystem: Bringing Real-World Assets to DeFi
Despite the massive strides made within DeFi ecosystems, one key component has been difficult to integrate – assets from traditional finance. According to the team statement, this is a solution that Jellyverse will bring to the DeFi ecosystem. Via its innovative DeFi 3.0, Jellyverse will allow users to trade with crypto and synthetic real-world assets (RWA). These synthetic tokens will mirror the price of any real-world asset, including stocks, commodities, ETFs, precious metals etc., allowing DeFi users to trade on them within the platform.
This comes at a time when legacy financial institutions such as Blackrock are entering the crypto and digital assets space, introducing physically backed tokenized assets. With the launch of Jellyverse, users can swiftly make transactions and trade RWAs efficiently, given the high throughput that Sei Network provides.
The team selected Sei as their preferred blockchain due to this efficiency as well as their sustainable ecosystem and the excellence it shows within the EVM landscape. Additionally, the launch of Sei Network version 2.0 will introduce fast block times and low transaction fees, making it efficient and attractive for Jellyswap to flourish. Notwithstanding, Sei Network is also backed by strong crypto VCs such as Circle Ventures, and boasts a thriving ecosystem, making it well-positioned for the growing Jellyverse ecosystem.
Jellyverse Launches Staking Services and Its Airdrop
As mentioned above, Jellyverse’s launch on Sei Network will establish its DEX protocol, JellySwap, which doubles up as the native platform for the Jelly Token ($JLY). The non-custodial platform will allow users to easily manage their portfolios and act as liquidity providers, earning them $JLY rewards.
Jellyverse also announced the launch of JellyStake, a decentralized staking protocol where you stake your JLY tokens to increase rewards and voting power. The platform will be powered by the stakers and the protocol-generated fees throughout the Jellyverse ecosystem.
Finally, Jellyverse also announced the launch of jAssets, which are user generated tokens that are backed by cryptocurrencies and stablecoins to reflect the prices of real-world assets via real-time price feeds. These assets will allow users access to traditional assets and RWAs helping them diversify their portfolios.
To help bootstrap adoption rates to Jellyverse, the platform announced it will be airdropping up to 1.7 million $JLY tokens to over 30,000 participants. The airdrop gives participants who follow Jellyverse on social media platforms such as X (formerly Twitter), Discord and Telegram and retweet the airdrop tweet with up to 1,000 $JLY tokens.
Image by Gerd Altmann from Pixabay