thenewscrypto.com
The community-driven DeFi platform Jellyverse, which is serving as Balancer’s official representative on the Sei blockchain, has announced the opening of its Jellyverse ecosystem and decentralized exchange (DEX) JellySwap. The “JellySwap” DEX, “JellyStake” staking solution, and “jAssets” synthetics protocol are all included in the platform.
By introducing DeFi 3.0 via jAssets and integrating DeFi tools, the platform opens up new avenues for portfolio diversification. One of the new protocols is JellySwap, a friendly-fork of Balancer that will enable up to eight distinct tokens via “WeightedPools” and “composable stable pools,” which let users create investment ratios with up to five tokens per pool. By compensating stakers with protocol revenues, the JellyStake staking protocol involves the community in governance. A synthetics protocol called jAssets makes it possible to create tokens based on real-world asset price feeds, such as those for stocks and commodities.
The platform, Jellyverse, is hosting its first-ever Pool Party event to commemorate its establishment. The community may get Jelly Tokens ($JLY) using a special way made possible by the token offering event. Members may purchase JLY using SEI tokens beginning on June 11 at 12 p.m. UTC and continuing for 96 hours, or until tokens run out. The SEI tokens are then pooled with more JLY to provide initial pool liquidity.
Santiago Sabater, Co-Founder at Jelly Labs AG:
“Our mission is to redefine DeFi by connecting it with real-world assets, ensuring robust and sustainable growth regardless of market trends. With the capabilities of JellySwap in combination with jAssets, Jellyverse stands to provide a new industry standard of enhanced portfolio diversification within the crypto space.”
Tritium, Balancer Maxi and Head of DevOps stated:
“With limited resources to explore cross-chain expansion, Balancer decided to consider friendly fork proposals as an alternative way to expand our technology in the rapidly growing chain-verse, The Jellyverse team was proactive, and through our shared connections with the SEI Foundation, they will be the first in this cycle to launch a friendly fork.”