Jellyverse Brings Its Revolutionary DeFi 3.0 Ecosystem to Sei Network As the Official Fork of Balancer
In Brief
While the DeFi industry has made impressive advancements in digital token interaction, it hasn’t been able to integrate asset classes from traditional finance. Jellyverse is building the next generation of DeFi — DeFi 3.0 — to take DeFi to new heights by introducing innovative offerings that make synthetic crypto tokens available to DeFi users
Vaduz, (Liechtenstein), April 29, 2023 – Jellyverse, a platform for advanced decentralized financial services, today announced that it will be a launch partner of Sei Network as the official fork of Balancer on the high-throughput chain. As Sei Network prepares to go live on the mainnet, Jellyverse is proud to be one of the first DEXes in the Sei ecosystem, giving users access to a comprehensive DeFi ecosystem from Day One.
JellySwap, the native DEX of Jellyverse, will give users the same feature set as Balancer upon mainnet launch. The use of Balancer architecture allows for a multitude of pool designs including weighted pools with up to 8 tokens in any ratio, stable pools for highly correlated assets and many other pool types that are crucial for a new DeFi protocol. Jellyverse’s decentralized staking protocol JellyStake will also become available, bringing real-yield to all stakers and a fully-decentralized governance model.
Lipman, the Business Development Lead at Balancer, said, “The Balancer community is thrilled to embark in 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.”
Trading with crypto and synthetic Real-World Assets (RWAs) and ensuring swift transactions are at the heart of Jellyverse, and Sei Network provides this essential infrastructure with unmatched efficiency. Furthermore, the Sei team’s relentless drive and steadfast commitment are clear indicators of their dedication to creating a sustainable ecosystem, showcasing their efforts to excel within the EVM landscape.
Jellyverse made Sei its home because it offers:
- Fast Block Time: Sei v2 promises a block time of 390 ms, making it one of the fastest blockchains. This significantly improves transaction throughput and user experience.
- Low Fees: The combination of fast block times and efficient parallel processing is expected to keep transaction fees on Sei v2 low in the future, making it an attractive platform for both developers and users.
- Strong Backing: Investments from crypto giants like Circle Ventures underscore the confidence of individual market participants in the project.
- Thriving Ecosystem: The introduction of a parallelized EVM and improvements like SeiDB show that Sei v2 is well-positioned for a rapidly expanding ecosystem.
While the DeFi industry has made impressive advancements in digital token interaction, it hasn’t been able to integrate asset classes from traditional finance. Jellyverse is building the next generation of DeFi — DeFi 3.0 — to take DeFi to new heights by introducing innovative offerings that make synthetic crypto tokens available to DeFi users. These synthetic tokens mirror any given price feed in the real world such as stocks, commodities, ETFs and more. As BlackRock and other TradFi institutions look to introduce physically backed tokenized assets, Jellyverse is prepared to utilize the new token diversity and include them into its different protocols.
Some of the first offerings on Jellyverse are:
- JellySwap: A cutting-edge DEX with extended functionalities based on Balancer. It is home to the Jelly Token ($JLY). JellySwap is a fully decentralized exchange serving as a non-custodial portfolio manager and liquidity provider.
- JellyStake: JellyStake is a decentralized staking protocol where you stake your JLY tokens to increase rewards and voting power. JellyStake is not only powered by inflation but also by protocol generated fees throughout the whole ecosystem.
- jAssets: User-generated tokens backed by cryptocurrencies that reflect the prices of stocks, commodities, or ETFs through real-time price feeds. jAssets thus allow indirect participation in traditional financial markets to diversify the crypto portfolio.
Community Token Airdrop
Jellyverse has also announced that it will be airdropping up to 1.7 million JLY tokens to up to 30,000 people. Every participant stands a chance to get their hands on up to 1,000 JLY tokens. All they have to do is follow Jellyverse on Twitter, retweet the Airdrop tweet, join Jellyverse’s Discord and Telegram.
About Sei Network
Sei is a Layer 1 blockchain that combines the advantages of Ethereum and Solana: the dominant development standard of Ethereum (EVM) with the performance of Solana. The V2 update for Sei makes it the first parallelized EVM. Serving as a new scaling approach for the Ethereum ecosystem while achieving even faster speeds than Solana. Sei launched its mainnet in 2023 and is already the fastest growing chain by DAUs, and a top 5 chains by NFT activity. The team is backed by Multicoin, Jump, Coinbase Ventures, Circle Ventures, and many more.
About Jellyverse
Jellyverse is a comprehensive ecosystem in the decentralized finance (DeFi) sector, overseen by its community through a decentralized autonomous organization (DAO). It focuses on the next iteration of DeFi — commonly termed as DeFi 3.0 — which aims to create a sustainable, yield-oriented landscape that integrates protocols with RWA. The decentralized platform provides several utilities designed to meet a variety of financial needs, all governed by its native token, JLY.
For more information, visit: Website | Twitter | Reddit | YouTube
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
More articles
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
