News Report Technology
June 10, 2024

Jellyverse Launches JellySwap, JellyStake, And jAssets On Sei, Unveiling Pool Party Event

In Brief

DeFi platform Jellyverse unveiled the launch of Jellyverse ecosystem, along with its DEX JellySwap on the Sei blockchain.

Jellyverse Launches JellySwap, JellyStake, And jAssets On Sei, Unveiling Pool Party Event

Decentralized finance platform Jellyverse (JLY) unveiled the Jellyverse ecosystem, along with its decentralized exchange (DEX) called JellySwap on the Sei blockchain.

Jellyverse incorporates various decentralized finance (DeFi) tools and introduces DeFi 3.0 with the introduction of jAssets, an economic system facilitating the trading of decentralized assets, thus offering new avenues for portfolio diversification.

New protocols introduced within the Jellyverse ecosystem encompass JellySwap, a Balancer-friendly fork designed to integrate “WeightedPools” supporting up to eight different tokens, and ‘composable stable pools’ enabling users to tailor investment ratios with up to five tokens per pool. Meanwhile, the JellyStake staking protocol will involve the community in governance processes, rewarding stakers with protocol revenues. Additionally, jAssets, a synthetics protocol, will facilitate the creation of tokens tracking price feeds of real-world assets (RWA), spanning from stocks to commodities.

Furthermore, in celebration of the launch of Jellyverse, the platform will host the Pool Party event, providing the community with a distinctive opportunity to acquire JLY tokens. During the event, participants will have the chance to purchase JLY using SEI tokens, which will then be pooled with additional JLY to establish initial pool liquidity. The event is scheduled to commence at 12 pm UTC on June 11th and will run for 96 hours or until the token supply is depleted.

What Is Jellyverse?

Jellyverse is dedicated to advancing DeFi 3.0, which focuses on building a sustainable and yield-oriented ecosystem. Within this framework, users gain access to diverse protocols, each serving specific use cases and integrating RWA.

JLY functions as the central governance and utility token within the Jellyverse ecosystem. It empowers JLY stakers to engage in decision-making processes and impact key parameters across various protocols and decentralized applications (dApps) integrated within the Jellyverse platform.

Recently, Jellyverse incorporated the Sei Ecosystem‘s largest native wallet, Compass Wallet, into its platform. This integration allows users to navigate swaps, manage liquidity, create pools, and establish staking chests.

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

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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