The DeFi platform Jellyverse, which serves as Balancer’s sole partner on the Sei blockchain, has launched a new decentralized exchange (DEX) to encourage further growth in the DeFi sector.
The Jellyverse team unveiled the new ecosystem on Monday through a press release that was obtained. Three features have been announced: JellySwap, a DEX protocol; JellyStake, a staking solution; and jAssets, a synthetics protocol.
After the last cycle’s bear market impact, the decentralized finance industry has seen an incredible comeback. With the recent traction in lending, staking, real-world assets, and other areas, the cryptocurrency business is progressing rapidly.
According to Jellyverse, their most recent activity intends to provide a new means for the community to diversify their portfolios. The objective is DeFi 3.0, and the use of resources like jAssets, the DEX protocol JellySwap, and JellyStake is essential to reaching there.
A Balancer friendly-fork called JellySwap adds “WeightedPools” and can handle up to eight distinct tokens. Additionally, users can adjust their investment percentages by leveraging up to five tokens for each pool by utilizing “composable stable pools.”
JellyStake will provide a way for stakers to get incentives in the meantime. In contrast, jAssets offers a synthetics protocol that enables users to watch price feeds of Real-World Assets (RWAs), such as commodities and stocks, and produce tokens. Santiago Sabater, the co-founder of Jelly Labs AG, said in a statement:
“Our mission is to redefine DeFi by connecting it with real-world assets, ensuring robust and sustainable growth regardless of market trends”
According to Sabater, the DeFi 3.0 tools could open up a new avenue for portfolio diversification in the cryptocurrency market. Jellyverse announces the first-ever Pool Party event.
Jellyverse Unveils Inaugural Pool Party Event
Jellyverse has a new token offering planned for the community as it celebrates this milestone. On June 11 at 12 p.m. UTC, the platform’s inaugural Pool Party event will take place, offering players a special opportunity to win Jelly Tokens ($JLY).
The first liquidity pool will be created by pooling SEI tokens, which interested community members can purchase with JLY. The promotion will last four days or until no more JLY tokens are available.
