Jellyverse, the DeFi platform that serves as Balancer’s exclusive partner on the Sei blockchain, has launched a new decentralized exchange (DEX) as it targets further growth within the DeFi space.
The Jellyverse team revealed the new ecosystem via a press release shared with Crypto.news on Monday.
Announced features include a DEX protocol called JellySwap; staking solution JellyStake and a synthetics protocol dubbed ‘jAssets’.
Jellyverse integrates DeFi 3.0 tools
The decentralized finance market continues to see remarkable resurgence following the bear market impact of the last cycle.
As the cryptocurrency industry takes greater strides with the fresh traction in lending, staking, real-world assets and others, Jellyverse says its latest move aims at creating a new way for the community to diversify their portfolios.
DeFi 3.0 is that goal, with tools such as jAssets, the DEX protocol JellySwap and JellyStake key to achieving this.
JellySwap is a Balancer friendly-fork that introduces ‘WeightedPools’ and will support up to eight different tokens. There’s also ‘composable stable pools’ that users can tap into to customize their investment ratios, leveraging up to five tokens for every pool.
Meanwhile, JellyStake will offer an opportunity for stakers to earn rewards.
jAssets, on the other hand, provides for a synthetics protocol where users can create tokens and track price feeds of Real-World Assets (RWAs), including stocks to commodities.
“Our mission is to redefine DeFi by connecting it with real-world assets, ensuring robust and sustainable growth regardless of market trends,” Santiago Sabater, the co-founder of Jelly Labs AG, said in a statement.
The DeFi 3.0 tools stand to enable a new path to portfolio diversification in the crypto market, Sabater added.
Jellyverse unveils inaugural Pool Party event
As Jellyverse marks this milestone, it’s planned a new token offering for the community. The platform’s first Pool Party event will commence June 11 at 12 pm UTC, providing a unique chance for users to land Jelly Tokens ($JLY).
Interested community members will be able to buy SEI tokens, with these then pooled with JLY to generate the first liquidity pool.
The offer will be open for four days, or until the JLY tokens run out.