Jellyverse, a DeFi platform that partners exclusively with Balancer on the Sei blockchain, has introduced a novel decentralized exchange (DEX) in a bid to expand further within the DeFi sector.
The Jellyverse team announced the new ecosystem through a press release shared with Crypto.news on Monday. Among the unveiled features are a DEX protocol known as JellySwap, a staking solution named JellyStake, and a synthetics protocol called ‘jAssets’.
Incorporating advanced DeFi 3.0 tools, Jellyverse aims to cater to the growing demands of the decentralized finance market, which has been experiencing a notable resurgence post the bear market influence of the previous cycle. With the cryptocurrency industry making significant advancements in lending, staking, real-world assets, and more, Jellyverse’s latest initiative seeks to provide a fresh avenue for users to diversify their investment portfolios.
The primary objective of DeFi 3.0 is to introduce innovative tools like jAssets, the DEX protocol JellySwap, and JellyStake to facilitate this diversification. JellySwap, a Balancer-friendly fork, introduces ‘WeightedPools’ supporting up to eight different tokens. Additionally, users can access ‘composable stable pools’ to customize their investment ratios using up to five tokens in each pool.
JellyStake will enable stakers to earn rewards while jAssets will offer a synthetics protocol allowing users to create tokens and monitor price feeds of Real-World Assets (RWAs) such as stocks and commodities.
According to Sabater, these DeFi 3.0 tools will pave the way for a new approach to portfolio diversification within the crypto market.
To celebrate this milestone, Jellyverse has organized its inaugural Pool Party event, scheduled to kick off on June 11 at 12 pm UTC. The event will provide an exclusive opportunity for community members to acquire Jelly Tokens ($JLY) by purchasing SEI tokens, which will then be pooled with JLY to form the first liquidity pool.
The token offering will be open for four days or until all JLY tokens are distributed.