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DeFi 3.0: Jellyverse introduces trading of synthetic RWAsThe announcement also confirms the DEX will introduce trading of tokenized real-world assets such as stocks, ETFs and commodities to offer a more diversified portfolio to traders.
In an announcement this week, Jellyverse, a comprehensive DeFi ecosystem, announced the launch of its decentralized exchange, JellySwap. The DEX will launch in tandem with the launch of Sei Network on its mainnet, as the official fork of Balancer protocol, bringing real-world assets (RWAs) into the wider DeFi ecosystem.
According to the statement, JellySwap will leverage Balancer’s high throughput architecture to offer users a comprehensive trading ecosystem. The exchange will allow users to trade from a multitude of pool designs, including weighted pools with up to eight tokens in any ratio, stable pools for highly correlated assets and many other pool types, expanding the possibilities of trading on the DEX. In addition, Jellyverse will also launch its staking platform, JellyStake, allowing users to earn rewards while securing the platform.
“The Balancer community is thrilled to embark on this partnership with Jellyverse as we join forces to pioneer a new era of Defi innovation on Sei,” Lipman, the Business Development Lead at Balancer, said. “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.”
JellySwap will be the native platform for Jellyverse’s native token, Jelly Token ($JLY) and will serve as a decentralized portfolio management platform and liquidity provider for the Jellyverse ecosystem. JellyStake allows users to stake their $JLY tokens to earn rewards and gain additional voting power. The staking platform will be powered by inflation and the protocol-generated fees throughout the ecosystem.
Notwithstanding, Jellyverse will also introduce its novel synthetic assets, jAssets, which will be backed by crypto and stablecoins and reflect the prices of real-world assets such as commodities, stokes, precious metals and ETFs. These synthetic assets aim to offer users indirect access to traditional assets while providing them with more diversification opportunities.
Selecting Sei Network as its preferred blockchain to launch on arises from the efficiency that the blockchain offers and its essential infrastructure. Sei Network offers fast block settlement times, which provides a better user experience, and low transaction fees, which makes it an attractive platform for users with huge numbers of transactions. Additionally, Sei enjoys strong backing from crypto VCs such as Circle, increasing user confidence in the project.
DeFi 3.0: Jellyverse introduces trading of synthetic RWAs
The biggest change that JellySwap introduces is the tokenization of real-world assets. Despite the huge steps made by developers and innovators in the DeFi ecosystem, integrating traditional asset classes has been a major challenge. Jellyverse aims to provide a solution to this via its innovative DeFi 3.0 ecosystem.
The ecosystem will introduce tokenized 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, etc. This comes when major legacy financial institutions such as Blackrock have announced plans to introduce physically backed tokenized assets.
Finally, Jellyverse will launch its airdrop campaign aiming to disburse up to 1.7 million $JLY tokens to 30,000+ users. The airdrop will reward participants who follow and interact on Jellyverse’s social media pages and retweet the airdrop tweet on the platform’s X (formerly Twitter) page.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
