Jellyverse joins Sei Network as official Balancer fork, enhancing DeFi 3.0 ecosystem

2024-04-29 09:25:06 ET

Jellyverse, a platform known for its advanced decentralized financial services, announced today in Vaduz, Liechtenstein, that it will join the Sei Network as the official fork of Balancer.

As Sei Network gears up for its mainnet launch, Jellyverse is set to be among the first decentralized exchanges (DEXes) in the Sei ecosystem, providing users with a comprehensive DeFi platform from day one.

Innovative features and collaboration with Balancer

The native DEX of Jellyverse, JellySwap, will offer users a feature set identical to Balancer at the mainnet launch.

Utilizing Balancer’s architecture, JellySwap will support various pool designs, including weighted pools with up to 8 tokens, stable pools for highly correlated assets, and more.

Additionally, Jellyverse will introduce JellyStake, a decentralized staking protocol offering real yields and a fully decentralized governance model. Lipman, Business Development Lead at Balancer, expressed enthusiasm for this partnership, emphasizing the combined efforts to drive Defi innovation on Sei.

Sei Network’s infrastructure advantages

Sei Network’s infrastructure is central to Jellyverse’s operations, providing the necessary speed and efficiency for trading crypto and synthetic Real-World Assets (RWAs).

With a block time of just 390 ms promised by Sei v2, the network aims to enhance transaction throughput significantly and improve user experience.

Moreover, the network’s low fees and strong backing from major crypto investors like Circle Ventures make it an attractive platform for developers and users alike.

DeFi 3.0 and integration of traditional financial assets

Jellyverse is pioneering the next generation of decentralized finance—DeFi 3.0—by integrating traditional financial assets with digital token technology.

Their offerings include synthetic tokens that mirror real-world price feeds from stocks, commodities, and ETFs, enabling DeFi users to engage with a broader range of asset classes.

As traditional financial institutions like BlackRock move towards tokenized assets, Jellyverse is well-positioned to incorporate this new token diversity into its ecosystem.

Upcoming offerings and community engagement

Jellyverse plans to introduce several key offerings on its platform. These include JellySwap, a cutting-edge DEX with functionalities based on Balancer; JellyStake, a decentralized staking protocol where users can stake JLY tokens; and jAssets, user-generated tokens that reflect the prices of traditional financial assets.

Additionally, Jellyverse announced an airdrop of up to 1.7 million JLY tokens to encourage community participation and engagement through social media platforms and messaging apps.

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Jellyverse joins Sei Network as official Balancer fork, enhancing DeFi 3.0 ecosystem

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