Jellyverse Expands on Sei With Its jAssets Tool

Jellyverse, a pioneering DeFi ecosystem on parallelized EVM blockchain Sei, kickstarts its synthetics ecosystem jAssets with tokenized Nvidia, MicroStrategy, Tesla and Apple stocks. The new protocol also goes live with a clutch of on-chain collateralization opportunities.

Jellyverse launches jAssets synthetics protocol on Sei: What to know

According to the official statement of its team, Jellyverse, a Sei-centric decentralized finance (DeFi) ecosystem, kickstarts its brand-new tokenized synthetics protocol jAssets. In its first iteration, it goes live with jNVDA (Nvidia), jMSTR (MicroStrategy), jAAPL (Apple), jTSLA (Tesla) and jMETA (Meta) on-chain synthetics pegged to the hottest U.S. stocks.

Jellyverse's newest development starts operating today, Jan. 21, 2024. The fully decentralized jAssets protocol allows customers to mint synthetic tokens that track the value of traditional assets, including the likes of stocks, commodities and precious metals.

The development was greenlit by a Jellyverse DAO in a recent community referendum. As such, all DeFi enthusiasts can deploy their own assets, pledging cryptocurrency as collateral.

Benedikt Keck, cofounder of BLKSWN, Jellyverse originator, is excited by the innovative design of the new tooling and the opportunities it unlocks for the global DeFi audience:

jAssets will revolutionize portfolio diversification in DeFi by offering a range of innovative investment strategies, including long, short, and leveraged positions, which is unprecedented for these asset classes in crypto. The collateral flexibility allows users to maximize their positions, whether using wETH, wBTC, JLY, SEI, USDC, USDT, FRAX or GEM or a combination of these assets as collateral.

The over-collateralized system of jAssets ensures that the value of the collateral exceeds the synthetic assets, maintaining stability and reliability within the platform.

More DeFi loan instruments for Sei community

From the onset of its operations, the platform also introduces multi-collateral troves, allowing users to optimize capital efficiency by utilizing multiple types of collateral, including USDT, USDC, FRAX, wETH, ssETH, JLY, SEI and wBTC, with minimum collateral ratios ranging from 110% to 150%.

In addition, the platform utilizes decentralized oracles, leveraging the Pyth Network for real-time, reliable price feeds, ensuring accurate minting valuations of synthetic assets. The protocol allows continuous 24/7 trading without the risk of external trading halts, empowering users to maintain full control over their investments.

The potential of Sei Network, a first-ever parallelized EVM blockchain, paves the way for a seamless trading experience, featuring low-fee transactions and cost-effective access to synthetic RWAs.