The post Jellyverse Launches Synthetics Protocol ‘jAssets’ on Sei appeared on BitcoinEthereumNews.com.

[PRESS RELEASE – Vaduz, Liechtenstein, January 21st, 2025] Jellyverse, a community-driven DeFi platform on the Sei network, today announced the upcoming launch of its synthetic assets protocol, jAssets. The fully decentralized jAssets protocol allows users to mint synthetic tokens that approximately track the value of traditional assets tied to real-world assets (RWA) like stocks, commodities, and precious metals. This development follows a successful integration vote by the Jellyverse DAO. By locking up cryptocurrencies as collateral, users can issue jAssets such as jNVDA (Nvidia), jMSTR (MicroStrategy), jAAPL (Apple), jTSLA (Tesla), and jMETA (Meta), enabling them to diversify their portfolios. This over-collateralized system ensures that the value of the collateral exceeds the synthetic assets, maintaining stability and reliability within the platform. “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,” said Benedikt Keck, Co-Founder of BLKSWN PTE. LTD. “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 jAssets protocol offers several unique features. Users can mint synthetic assets using various cryptocurrencies as collateral, which provides exposure to real-world assets without leaving the blockchain ecosystem. 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 benefits from 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. Launching on the Sei…

---

Filed under: News - @ January 21, 2025 5:23 pm