Jellyverse secures $2M seed funding for DeFi 3.0 on DeFiMetaChain

2023-12-5 17:00

Jelly Labs AG and Fintonomy LTD have secured $2 million in seed funding from private investors. The funds will drive the development of Jellyverse, a groundbreaking platform for advanced DeFi services built on the innovative DeFiMetaChain (DMC).

This initiative, led by the core team behind DeFiChain Accelerator, marks a pivotal step towards bridging real-world assets with DeFi applications.

Unveiling DeFi 3.0 on DeFiMetaChain

Jellyverse, initiated by the DeFiChain Accelerator team, is set to redefine the DeFi landscape with its groundbreaking approach. Unlike traditional DeFi platforms, Jellyverse integrates real-world assets seamlessly into its offerings, bringing forth the era of DeFi 3.0.

Built on the EVM-compatible Layer-2, DeFiMetaChain, Jellyverse taps into unparalleled interoperability by acting as a parasitic chain. This allows it to effortlessly connect with various blockchains, gathering essential data for developing cross-chain protocols that surpass current industry standards. Importantly, the platform offers a cost-effective solution, benefiting from lower gas fees compared to Ethereum.

Innovative features shaping Jellyverse’s future

Jellyverse introduces a suite of cutting-edge offerings, each playing a crucial role in advancing decentralized finance:

jAssets – Jellyverse’s community-built jAssets provide users with decentralized exposure to real-world assets like commodities and stocks. These assets, not directly mapped, but influenced by protocol mechanisms, enable diversified crypto portfolios, pioneering a novel way to engage with traditional financial markets. jUSD – It is a stablecoin based on the rigorously tested and proven stability mechanisms from LUSD by Liquity protocol. Decentralized Exchange (DEX) and other DeFi protocols – Jellyverse offers a range of protocols. The first is JellySwap, a decentralized exchange with extended functionalities based on Balancer. Then there is JellyStake for decentralized staking. Lastly, there is JellyBond which introduces the first bonding mechanism to DeFiChain. These protocols collectively enable self-balancing portfolio pools, liquidity provision, and amplified yields for token holders.

Jellyverse, governed by an on-chain DAO and powered by the native token JLY, positions itself as a comprehensive DeFi ecosystem, advancing towards sustainability and yield-oriented landscapes.

This injection of $2 million in seed funding propels Jellyverse into the forefront of DeFi innovation, promising a new era of decentralized financial services anchored in real-world assets on the DeFiMetaChain platform.

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