Jellyverse (JLY), a decentralized finance (DeFi) platform on the Sei (SEI) blockchain, has introduced the launch of jAssets, an artificial asset protocol that permits customers to mint artificial tokens that improve the worth of conventional real-world property (RWAs). mirror. , based on the newest report shared with Finbold on Tuesday, January 21.
The brand new addition will permit DeFi buyers to diversify past customary crypto property and achieve publicity to conventional markets.
Concurrently comes the launch of the jAssets mainnet on Sei.
T-1 Day till the discharge of jAsset Mainnet!
If you happen to might tokenize an asset as a jAsset, what wouldn’t it be? Let your concepts be heard! pic.twitter.com/5oUVtkMqg1
— jellyverse (@jlyvrs) January 20, 2025
jAssets protocol
The jAssets protocol permits customers to make use of cryptocurrencies as collateral to concern artificial property akin to jNVDA (Nvidia), jAAPL (Apple), jTSLA (Tesla), jMETA (Meta), and jMSTR (MicroStrategy).
Benedikt Keck, co-founder of BLKSWN PTE. LTD, described the potential of jAssets concerning diversification inside DeFi:
“jAssets will revolutionize portfolio diversification in DeFi by providing a spread of modern funding methods together with lengthy, brief and leveraged positions, which is unprecedented for these asset courses in crypto. The flexibleness of the collateral permits customers to maximise their positions whether or not they use wETH, wBTC, JLY, SEI, USDC, USDT, FRAX or GEM or a mix of those property as collateral.”
– Benedikt Keck, co-founder of BLKSWN PTE. LTD,
The jAssets system is predicated on an over-collateralized mannequin, which means that the worth of the collateral will all the time be larger than that of the artificial tokens issued.
As of now, supported collateral choices embody cryptocurrencies akin to Wrapped Ethereum (wETH), Wrapped Bitcoin (wBTC), Jellyverse, Sei, USD Coin (USDC), Tether (USDT), Frax (FRAX), and Gems (GEM), with a number of collaterals that optimize capital effectivity.
Minimal collateral ratios vary from 110% to 150% relying on the asset.
Improvements inside jAssets Protocol
To make sure worth accuracy, jAssets Protocol integrates decentralized Pyth Community (PYTH) oracles and offers real-time artificial token worth feeds.
Accordingly, the platform permits customers to commerce 24/7, keep away from the dangers of exterior buying and selling stops and keep management over their investments.
Launching on the Sei Community, the quickest Layer-1 (L1) blockchain with parallel Ethereum (ETH) Digital Machine (EVM) compatibility, jAssets Protocol may present a low-cost buying and selling expertise.
The brand new protocol thus helps Jellyverse bridge the hole between DeFi and conventional finance (TradFi) and scale back customers’ dependence on cryptocurrency volatility, whereas concurrently gaining publicity to RWAs.