Jellyverse (JLY), a decentralized finance (DeFi) platform on the Sei (SEI) blockchain, has announced the launch of jAssets, a synthetic asset protocol that allows users to mint synthetic tokens that increase the value of traditional real-world assets (RWAs). reflect. , according to the latest report shared with Finbold on Tuesday, January 21.
The new addition will allow DeFi investors to diversify beyond standard crypto assets and gain exposure to traditional markets.
Simultaneously comes the launch of the jAssets mainnet on Sei.
T-1 Day until the release of jAsset Mainnet!
If you could tokenize an asset as a jAsset, what would it be? Let your ideas be heard! pic.twitter.com/5oUVtkMqg1
— jellyverse (@jlyvrs) January 20, 2025
jAssets protocol
The jAssets protocol allows users to use cryptocurrencies as collateral to issue synthetic assets such as jNVDA (Nvidia), jAAPL (Apple), jTSLA (Tesla), jMETA (Meta), and jMSTR (MicroStrategy).
Benedikt Keck, co-founder of BLKSWN PTE. LTD, described the potential of jAssets regarding diversification within DeFi:
“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 flexibility of the collateral allows users to maximize their positions whether they use wETH, wBTC, JLY, SEI, USDC, USDT, FRAX or GEM or a combination of these assets as collateral.”
– Benedikt Keck, co-founder of BLKSWN PTE. LTD,
The jAssets system is based on an over-collateralized model, meaning that the value of the collateral will always be greater than that of the synthetic tokens issued.
As of now, supported collateral options include cryptocurrencies such as Wrapped Ethereum (wETH), Wrapped Bitcoin (wBTC), Jellyverse, Sei, USD Coin (USDC), Tether (USDT), Frax (FRAX), and Gems (GEM), with multiple collaterals that optimize capital efficiency.
Minimum collateral ratios range from 110% to 150% depending on the asset.
Innovations within jAssets Protocol
To ensure price accuracy, jAssets Protocol integrates decentralized Pyth Network (PYTH) oracles and provides real-time synthetic token price feeds.
Accordingly, the platform allows users to trade 24/7, avoid the risks of external trading stops and maintain control over their investments.
Launching on the Sei Network, the fastest Layer-1 (L1) blockchain with parallel Ethereum (ETH) Virtual Machine (EVM) compatibility, jAssets Protocol can also provide a low-cost trading experience.
The new protocol thus helps Jellyverse bridge the gap between DeFi and traditional finance (TradFi) and reduce users’ dependence on cryptocurrency volatility, while simultaneously gaining exposure to RWAs.
