Jellyverse, a decentralized finance platform built on the Sei network, announced the launch of jAssets, enabling users to create synthetic tokens based on real-world assets.
Launch of jAssets Platform
jAssets allows users to mint synthetic assets that track the value of traditional assets like stocks and precious metals. This decentralized platform offers portfolio optimization through various investment strategies, including long, short, and leveraged positions. Following a successful Jellyverse DAO vote, jAssets will soon join the ecosystem. It operates as a collateralized debt system, requiring users to lock collateral to issue synthetic assets such as jNVDA, jAAPL, and others.
Collateral System and Features of jAssets
The Sei network provides the foundation for jAssets, being a fast and cost-effective Layer-1 blockchain. The assets are over-collateralized, ensuring the collateral value exceeds the synthetic assets, maintaining platform stability and reliability. The collateralization rate ranges from 110% to 150%, enhancing users' portfolios by reducing reliance on cryptocurrency volatility.
New Opportunities and Features in jAssets
jAssets, launched by BLKSWN PTE. LTD, offers unique features, including minting synthetic assets using cryptocurrencies as collateral. Traders can also leverage their trades in a pioneering approach in DeFi. As per Benedikt Keck, the platform supports multi-collateral troves, allowing users to optimize capital using diverse collateral types. jAssets utilizes decentralized oracles and the Pyth Network for real-time reliable data feeds, ensuring security and decentralization.
The jAssets platform enables DeFi users to diversify through synthetic tokens, easing access to traditional assets in a decentralized ecosystem.
