Jellyverse, the DAO-governed DeFi platform, running on L2 DeFiMetaChain, has raised $2 million in a private investment funding round. The funding round was led by the two companies developing Jellyverse, Jelly Labs AG and Fintonomy LTD. The two companies intend to use the proceeds to continue to build up the decentralised platform.
What is Jellyverse?
Jellyverse is a parasite chain that can link multiple blockchains and collect data. DeFiMetaChain (DMC), the Layer-2 chain that Jellyverse is built on, is compatible with the Ethereum Virtual Machine (EVM), ensuring support for a wide ecosystem of users.
The protocol’s ecosystem is powered by JLY token at its core, and it presents itself as an all-encompassing DeFi ecosystem that is heading in the direction of yield-oriented landscapes and sustainability. Jellyverse has introduced innovative products and services that it says will help it in its mission to help push its mission of revolutionising decentralised finance. The platform provides a range of products, including decentralised portfolios, bonds, lending, and advanced staking options.
Along with self-balancing multi-token pools, Jellyverse’s decentralised assets pave the way for a new kind of crypto portfolio diversification. Furthermore, Jellyverse infuses real-world assets into its offers in a seamless manner. This is a key factor that sets it apart from typical DeFi platforms.
The Jellyverse community has introduced jAssets another attractive product in the Jellyverse protocol. Designed to operate in a fully-decentralised way, the jAssets provide price exposure to real-world assets like commodities and equities through community-built tokens that are backed by cryptocurrencies.
Therefore, jAssets are a decentralised way for users to get exposure to the market prices of commodities, stocks, and other real-world assets. Notably, these assets track the stock or commodity price development generally according to protocols embedded into the system, but they are not directly tied to the price.
The Jellyverse ecosystem’s native token for governance and income sharing is JLY. Users who opt to stake JLY get the right to vote on important parameters and strategic decisions affecting various protocols and decentralised applications (dApps) on Jellyverse.