Jellyverse secures $2 million seed round to build DeFi 3.0

11:58 am
December 5, 2023

**Jellyverse Secures $2 Million Seed Funding for DeFi 3.0 Development**

Jellyverse, a decentralized finance (DeFi) ecosystem based on the EVM-compatible layer-2 DeFiMetaChain (DMC), has successfully raised a capital injection of $2 million from private investors for its development.

The funding was obtained in a seed funding round by Jelly Labs AG and Fintonomy LTD. Both companies involved in the development of Jellyverse aim to utilize the financing to support the platform’s development and advance DeFi adoption with the integration of real-world assets and real-world price feeds.

The DeFi 3.0 platform includes protocols such as a decentralized exchange (DEX), staking protocol, stablecoin, decentralized portfolios, bonds, lending, and staking, contributing to the goal of expanding DeFi adoption.

Jellyverse will include protocols such as JellySwap, a decentralized exchange (DEX) built on Balancer; JellyStake, a decentralized staking protocol; and jUSD, a stablecoin. Additionally, the ecosystem will feature jAssets, a protocol for crypto-backed user-generated tokens, and JellyBond, a protocol that bonds the stablecoin jUSD and jAssets, allowing users to earn yield on their tokens.

The DeFi sector, experiencing a resurgence amid the bull market upside, has seen the total value locked (TVL) rise to nearly $50 billion as the crypto market records a resurgence in prices.

**FAQ**

1. What is Jellyverse?
Jellyverse is a decentralized finance (DeFi) ecosystem built on the EVM-compatible layer-2 DeFiMetaChain (DMC).

2. What is the purpose of the $2 million funding secured by Jellyverse?
The funding is aimed at supporting the development of the platform and advancing DeFi adoption with the integration of real-world assets and real-world price feeds.

3. What protocols are under development within the Jellyverse ecosystem?
Jellyverse is developing protocols including decentralized exchange (DEX) JellySwap, decentralized staking protocol JellyStake, stablecoin jUSD, jAssets for crypto-backed user-generated tokens, and JellyBond, which bonds the stablecoin jUSD and jAssets.

4. How has the DeFi sector been performing recently?
The DeFi sector is experiencing a resurgence amid the bull market upside, with the total value locked (TVL) rising to nearly $50 billion as the crypto market records a resurgence in prices.


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