RWA-focused decentralized finance platform Jellyverse, built on the Sei network, announced the upcoming launch of jAssets, a platform that allows users to mint synthetic tokens that are based on real-world assets. This fully decentralized platform allows users to create synthetic assets that track the approximate value of traditional assets tied to real-world assets (RWA) like stocks, commodities, and precious metals.
“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,” said Benedikt Keck, Co-Founder of BLKSWN PTE. LTD.
Following a successful integration vote by the Jellyverse DAO, the community that makes decisions on the Jellyverse ecosystem, jAssets is set to be added to the ecosystem in the coming weeks. Simply, jAssets is a collateralized debt platform. Users are required to lock up collateral—such as ERC-20 tokens—and issue synthetic assets such as jNVDA (Nvidia), jAAPL (Apple), jTSLA (Tesla), jMETA (Meta), jGLD (Gold), and others.
The synthetic assets (jAssets) are sent to their address and subsequently transferred to other users who select to buy the assets. This allows users to diversify their assets using traditional RWAs, narrowing the gap for DeFi users in the investment space.
An Over-Collateralized System for Synthetic Assets
The Sei network, a fast and cost-effective L1 blockchain with parallelized EVM functionality, serves as the foundation for the assets. The assets are over-collateralized, which ensures that the value of the collateral exceeds the synthetic assets, maintaining stability and reliability within the platform. The over-collateralization rate stands at 110% to 150% according to the assets.
jAssets aims to provide users with a seamless trading experience, featuring low-fee transactions and access to synthetic RWAs. As stated above, this innovation will enhance portfolio diversification for DeFi users by reducing reliance on cryptocurrency volatility while offering exposure to traditional assets within a decentralized ecosystem.
Introducing New Features and Capabilities on jAssets
The project, launched by BLKSWN PTE. LTD, offers several unique features, including minting synthetic assets using various cryptocurrencies as collateral, providing exposure to real-world assets without leaving the blockchain ecosystem. Secondly, traders will also be able to leverage their trades—whether long or short—becoming one of the pioneers to offer these services in the DeFi field.
Adding to his comments, Keck stated:
“The collateral flexibility allows users to maximize their positions, whether using wETH, wBTC, JLY, SEI, USDC, USDT, FRAX, or GEM, or a combination of these assets as collateral.”
The platform also introduces multi-collateral troves, allowing users to optimize capital efficiency by utilizing multiple types of collateral, including USDT, USDC, FRAX, wETH, ssETH, JLY, SEI, and wBTC.
Finally, the platform leverages decentralized oracles to ensure added security and decentralization across the platform. jAssets uses the Pyth Network for real-time, reliable price feeds, ensuring accurate minting valuations of synthetic assets. The protocol allows continuous 24/7 trading without the risk of external trading halts, empowering users to maintain full control over their investments.
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