Jellyverse DEX TVL Triples to $13.2M, Becomes Second-Largest on Sei Blockchain

Jellyverse, a decentralized exchange (DEX) on the Sei blockchain, has tripled its total value locked (TVL) over the past month, reaching a record $13.2 million

Jellyverse, a decentralized exchange (DEX) on the Sei blockchain, has seen a threefold increase in its total value locked (TVL) over the past month, reaching a record $13.2 million as of this writing.

The DEX ranks as the second-best monthly performer among the Sei-supported DeFi applications. Thanks to its rapid growth, Jellyverse has become the second-largest DEX on Sei after Dragon Swap, whose TVL crossed the $20 million mark earlier today.

Launched in mid-June, Jellyverse is a Sei-focused DEX platform that was forked from Balancer V2. The broader ecosystem also consists of staking and synthetics protocols. Synthetics are tokenized versions of real-world assets, such as company shares, bonds, or commodities.

The DEX hosts two three-token pools, one focused on USD stablecoins that generates an annual percentage rate (APR) of 9.7%, and another one offering exposure to Ethereum at reward rates of over 16% per year.

The standard pools consist of token pairs that include its native JLY token, as well as wrapped FRAX, SEI (WSEI), USDC, wrapped Ethereum (WETH), and USDT, among others, with APR figures ranging from 13% to over 137%.

FRAX and WSEI each have $2 million in TVL, followed by USDC, USDT, SFRAX, FRXETH, and SFRXETH.

Daily trading volume on Jellyverse reached a record high of $802,300 on September 18, with total cumulative volume nearing $25 million.

Meanwhile, the Sei blockchain is expanding its footprint in the decentralized finance (DeFi) sector, emerging as the best monthly performer among the top 90 blockchains by TVL.

On Thursday, September 18, it surpassed the $150 million mark, reaching a new record of $154.5 million as of this writing. Earlier this month, we reported on Sei’s $115 million milestone.

Sei is a high-speed Cosmos-based layer 1 blockchain that is geared towards DeFi and trading. It is also the first parallelized EVM blockchain, enabling it to serve as a scaling solution.

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