Jellyverse, a decentralized exchange (DEX) on the Sei blockchain, has experienced significant growth over the past month, with its total value locked (TVL) tripling to a record $13.2 million. This surge positions Jellyverse as the second-largest DEX on Sei, trailing only Dragon Swap, which has a TVL exceeding $20 million.

Launched in mid-June, Jellyverse is a Sei-focused DEX platform forked from Balancer V2, offering staking and synthetics protocols. The DEX features pools containing two or three tokens, including USD stablecoins and Ethereum, with annual percentage rates (APR) ranging from 9.7% to over 16%.

Standard pools on Jellyverse include pairs with its native JLY token, wrapped FRAX, SEI (WSEI), USDC, wrapped Ethereum (WETH), and USDT, boasting APR figures from 13% to over 137%. Daily trading volume reached a record high of $802,300 on September 18, with total cumulative volume nearing $25 million.

The Sei blockchain, a high-speed Cosmos-based layer 1 blockchain focused on DeFi and trading, continues to expand its presence. It recently surpassed the $150 million TVL mark, establishing itself as the best monthly performer among the top 90 blockchains by TVL.