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 as of this writing.

The DEX has been the second-best monthly performer among DeFi apps supported by Sei. Thanks to its rapid growth, Jellyverse has become the second-largest DEX on Sei after Dragon Swap, whose TVL surpassed the $20 million mark today.

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

The DEX hosts pools containing two or three tokens. There are two three-token pools, one focused on USD stablecoins and generating an annual percentage rate (APR) of 9.7%, and another one giving exposure to Ethereum and offering 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%.

https://app.jellyverse.org/jellyswap

FRAX and WSEI have $2 million in TVL each, 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 continues to expand its DeFi presence, becoming 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 focused on DeFi and trading. It is also the first parallelized EVM blockchain, being able to serve as a scaling solution.

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The post Sei-Based Jellyverse DEX Surges 200% in One Month to Record $13M TVL appeared first on NFTgators .