Jelly

Frequently asked questions

What is Jelly?

Jelly is a community-driven protocol for token rewards. It allocates 55% of its tokens for rewards, which are used as incentives for various purposes such as platform testing, marketing growth, liquidity, user onboarding, and partner incentives. The Jelly DAO will eventually play a key role in governing the allocation and distribution of these rewards. The protocol does not have a pre-sale, and all upfront capital has been provided by the founding team. Additionally, Jelly has three main tokens: JELLY, which is earned as rewards in the ecosystem; Staking NFTs, representing staked LPs and granting access to claim rewards; and veJELLY, a governance token used for voting that is obtained by locking up JELLY in the Sticky pool.

What are the main features of Jelly?

Jelly is a protocol for token rewards that operates as a community-driven platform. It allocates 55% of its tokens for rewards, which are used as incentives for various purposes such as platform testing, marketing growth, liquidity, user onboarding, and partner incentives. The JellyDAO plays a key role in the governance of rewards allocation over time. Jelly offers features like Airdrips, which use Merkle Proofs for whitelists at scale, and allows projects to launch their own token Airdrops using the Jelly Factory. It also supports farming with NFTs, where staking NFTs represent staked LPs and provide access to claim the rewards earned. Additionally, Jelly has its own tokens, including JELLY, which is earned as rewards in the ecosystem, and veJELLY, received when JELLY is locked up in the Sticky pool and used for governance and voting. The Jelly ecosystem has a maximum supply cap of 1 billion tokens.

How does Jelly handle airdrops?

Jelly handles airdrops using Merkle Proofs for whitelists at scale. Projects can launch their own token airdrops using the Jelly Factory. Airdrips are available for token vesting and Fancy Claim, which is a safe way to claim tokens.

What is farming in Jelly?

Farming in Jelly refers to a feature in the Jelly protocol where users can stake their LP tokens and earn rewards. These rewards can be claimed by using Staking NFTs, which represent the staked LPs and grant access to the earned rewards. The farming feature supports whitelists, multiple tokens, and an updateable rewarder.

What is staking in Jelly?

Staking in Jelly refers to the process of locking up JELLY tokens in the Sticky pool to receive veJELLY (vested escrow JELLY). veJELLY represents a user's time-locked position and serves as the governance token for the Jelly Protocol. Staking NFTs are also received when users stake in a Jelly powered pool, which represent their staked position and can be transferred, bought/sold, and used in the DeFi/NFT ecosystem. The Jelly DAO will play a key role in the governance of rewards allocation and distribution over time.

What is Jellynomics?

Jellynomics is a protocol for token rewards that operates within the Jelly ecosystem. It has three main tokens: JELLY, which is the protocol's token earned as rewards; Staking NFTs, which represent users' staked positions and can be transferred, bought/sold, and used in the defi/NFT ecosystem; and veJELLY, which is obtained by locking up JELLY in the Sticky pool and represents a time-locked position. veJELLY is the governance token used for voting. The circulating supply of JELLY tokens was 23,794,985 as of May 5th, 2022, with a total supply of 431,038,446. The maximum supply cap for JELLY tokens is 1 billion. The Jelly ecosystem allocates 55% of the tokens for rewards, which are used as incentives for platform testing, marketing growth, liquidity, user onboarding, and partner incentives. The Jelly DAO will play a key role in rewards allocation over time.

How are rewards allocated in Jelly?

In Jelly, rewards are allocated through the distribution of tokens. 55% of the total token supply, which is 550,000,000 JELLY, is allocated for rewards. These rewards are used as incentives for various purposes such as Platform Testing, Marketing Growth, Liquidity, User Onboarding, and Partner incentives. The Jelly DAO, over time, will play a key role in the governance of rewards allocation and distribution.