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jAssets
jAssets are fully composable yield-bearing asset tokens that unlock liquidity and capital efficiency for assets locked in options strategies.
When a deposit is made to the primary Jones Vault for an asset, a jAsset token is minted to represent the deposit. Upon withdrawal, the jAsset token is burned and the deposit + yield is received back by the depositor.

Lending/Borrowing jAssets

jAssets are fully composable, and can be deposited in the DAO's Rari Fuse pool, enabling users to free up liquidity to utilise elsewhere, or to leverage their jAssets, thus leveraging their Jones Vault position.
For example, Bob deposits 10 ETH in the ETH Jones Vault, minting 10 jETH. Bob then deposits his jETH in the DAO's Rari Fuse lending pool, and borrows 10,000 USDC. Bob converts his 10,000 USDC to jETH by A) swapping his 10,000 USDC for 2.5 ETH (ETH price is $4k in this example) and depositing it in Jones, minting additional jETH. OR, B) Swapping his 10,000 USDC directly for jETH on a DEX. Bob has now leveraged his vault position 1.25x.

jAsset Liquidity Pools

jAssets have incentivised liquidity pools, jAsset/Asset. The ratio of jAsset/Asset is determined by Jones Vault performance over time. jAsset liquidity pools enable users to swap out of their Jones Vault position (and the underlying locked assets) at any time. Over the long run, we expect that the value of jAssets > Assets.

Implications of jAssets

  • Unlock liquidity for assets locked in options protocols, for example Dopex SSOV.
  • Enable borrowing/lending against/of options positions.
  • Create 3 new layers of yield on top of yield from SSOV & options strategies: JONES emissions, lending yield, and β–ˆβ–ˆβ–ˆβ–ˆβ–ˆβ–ˆ.
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