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Jones Vaults

Jones DAO offers vaults for multiple assets and risk profiles. Jones generates yield through strategies deployed on the assets deposited in Jones Vaults. With 1 click, users are able to access the best yields and with actively managed, fully optimized, and hedged strategies.

Jones Vault Types

The aim of Jones Vaults is to generate yield with sophisticated hedged strategies. The PnL of the vaults is denominated in the native vault token, with the goal being to accumulate more of that token over time.

Primary Jones Vaults

Each token will have a primary Jones Vault used to mint jAssets, with Metavaults for different risk profiles. Most primary Jones Vaults (with the exception of gOHM) will seek to generate risk-averse and stable yields in all market conditions. The majority of token deposits will be used to earn yield by writing covered calls, with up to 5% of funds used to hedge via purchasing calls, puts, or perps. Jones strategists may also take advantage of inefficient options pricing across platforms, to lock in a small amount of risk-free yield through arbitrage.

Auxiliary Jones Vaults

Auxiliary Jones Vaults cater to different risk profiles, and will deploy more directional/aggressive options strategies. These vaults have variable ratios of selling/buying options according to their risk profile. Auxiliary vaults cannot be used to mint jAssets.

Current Jones Vaults Offered

  • ETH primary vault, risk averse
  • gOHM primary vault, bull long vault
  • DPX primary vault, risk averse
  • rDPX primary vault, risk averse

Jones Vault Architecture

Deposits and Withdrawals

At the start of each epoch, Jones allows deposits and withdrawals for Jones Vaults over a certain window of time. During this time, users can deposit their tokens, and (for primary vaults) mint jAssets or withdraw their tokens & claim their yield by burning their jAssets.
Tokens not withdrawn will be rolled over to the next epoch and auto compound.
When deposits close, Jones Vaults enter a locked state. From this point until the next vault epoch, the vaults can be curated by the DAO's strategies. Deposits do not leave the Vault, but jAssets can be swapped for other tokens on SushiSwap via our jAsset liquidity pools.