Jones Vaults

Jones DAO offers vaults for multiple assets and risk profiles. Jones will generate yield through options strategies deployed on the assets deposited in Jones Vaults. With 1 click, users will be able to access the best yields and with actively managed, fully optimised, and hedged options strategies.
Jones Vault Types
The aim of Jones Vaults is to generate yield with sophisticated and appropriately hedged options strategies. The PnL of the vaults is denominated in the vault asset, with the goal being to accumulate more of the asset over time. 
Primary Jones Vaults
Each asset will have a primary Jones Vault used to mint jAssets, with auxiliary vaults for different risk profiles. 
Primary Jones Vaults will seek to generate risk-averse and stable yields in all market conditions. The majority of funds 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 Vaults 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 variables 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, risk averse
DPX primary vault, risk averse
rDPX primary vault, risk averse
Jones Vault Architecture
Deposits and Withdrawals
At the start of each epoch, Jones opens deposits and withdrawals for Jones Vaults for a certain time window. 
During this time, users can deposit their assets, and (for primary vaults) mint jAssets or withdraw their assets + yield earned by burning their jAssets. 
Assets not withdrawn will be rolled over to the next epoch and compound profit.
When deposits close, Jones Vaults enter a locked state.
From this point on, the vaults can be managed by the DAO's AUM multisig and keepers.
Deposits do not leave the vault contract.
​

Protocol Overview

Next - Features

jAssets

Last modified 3mo ago

Copy link

Outline

Jones Vault Types

Jones Vault Architecture