jAURA vs. wjAURA
As described above, jAURA is a non-tokenized auto compounding strategy for AURA that will compound more vlAURA into your deposit position over time. jAURA also receives automated bribes from Redacted Cartel’s Hidden Hand.
Deposited tokens are not composable and must remain inside the jAURA strategy vault until we reach an unlock period.
Unlock periods come every two weeks. More info on this can be found here (hyperlink to Withdrawals).
jAURA yield is derived from auto-compounding and automated bribes. It is not subject to liquidity incentives, unlike its tokenized counterpart wjAURA, so has a higher base yield.
Fundamentally, the wjAURA strategy is quite different from the standard jAURA strategy.
There are two main reasons for this:
- 1.It delivers liquidity incentives to Hidden Hand
- 2.It is fully composable, with the ability to be used by 3rd party protocols
In this way, wjAURA ends up having tradeoffs that make a much different experience than jAURA.
It is more composable, meaning that some partners such as Balancer or Aura can build LP mechanisms and vaults which provide user benefits such as boosted yield. But the base yield is diminished because wjAURA delivers liquidity incentives to Hidden Hand.
We already went over the fact that wjAURA’s base yield will differ from jAURA’s since wjAURA provides liquidity incentives for bribes. However, wjAURA exists for a whole different purpose.
For wjAURA holders, composability is key.
This token has a highly efficient yield infrastructure built behind it. Working hand-in-hand with Balancer and Aura, Jones has created an 80-20 Balancer pool that keeps wjAURA liquid and helps users boost yield.
This boosted yield may make you whole when compared to the yield tradeoff, or in some cases reward you with more than you would have sacrificed by using the liquid token version.
The secondary APY shown on the frontend of Jones, highlighted in purple, represents 80% of the wjAURA / WETH 80-20 Balancer Pool token yield when staked on Aura. This way, the only yield figures we show on the front end are from wjAURA.