Jones DAO (JONES)

Jones DAO is an Arbitrum-based options protocol.

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Utility

• Governance and vote-escrow model (15-4-2022):

"JONES lockers will be able to accrue a portion of fees generated by the protocol, which comes from a 2% management fee based on AUM and a 20% performance on the yield earned, boosted rewards from depositing into vaults, as well as the right to direct emissions to different vaults."

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Arbitrum and Dopex

How it works

• From Bankless (15-4-2022):

"Jones provides users with access to automated options writing strategies through their vault architecture. These vaults leverage Dopex, the largest options protocol on Arbitrum by TVL, as infrastructure, helping to minimize the complexities that come with writing options, such as selecting strike prices and managing the risk of the position. This means that the protocol is most like Ribbon, which similarly employs strategies through utilizing Opyn’s oTokens.

Jones has the potential to serve as a building block for DeFi on Arbitrum through its issuance of jTokens. Like protocols such as Yearn or Aave, vault depositors will receive a jToken, which represents a claim on a user’s share of the underlying tokens in the vault. This enables increased composability and capital efficiency, as like G-UNI tokens from Arrakis, other protocols can build on top of these yield-bearing assets."

Roadmap

• Can be found [Insert link here].

Usage

• From Bankless (15-4-2022):

"The protocol currently holds more than $9 million in deposits across its ETH, gOHM, and DPX vaults."

Competition

The protocol is most like Ribbon, which similarly employs strategies through utilizing Opyn’s oTokens.

Team, Funding and Partners

Team

• Full team can be found [here].

Funding

Lens; DAO Jones was part of the $15M raise by Aave (6-2023).

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