Jones GLP $JGLP

jGLP is an innovative product of JonesDAO, a protocol recognized on CoinGecko. Jones DAO is renowned for its yield, strategy, and liquidity protocol designed particularly for options. It is well-known for incorporating vaults that facilitate one-click access to institutional-level options strategies. This is coupled with the unlocking of capital efficiency and liquidity for DeFi options through the deployment of yield-bearing options-backed asset tokens. Of recent, Jones launched an array of advanced strategy vaults including jGLP & jUSDC. These have been constructed on the GMX platform and GLP foundation.

Advanced Strategy Vaults: jGLP & jUSDC

jGLP & jUSDC vaults, products of JonesDAO, aim to deliver transparent and consistent leveraged yield to users. The vaults operate synchronously, magnifying the yield generated by GLP for depositors. The unique features of these vaults include:

jGLP Vault

This vault stands as smart leverage on the underlying GLP rewards rate. It also provides an optional auto-compounding feature. Once this feature is opted for, it enables users to mint the jGLP receipt tokens while the vault accrues yield in ETH.

jUSDC Vault

On the other hand, the jUSDC Vault offers transparent USDC yield minus the inefficiencies of competing methods. Similar to the jGLP vault, it also presents an optional auto-compounding feature. In this case, the auto-compounding allows users to mint the jUSDC receipt tokens, while the vault accrues yield in USDC.

Functionalities of the jGLP and jUSDC Vaults

These two vaults function complementarily. They operate by accomplishing the following:

Deposits

Users can deposit GLP or any GLP basket token into the jGLP Vault, and USDC into the jUSDC Vault.

Borrowing and Minting

The jGLP Vault borrows USDC collateral from the jUSDC Vault to mint more GLP, thereby gaining leverage on its GLP position.

Yield Delivery

The jGLP Vault delivers amplified and transparent real yield to