Jones USDC $JUSDC

Jones USDC (jUSDC) is a pioneering crypto project developed by JonesDAO, a well-established protocol renowned for its yield, strategy, and liquidity services for options. JonesDAO's crypto products, which are listed on CoinGecko, are designed to facilitate seamless access to institutional-grade options strategies and unlock capital efficiency & liquidity for DeFi options through yield-bearing options-backed asset tokens. Among its innovative offerings are advanced strategy vaults, namely jGLP & jUSDC, built on the trusted GMX platform and GLP.

Features of the Vaults

The jGLP and jUSDC vaults stand out for their provision of transparent and consistent leveraged yield to users. They operate in unison to augment the yield produced by GLP for depositors. Notably, the jGLP vault is designed for Smart Leverage on the underlying GLP rewards rate whereas the jUSDC vault aims to provide a transparent USDC yield, eliminating the inefficiencies typical of competing methods.

Auto-compounding Option

Both vaults offer the advantage of optional auto-compounding. Choosing this feature allows users to mint the jGLP and jUSDC receipt tokens. It's worth noting that the jGLP vault accrues yield in ETH, while the jUSDC vault does so in USDC.

Functioning of the Vaults

The jGLP and jUSDC vaults are designed to complement each other. The interaction between the two vaults works as follows:

Deposit mechanism

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

Borrowing procedure

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

Yield delivery

3. The jGLP Vault delivers amplified and transparent real yield to depositors.

4. The jUSDC Vault delivers USDC yield to depositors by receiving a portion of the yield from the GLP strategy built on its collateral.

Interaction and Exposure

The jGLP