Project overview and solutions
Jones DAO is a new Options project on Arbitrum, providing investment solutions at the level of financial institutions for retail investors. Simply put, users will put money into Vaults (safes), Jones’ professional financial team then invests the money in Options (low risk / moderate return) and collects fees.
In particular, Jones not only supports normal assets but also synthetix assets minted from staking of other projects such as gOHM, rDPX ➡ Means users both enjoy APR from staking, and APR from Jones. So Jones offers solutions for those who:
👉 Want to invest safely without having time to research or monitor the market.
👉 Want to optimize profits from staking large projects. Get double APR with low risk.
In addition, Jones DAO also supports staking of the above assets. Currently, the project has Vaults and the corresponding assets are ETH, gOHM, DPX, rDPX. Because the DApp is new, this number is still low, according to the roadmap, it will grow in the future.
As can be seen, $DPX is strongly supported on Jones. This is understandable because according to Holdstation research, at least 2 of Jones’ developers are on the Dopex team, one of the top DApps in the Arbitrum system.
jAsset
jAsset is an asset that is generated when a user puts tokens into the vault, for example, putting ETH in the vault will be minted in jETH. From there, it can be further optimized by borrowing or staking jETH.
Operational efficiency
Jones Vaults have an average return of around 8% APY, ranging from -0.16% to 15.56%.
➡ This is an attractive profit, especially for investors who both enjoy the original APY stake token and add APY from Jones. Although the general market has suffered a strong downtrend in the recent period, Jones still gives a good profit, efficiency and sustainability.
Thanks to that, a large cash flow poured into the project. Starting to deploy from the end of February 2022 with 1 asset, currently, Jones’ TVL has reached nearly 18 million USD and is continuing to increase with 4 types of assets.
Tokenomic
Jones is the main token of the Jones DAO.
Contract address: 0x10393c20975cF177a3513071bC110f7962CD67da.
Usecase
Governance: Allows holders to vote on important decisions such as adding a new Vault, investment strategy, distribution of rewards.
veJones: Jones operates under the veToken mechanism, users will lock Jones to receive veJones, and enjoy special benefits:
- Shared project fees. Currently, the project is collecting 20% of the profit and 2% of the user’s annual total asset fee.
- Decide on rewards for jAssest pools and Vaults.
Token distribution
Total supply: 10,000,000 tokens.
The number of tokens in circulation in the market is about 3.5 million. However, looking at the table and after being checked by Holdstation, it can be seen that most of the remaining Jones is in the operating and bonus fund. This bonus fund will be distributed in 5 years, while the operating fund is buying into Jones thanks to good performance ➡ not much discharge pressure.
Socials
- Discord: https://t.co/hdWljQzF6o
- Twitter: https://twitter.com/DAOJonesOptions
- Website: https://www.jonesdao.io
Final thoughts
Jones DAO is an exciting development in the world of decentralized autonomous organizations. It is one of the first DAOs to focus on creating a platform for artists and creatives to showcase their work and connect with a wider audience, and its innovative approach to curation and community governance has the potential to revolutionize the art world.
The platform’s use of a reputation-based system for curators and its focus on providing a more inclusive and diverse space for artists to showcase their work is particularly noteworthy. Additionally, the decision to utilize a bonding curve to manage the platform’s native token, JONES, adds an interesting dimension to the project and creates an additional incentive for users to contribute to the platform.
As with any new technology, there are risks and challenges associated with Jones DAO, such as the potential for centralization and the need for ongoing community engagement and governance. However, the team behind Jones DAO seems committed to addressing these challenges and creating a vibrant and decentralized community that benefits both artists and art enthusiasts.
Overall, Jones DAO is an exciting development that has the potential to transform the way artists and creatives connect with their audiences, and it will be fascinating to see how it evolves and grows in the years to come.
Disclaimer: This post is not investment advice. You will be 100% responsible for your investment decisions.
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