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Drakewell is an issuer of onchain structured products, incubated by JPEG Trading and offered to eligible institutional participants. Its products are USDdw, fixed yield credit vaults, and SPYdw, a hedged SPY portfolio. Learn more at drakewell.fi.
JUSD is now Drakewell.
These docs are the reference for how each product works, what backs it and the risks that come with it.

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Products

USDdw

USDdw gives access to fixed-rate yield through credit vaults.

SPYdw

SPYdw is a hedged SPY portfolio. Yield pays for the hedge.

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Trust and transparency

Proof of reserves

Live reserve data published by Drakewell, and how to check vaults onchain.

Glossary

One definition for each term used across these docs.

Disclosures

Eligibility, venue terms and the legal basis of each product.

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Stay up to date

Follow @drakewell_fi on X for announcements. Current rates and vault terms are at drakewell.fi.
Rates are set per vault. Current terms at drakewell.fi.