G.I. Joe originated as a brand of action figures in the 1960’s, but continues to find life today. There is a Snake Eyes spin-off film starring Henry Golding and now Amazon has a Lady Jaye TV show in development.
Not much is known at this current stage aside from the fact the series would be focused on Lady Jaye and also connect to the larger G.I. Joe universe. The character was last featured in the film G.I. Joe: Retaliation played by Adrianne Palicki. With this new adaptation coming years after the movie, I would be surprised if she returned for the role.
Erik Oleson, currently in charge of another Amazon series, Carnival Row, is set as showrunner. His previous work includes the third season of Daredevil, which makes me more optimistic for the project, as that was a stellar season of TV.
I imagine Lady Jaye was selected due to her popularity and role as an undercover operative being easier to translate to a series, as opposed to doing a show featuring the full unit.