Two new (credit line) money markets have recently made headlines
• @3janexyz --> FICO-style consumer credit by @_yakovsky
• @WildcatFi --> toolbox for sophisticated trading desks to offer private credit by @functi0nZer0
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3Jane --> “Borrow Against the Future”
• Credit-based money market allowing U.S. retail users instant, unsecured credit lines
• Zero on-chain collateral
• Proprietary 3Jane Credit Algorithm (CA) underwriting engine analyses on-chain assets, off-chain cash flows and VantageScore data to estimate the credit line line
• Depositors supply USDC and receive USD3 (senior) or stake it for sUSD3 (junior, first-loss), while idle cash farms sweet @aave yield
• If a borrower defaults, the “Credit Slasher” slashes their score, redistributes late interest to healthy borrowers and auctions off the non-performing loan
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Wildcat --> “Build-Your-Own Private-Credit Market”
• Targets trading desks and funds that want bespoke on-chain credit terms.
• A whitelisted borrower deploys a vault, setting its reserve ratio , fixed APR, withdrawal cycle, grace period up-front
• Lenders deposit and receive a rebasing debt token
• If reserves dip below the floor past the grace period, a penalty APR kicks in until the borrower pays or lenders pursue off-chain enforcement
• Wildcat takes 0–10% of the base APR as protocol rev and lets borrowers determine KYC, size-minimums or other role-provider “hooks” for access control
• Largest under-collateralised credit protocol
TLDR: 3Jane imports consumer credit into DeFi while Wildcat offers instis a way to spin up custom credit lines. If both protocols are well managed, they can scale very fast (overcoming the traditional over-collat model in crypto)
