陈小萌

3Jane 百科大全 8/13

sUSD3：用更高风险换更高收益

把 USD3 再质押，得到的 sUSD3，是劣后级高收益层。

收益逻辑：sUSD3 吃大部分超额利差，USD3 吃小部分稳健收益。

风险逻辑：底层违约坏账一旦超出日常准备金，损失先由 sUSD3 全额承担；只有 sUSD3 被扣光，才会波及 USD3。

流动性限制：设有 31 天冷却期。发起解质押后，冷却期内无法立即变现，且要承担窗口期内的资产重估结果——防止风控苗头出现时劣后级抢跑。

适合：能接受首损与锁仓、想博结构化高息的资金。不适合把全部本金压在这一层。

Google lost $500 billion in a day—the worst single-day plunge in history
▫️ Alphabet closed down more than 12%, wiping out around $500 billion in market value
▫️ Its worst single day since going public, and the second-largest single-day loss in U.S. stock market history
▫️ Free cash flow turned negative by about $9.1 billion, as slowing ad growth weighed on results
▫️ Cloud revenue doubled to around $30.7 billion, but still couldn’t quell fears over AI spending
AI burned through hundreds of billions, and the market burned you first 😂
Is this a bubble warning, or a chance to get in? 👇 (Not investment advice)
#谷歌 #Alphabet #AI

Question:

Which do you find scarier: an exchange getting hacked, or getting hacked on-chain? 🧐

3Jane Encyclopedia 6/13

How does 3Jane make money?

The profit formula is straightforward:
Net protocol yield = underlying loan interest + returns from managing idle funds − bad-debt provisions and write-offs − off-chain legal and service fees

Annualized rates for traditional consumer and small-business lending are often 16%–22%. Along the way, funds pass through four or five layers—banks, investment banks, asset managers, and law firms—leaving capital providers with just 6%–8%. 3Jane uses smart contracts to replace distribution, bookkeeping, and priority liquidation, keeping as much of the credit premium as possible within the protocol.

Yield waterfall:
· Safeguard a stable base yield for USD3
· Allocate excess spread to sUSD3, which bears first loss
· Protocol management fees and ecosystem expansion support future JANE value capture

Real credit spreads are a source of returns that can weather crypto bull and bear markets.

Billions of dollars urgently frozen! BTC briefly fell below $78,000 💥
▫️ Circle, Tether and others froze a total of about $2.5 billion in related funds
▫️ On-chain monitoring shows the addresses involved may hold nearly $6 billion
▫️ Officials say user funds are safe and have pledged to cover losses
▫️ Bitcoin fell more than 4%, while BNB also dropped
What do you think about stablecoins’ ability to freeze funds with one click? 👇 (Not investment advice)
#比特币 #稳定币 #CryptoMarket

My LOOP position be like 😅:

Bought some Bitcoin spot
Then sold puts on Bitcoin
Also bought Bitcoin LEAPS calls

I should reach 100% of my goal before New Year's 🫡

The hacker also used tainted USDT to borrow 200k ethereum:native on @aave. This position should be liquidated normally, right? Tether can't freeze the AAVE address, can it? 🧐

3Jane Encyclopedia 5/13

Who exactly is the money being lent to?

USDC deposited into 3Jane on-chain isn’t lent to crypto whales. Instead, it flows through compliant SPVs and off-chain trusts to U.S. fintech lending institutions.

Three core models:
① Warehouse financing: Short-term, frequent credit facilities for lending institutions
② Loan asset purchases: Standardized purchases of high-quality receivables / installment loan portfolios
③ Ongoing financing arrangements: Funds can be drawn and replenished as long as metrics stay within limits

Disclosed examples:
· LendSwift: U.S. consumer credit—small loans, diversified borrowers, high interest rates, and short repayment cycles
· Slope: Buy now, pay later for businesses / working capital for SMEs

When evaluating the business, keep an eye on four figures: credit limit, actual loan disbursements, fund utilization rate, and protocol TVL. If TVL surges but loan disbursements don’t keep up, idle funds will dilute returns.

Whether on-chain or on exchanges, funds have all started pulling out in a big way.

I wonder how long it’ll take for confidence to recover this time 🥲

Woke up to find Binance had been hacked, and withdrawals were suspended 😅

The official statement says they’re still investigating the security issue. User funds are safe, and withdrawals will resume once the investigation is complete. Alpha has also been paused for now.

The latest update says $2.54B has been frozen, and that figure will keep rising. Tether, Circle, and Ripple were really quick to step in this time.

This is when scams are most common. Anyone claiming to be “customer support” and messaging you to help with withdrawals is a scammer. Just trust official accounts.

If you can’t withdraw, don’t panic for now. Wait for the official findings. At the moment, everyone’s throwing around different numbers 🤡

#币安 #安全 #Withdrawals

As soon as HYPE goes up,

a million gurus come out saying they’ve made a killing. They kick their feet up on the table, spread their hands, and go: “I told you so—you see…”

Google has been holding back a major move—the top spot on the AI IQ leaderboard has changed hands! 🔥
▫️Gemini 4 Carbon scored 59, taking the top spot on the Artificial Analysis Intelligence Index
▫️Claude Opus 5.5 came in second with 58, just 1 point behind
▫️Ranked first in 4 of 9 evaluations, scoring 9 points higher than Argon did two weeks ago
▫️Still a bit behind on coding: 59 vs. 62 on the coding agent leaderboard, still trailing Claude
A new iteration every two weeks—this competition is getting intense 😂
Which AI are you mainly using right now? 👇
#AI #Gemini #Google

There’s a catch with the Binance Wallet USDai campaign! @BinanceWallet

After the Binance Wallet USDai campaign ended today, I went to redeem. I was pretty happy to have earned 17% APY for a month. Then tonight, with nothing better to do, I checked the official website and noticed something was off: why is the redemption NAV lower than what the wallet shows???

Something didn’t seem right, so I tested it again with another 1,000 U. Sure enough, Binance Wallet’s displayed redemption amount was overstated by 30 bps 🤪

3Jane Encyclopedia 4/13

$5.2 million seed round: the lineup matters more than the amount

In June 2025, 3Jane completed a $5.2 million seed round.

Lead investor: Paradigm (which rarely makes moves in the traditional RWA sector)
Participating investors: Coinbase Ventures, Wintermute Ventures, Robot Ventures, Breed VC, Bodhi Ventures, and several prominent DeFi protocol founders investing as angels.

The roles are also clearly defined:
· Paradigm / Robot → Interest rate models, auctions, and structured design
· Coinbase Ventures → U.S. compliance, custody, and fiat on-ramps
· Wintermute → Secondary-market liquidity for USD3 and future JANE market making

A top-tier group of investors provides an ecosystem moat—not just a check.

The heartless boss is exploiting us online!

Want me to write a post about my Bot network? 🧐

3Jane Encyclopedia 3/13

Founding Team: From Ribbon / Aevo to Real-World Credit

3Jane founder Jacob Chudnovsky was deeply involved with Ribbon Finance and Aevo, two of the most successful on-chain structured finance and options vault projects of the previous cycle.

The team’s strength is clear: turning complex derivatives pricing, risk tranching, and yield packaging into products that anyone can deposit into with a single click. Today, they’ve applied this approach to real-world credit, moving beyond on-chain options.

Early on, they also tried purely on-chain unsecured lending, but quickly realized it lacked legal recourse and stable cash flows. So they decisively pivoted to regulated U.S. fintech lenders, using wholesale funding to make the business model work.

Their structured finance expertise, combined with a pragmatic pivot, is key to making USD3 / sUSD3 / LCC viable.

A company with $20 million in annual revenue can’t borrow even $1 in DeFi?

“3Jane Encyclopedia 2/13”

In traditional finance, companies can secure credit based on revenue, accounts receivable, and credit history. The essence of lending on credit is to discount future cash flows into money available today.

Aave and Morpho, by contrast, rely almost entirely on overcollateralization: you need $100,000 in on-chain assets before you can borrow $70,000–$80,000 in stablecoins. DeFi can only serve people who already have money.

3Jane divides the credit market into three categories:
▫️ Category 1: Crypto-asset collateral (Aave, MakerDAO, Morpho)
▫️ Category 2: Algorithms and protocol mechanisms (such as delta-neutral protocols like Ethena)
▫️ Category 3: Future cash flow-backed credit—real business revenue, accounts receivable, installment payments from consumer financing, plus off-chain legal recourse

3Jane is targeting the third category: it assesses companies’ historical default rates, payment terms, and ability to repay, then turns USDC from on-chain depositors directly into business credit lines.

This opens up a trillion-dollar traditional commercial credit market while giving stablecoins real yield that doesn’t depend on bull or bear markets.

#3Jane #DeFi #RWA

The crypto world is actually pretty simple. Just remember these three things:

Trade Perps only if you’re arbitraging. Otherwise, don’t.
Deposit funds only if the base yield is worth it—not just for points. Otherwise, don’t.
Invest only if you can outperform Bitcoin. Otherwise, don’t.