3Jane
4 known investors
3Jane provides credit infrastructure and capital solutions for fintech lenders and cryptocurrency-native businesses, offering warehouse lines, forward-flow programs, and credit facilities ranging from $5M to $200M. The platform operates a credit-backed yieldcoin (USD3) that generates returns from lending facility programs.
Also known as 3Jane Protocol
Investors Β· 4
Also in the syndicate Β· 2
Funding
SEC filings, press & company announcements$5M disclosed across 1 of 2 rounds Β· 2025
- $5Mseed roundJun 2025 Β· 2 sources
Paradigm (lead)
Source β
Source: company announcements and press reports β follow each round's link for the claim.
Company profile
researched Aug 20263Jane (3Jane Protocol) operates a peer-to-pool, credit-based money market on Ethereum. Suppliers deposit USDC into a single tranched capital stack consisting of USD3, a senior credit-backed "yieldcoin," and sUSD3, a junior, first-loss staked tranche that takes levered exposure to pool returns. Both tranche rates float with what the underlying credit assets generate. Public materials describe 3Jane's aim as building the "third pillar" of onchain credit β lending against repayment capacity, receivables, income, and future cash flows β alongside the crypto-backed and algo-backed credit already served by protocols such as Aave, Morpho, and synthetic-dollar issuers.
The capital stack funds two sleeves. Crypto Credit Lines (CCL) are uncollateralized USDC credit lines underwritten directly to U.S.-based cryptonative borrowers β yield farmers, traders, sole proprietors, asset-light businesses, and AI agents β against verifiable proofs of DeFi, CEX, brokerage, and bank assets, future cash flows, and credit scores; 3Jane underwrites, originates, services, and holds these receivables itself. Fintech Credit Conduits (FCC) are standing, revolving, tranched funding rails β warehouse loans, participations, and forward-flow agreements β that finance short-duration SMB and consumer receivables originated by other U.S. fintech lenders through bankruptcy-remote SPVs, so supplier exposure is spread across thousands of underlying obligors rather than a single originator. The company frames the conduit as compressing the traditional bank-warehouse β forward-flow β unrated-ABS funding ladder into one programmable primitive. A third documented product, Levered Callable Capital (LCC), converts unfunded committed capital into a permissionless, syndicated primitive paying commitment fees.
The protocol also issues a token, JANE, distributed through a liquidity mining program tied to USD3/sUSD3 deposits, credit-line usage, and liquidity provision. Documentation covers pool interest rates, facility parameters, protocol configuration, audits, and developer addresses.
Founding story
Founded by Jacob Chudnovsky. Secondary sources give conflicting founding dates (2024 in one section, 2021 in another) and conflicting seed-round years, so the founding date is not reliably established. Chudnovsky said prior attempts at unsecured crypto credit failed due to weak underwriting and lack of legal recourse, and that the emergence of commercial-grade zkTLS made it possible to extract offchain credit data (such as Credit Karma scores and Plaid-linked bank data) in a trustless, privacy-preserving way β the basis for 3Jane's approach.
Business model
3Jane intermediates between onchain USDC suppliers and credit borrowers. Suppliers mint USD3 (senior) or stake into sUSD3 (junior/first-loss, levered) and receive a share of pool yield generated by the underlying credit assets. On the asset side, 3Jane originates uncollateralized credit lines to cryptonative borrowers and provides warehouse lines, participations, and forward-flow purchases of $5M-$200M to fintech lenders, with terms described as improving as a borrower scales. Sources do not disclose 3Jane's own fee or spread economics.
Sources describe yield flowing to USD3 and sUSD3 holders from warehouse facilities, forward-flow programs, credit lines, and LCC commitment fees, but do not specify how 3Jane itself captures revenue.
Traction
Reported product activity includes a live liquidity mining program, published USD3 (6.93%) and sUSD3 (14.59%) APYs, and a ~$8.5M whole-loan purchase of SMB line-of-credit receivables from Slope funded by USD3/sUSD3. At its June 2025 seed announcement the company had emerged from stealth and targeted a Q3 mainnet launch. No AUM, TVL, revenue, or user-count figures appear in the sources.
Latest developments
Recent items published by the company: introduction of Levered Callable Capital, described as turning unfunded committed capital into a syndicated permissionless primitive paying upwards of 10% USD APY in commitment fees; the live JANE liquidity mining program; and the ~$8.5M whole-loan purchase of SMB line-of-credit receivables from Slope funded by USD3/sUSD3. Documentation was last updated approximately two months before retrieval.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Self-described as building "the first credit-based money market" in crypto. Its own materials position sUSD3's credit-backed yield (cited as 15-20% APY) against Aave aUSDC (4%) and Ethena sUSDe (7%). Market sizing cited in sources: roughly $1.6T of U.S. unsecured consumer credit outstanding, a $5T+ asset-based-finance category covering fintech consumer and SMB receivables, and, at the time of the seed round, an over-$1 trillion U.S. market for credit lines, revenue-based loans, merchant cash advances, and trade credit.
Positioned as extending DeFi credit beyond overcollateralized lending into cash-flow- and future-backed underwriting. Distinguishing elements cited in sources: a two-token senior/junior tranche structure (USD3/sUSD3) rather than a flat pool; combined onchain and offchain (zkTLS-attested) credit data used for uncollateralized underwriting; onchain NPL auctions with licensed U.S. collections agencies providing legal recourse; and running fintech conduits alongside direct crypto credit lines to diversify the pool across duration, asset class, and counterparty. The founder argued earlier attempts at crypto unsecured credit failed for lack of robust underwriting and legal recourse.
Technology
Ethereum-based smart-contract money market (one secondary source also cites Base). Underwriting is handled by an offchain 3Jane-operated algorithm (3CA) that sets credit-line size, default-risk premium, and repayment rate. It blends onchain credit scoring from Cred Protocol and Blockchain Bureau with offchain VantageScore 3.0 data attested via zkTLS (a secondary source attributes the zkTLS implementation to Reclaim Protocol); borrowers connect an ETH address, a bank account via Plaid, and Credit Karma. Solvency is enforced onchain through a "credit slasher" combining Jane-score slashing, a pooled-upside model, and non-performing-loan auctions in which licensed U.S. collections agencies bid for recovery rights. Fintech conduit exposures are routed through bankruptcy-remote SPVs.
Go-to-market
Direct onboarding through the protocol website: suppliers deposit USDC to mint USD3 or stake sUSD3; cryptonative borrowers permissionlessly connect wallet, bank (Plaid), and Credit Karma (zkTLS) data to generate a credit line; fintech lenders apply for facilities via a "Get Access" flow. Token incentives ($JANE liquidity mining) are used to bootstrap supply and borrowing. Public documentation, research posts, and an early-access waitlist support the funnel.
Two borrower groups: U.S. fintech lenders and originators of short-duration SMB and consumer receivables seeking warehouse, participation, and forward-flow capital; and U.S.-based cryptonatives β yield farmers, traders, sole proprietors, asset-light businesses, and AI agents β seeking uncollateralized USDC credit lines. On the supply side, the customer is onchain USDC depositors seeking yield.
Geography
Based in the United States according to one secondary source; underwriting and borrowers are described as U.S.-focused, with the company initially focused exclusively on the U.S. market at its seed announcement. Capital supply is global and permissionless via Ethereum.
History
3Jane developed in stealth before publicly announcing a $5.2 million Paradigm-led seed round on June 4, 2025, at which point it targeted a Q3 mainnet launch focused on the United States. Its subsequent public updates describe the launch of USD3/sUSD3, a JANE liquidity mining program, the Levered Callable Capital product, and expansion from direct crypto credit lines into Fintech Credit Conduits, evidenced by an approximately $8.5 million whole-loan purchase from Slope.
Risks & controversies
Sources are largely company-published or aggregator material and disclose limited independent verification. Structural risks are acknowledged in the company's own documentation, which includes dedicated risk sections for suppliers, LCC, and protocol-wide risks; sUSD3 holders explicitly absorb first losses on defaulted credit. The model depends on uncollateralized underwriting of borrowers and on offchain legal recourse via licensed U.S. collections agencies. Source data is also inconsistent: reported round amounts ($5.2M vs $5.0M), round dates (June 2024 vs June 2025), and founding years (2021 vs 2024) conflict across aggregators, and one aggregator lists implausible figures (a $100 total raise at a $50K valuation).
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Competitors Β· 4
by search overlap
Companies competing with 3Jane for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline Β· 5
launches, deals, and filings3Jane executed a whole-loan purchase of approximately $8.5 million of SMB line-of-credit receivables from Slope, an embedded credit infrastructure provider; the purchase was funded by USD3 / sUSD3.
$8.5M source β
Program allows users to earn $JANE by depositing into USD3 and sUSD3, taking out a credit line, and providing liquidity across 3Jane.
LCC converts unfunded committed capital into a syndicated, permissionless primitive, described as offering no cash drag, high execution certainty, and upwards of 10% USD APY in commitment fees.
Paradigm led a $5.2 million seed round in 3Jane, announced alongside the company's exit from stealth. Proceeds support development of its peer-to-pool credit-based money market offering algorithmic, real-time unsecured USDC credit lines to yield farmers, traders, businesses, and AI agents.
$5.2M source β
At the time of its seed announcement, 3Jane said it was hoping to launch its mainnet by the third quarter, with an initial exclusive focus on the United States.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
βΈResearch sources Β· 8
primary sources listed
- 3Jane3jane.xyz Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does 3Jane do?
- 3Jane is an Ethereum credit-based money market funding uncollateralized crypto credit lines and fintech lender conduits via USD3.
- Who are 3Jane's investors?
- 3Jane's investors include Breed, Paradigm.
- How much funding has 3Jane raised?
- 3Jane has disclosed $5M raised across 1 of its 2 known rounds.