3Jane USD3

3Jane USD3 is the yield-accruing dollar token of the 3Jane credit protocol, which runs on Ethereum. Although the catalogue lists it as a stablecoin, it is not a fixed-value payment instrument in the classic sense; it is a vault token that users mint by depositing USDC and that represents a share in a credit pool. The protocol uses the capital gathered in this pool to provide asset-backed financing to fintech companies that make loans.

The pool's capital structure has two tranches: USD3 represents the senior tranche, while sUSD3, obtained by staking USD3, is the junior tranche. If the pool incurs losses, sUSD3 holders are affected first; in return, they receive a larger share of the yield. Processes such as finding borrowers, credit assessment and collections remain with the fintech companies receiving the financing, while 3Jane allocates capital across approved facilities. USD3 is designed to conform to Ethereum's tokenized vault standard.

The value of USD3 depends on the repayment performance of the loans in the pool, the credit risk of the fintech lenders, smart contract security and the stability of the deposited USDC; for this reason it may not stay at a one-to-one dollar level. Lzzo.com publishes DefiLlama's US dollar reference price for this token, and the chart is based on the same source's historical data.