@wumpycrypto

to scale as a cryptonative credit facility financing warehouses & forward flows, 3jane needs a way to a) have certainty of execution on originations b) minimize cash drag by holding idle t-bills these two structurally conflict with each other & pushed us down a rabbit hole to create a new defi primitive

for 3jane enjoyers, yvUSD has ~ 20% allocated into lending against USD3 meaning it gets $JANE rewards & you can leverage up ~ 10x on this exposure through @flexmeow while accessing fixed rates https://t.co/06Tk4uftgA

right now, we have diversification at the obligor level with ~ 18k outstanding loans soon, we'll be bringing greater originator diversification

47% net APY + $JANE $2m left to kink (though borrow rates have been varying heavily) https://t.co/EnRaSAXLA4

flex is genuinely one of the most novel money market structures i’ve seen enabling 100% utilization while keeping lenders completely liquid & allowing market discovery for fixed rate borrowing