3Jane推出杠杆可调用资本协议LCC，质押7.5%保证金承诺提供13.33倍
One novel DeFi launch you might have missed this month, is @3janexyz's levered c…
这是一个机制清晰、参数具体的DeFi套利/收益机会，涉及保证金与承诺额度的杠杆结构及违约惩罚机制，适合关注链上信贷与合成资产策略的从业者留意风险并研究其可行性。
One novel DeFi launch you might have missed this month, is @3janexyz's levered callable capital (LCC).
本月你可能错过的一个新型 DeFi 项目是 @3janexyz 的杠杆可调用资本（LCC）。
3Jane has now grown USD3 minted to over $100M!
3Jane 现已将 USD3 铸造量增长至超过 1 亿美元！
A lending protocol's resource is capital and this LCC's resource is to make promises onchain, that turn unfunded committed capital into a DeFi-native, globally syndicated, permissionless primitive.
借贷协议的资源是资本，而 LCC 的资源是在链上做出承诺，将未注资的承诺资本转化为一种 DeFi 原生、全球辛迪加、无需许可的原语。
Lenders earn a "promise yield" on staked margin, in exchange, for promising to lend USDC for deployment into fintech credit facilities, if/when 3Jane calls.
贷款人通过在质押保证金上获得“承诺收益”，作为交换，他们承诺在 3Jane 发出调用时/若发出调用时，将 USDC 借出并部署到金融科技信贷设施中。
Instead of legal agreements to meet a capital call, they have designed incentives onchain so they can have promised capital on-hand to provide fintechs with warehouse facilities, forward-flow programs, and credit lines. Afaik, this is all a first-time intro in DeFi.
为了应对资本调用，他们没有使用法律协议，而是在链上设计了激励机制，以便随时拥有已承诺的资本，为金融科技公司提供仓库融资、前置流计划和信贷额度。据我所知，这在 DeFi 中是首次引入。
Lenders deposit 7.5% margin, on a promise to fund 13.33x more, ie they stake $75k margin and promise to fund $1M or maybe stake $7500 and promise to fund $100,000.
贷款人存入 7.5% 的保证金，并承诺资助多 13.33 倍的金额，即他们质押 7.5 万美元保证金并承诺资助 100 万美元，或者质押 7500 美元并承诺资助 10 万美元。
As a lender, you get to maintain custody of your USDC elsewhere while making the promise to fund much more on 3Jane and get paid a bonus 1.25%/year for the promised amount, which when you add up 1.25% of say $1M, that's $12,500 extra while you've only put up a $75,000 bond into the 3Jane app.
作为贷款人，你可以在别处保留对 USDC 的控制权，同时在 3Jane 上做出资助更多资金的承诺，并获得基于承诺金额的额外 1.25%/年的奖金。例如，如果承诺金额为 100 万美元，那么 1.25% 就是 12,500 美元的额外收入，而你只需向 3Jane 应用程序存入 75,000 美元的保证金。
Assuming someone deposits $75,000 USDC and Aave USDC base APY is 3.95%:
假设有人存入 75,000 美元 USDC，且 Aave USDC 的基础 APY 为 3.95%：
1.25% ($1M promise) + 3.95% ($75k) = $15,462 yield
1.25%（100 万美元承诺）+ 3.95%（7.5 万美元）= 15,462 美元收益
$15,462 yield / $75,000 lent = 20.62% APY
15,462 美元收益 / 75,000 美元出借 = 20.62% APY
This provides clear incentive to not only stake a small deposit relative to your capital call commitment to fund 3Jane credit facilities, but also gives 3Jane the ability to scale demand for their business with capital backing them, that's not sitting idle, and won't flake on them if/when the capital call is made.
这提供了明确的激励，不仅让你相对于资本调用承诺以较小的存款来资助 3Jane 信贷设施，还使 3Jane 能够利用背后的资本支持来扩大业务需求，这些资本不会闲置，并且在发出资本调用时也不会违约。
When 3Jane calls for that promised capital, lenders must deliver their USDC/USDT within the funding window, and receive USD3 redeemable after a 35-day cooldown. From that point the funded capital carries USD3 credit exposure.
当 3Jane 调用该承诺资本时，贷款人必须在资金窗口内交付他们的 USDC/USDT，并在 35 天的冷却期后获得可赎回的 USD3。从那时起，已注资的资本将承担 USD3 的信用风险敞口。
If they miss the call, their $75k margin is slashed into a Dutch auction, where a backstop bidder funds the shortfall in exchange for margin at a discount.
如果他们错过了调用，他们的 7.5 万美元保证金将被削减进入荷兰拍卖，其中后备投标人以折扣价获取保证金，以填补资金缺口。
TLDR: Earn ~20.6% APY on your $75k staked margin, in return for committing to fund up to $1M but also face repercussions of losing that staked margin if you fail to meet your obligatory capital call.
简而言之：在你质押的 7.5 万美元保证金上赚取约 20.6% 的 APY，作为回报，你承诺最多资助 100 万美元，但如果未能履行强制性的资本调用义务，也将面临损失该质押保证金的后果。
🔗 Check it out at: http://app.3jane.xyz/lcc
🔗 在此查看：http://app.3jane.xyz/lcc
更进一步：量化金融体系
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