Lending money in crypto is easy. Getting it back? That’s the hard part.

Yet 3Jane, the Paradigm-backed credit market that gives unsecured loans to yield farmers, just posted a perfect score: 100% repayment rate across its first 52 borrowers for the November 1 minimum payment cycle.

Founder @_yakovsky put it bluntly:

“Giving money is easy, getting it back is the challenge.
3Jane hit a 100% payment rate for the Nov. 1 cycle across our first 52 yield farmers.
The first real signal our unsecured model can scale from 50 → 5,000 → 50,000.”

This isn’t just another DeFi stat drop — it’s onchain proof that reputation-based, no-collateral lending can survive real market stress.

Why this matters for memecoin degens

Most leverage in crypto today is over-collateralized (think Aave, Compound, Morpho). You want $100k to ape the next dog coin? Lock up $150k+ first.

3Jane flips the script: qualified traders get credit lines based on their track record and verified backing — no liquidation worries, no collateral posted. That’s rocket fuel for high-conviction memecoin snipers and yield farmers who live trade-to-trade.

The timing couldn’t have been tougher — October and early November saw major drawdowns and at least one tokenized hedge-fund insolvency. Still, every borrower paid the required 1% minimum on time.

The numbers from the full transparency thread

< Image src="https://pbs.twimg.com/media/G5-JsOTbwAAhBcH.png" alt="3Jane historical TVL and total credit deployed chart" width={800} height={450} />

• ≈ $6M in unsecured credit extended
• 52 active “merchants” (borrowers)
• Average credit line ≈ $133k, median ≈ $62k
• Average borrower VantageScore 777/850 (prime / super-prime territory)
• 100% on-time minimum repayment (1% of outstanding)
• Backing ratio held ~11–12% even through drawdowns → roughly $9 of verified value for every $1 borrowed
• Borrowers paid ~11% implied APY while suppliers earned 400–600 bps over top Morpho/Aave vaults

The protocol also deployed a $1M insurance fund as a first-loss equity tranche, giving depositors an extra ~16% buffer.

Everything is fully auditable:

• Market contract: 0xDe6e08ac208088cc62812Ba30608D852c6B0EcBc
• Insurance fund: 0x4507B5B23340D248457d955a211C8B0634D29935
• Dune dashboard: https://dune.com/takeabreath/3jane
• Public info page: https://app.3jane.xyz/info

What’s next?

The team says they’ll raise caps soon and still have ~25 spots open for the next U.S.-only cohort.

If you’re a consistent farmer sitting on real PnL, this could be the cheapest, most flexible leverage you’ve ever had.

For the rest of us watching from the sidelines, a working unsecured lending model at scale would be one of the biggest unlocks in onchain finance since perpetuals. More capital velocity → more liquidity → bigger pumps → happier degens.

We’ll keep tracking it. If 3Jane can keep this repayment streak alive while 10x-ing the user count, the entire memecoin meta might feel the ripple effects.