TL;DR: We are excited to announce that 3Jane just sold ~$2.6M in ETH call options on EigenLayer! Depositors earned ~8% APY in real eETH yield on top of staking + restaking yield. 3Jane is the very first to unlock $ETH yield on >$20B of restaked $ETH via financial derivatives.
Restaking is a ~$20B industry growing ~15x year-to-date and capturing ~15% of the ETH market. For now, the restaking industry is 100% bootstrapped by risk-free yield (points). In order for EigenLayer to cross the chasm and cement itself as a fundamental crypto primitive it must eventually facilitate scalable economic activity. There are two ways to achieve this
AVS Yield - secure other cryptoeconomic systems in exchange for slashing risk. Yield source: AVS security budget.
Derivatives Yield - earn the funding rate or sell volatility in exchange for financial risk. Read more. Yield Source: funding rate / options premiums.
While the EigenLayer team is busy with solution #1, 3Jane is executing on solution #2.
3Jane: Derivatives Yield
3Jane is a crypto-native derivatives protocol built on restaking. 3Jane unlocks a novel derivatives yield layer by enabling the collateralization of all exotic yield-bearing ETH variants in *options contracts*. As a result, restakers can earn +10-15% APY in ETH yield on top of staking/restaking yield.
First Derivatives Execution
3Jane just executed its first options sale, selling ~$2.6M in ETH call options to our institutional market makers in exchange for yield. 3Jane depositors earned ~8% APY in real eETH options yield on top of staking + restaking yield!
Size: 666 eETH call option contracts
Instrument: weETH-14JUN24-4450C
Premiums Earned: ~0.98 eETH
Yield: 0.0147% (~8% APY)
Transaction
3Jane is the first ETH yield source for all EigenLayer assets and the first step towards financializing EigenLayer by sourcing yield not just from AVS security but also from financial derivatives.
Deposit today to earn $ETH on your restaked assets: 3jane.xyz
3Jane will *not* be offered to persons or entities who are U.S. Persons, Restricted Persons, or Sanctioned Persons. Access and use by such persons is expressly prohibited.
TL;DR: We are excited to announce that 3Jane just sold ~$2.6M in ETH call options on EigenLayer! Depositors earned ~8% APY in real eETH yield on top of staking + restaking yield. 3Jane is the very first to unlock $ETH yield on >$20B of restaked $ETH via financial derivatives.
Restaking is a ~$20B industry growing ~15x year-to-date and capturing ~15% of the ETH market. For now, the restaking industry is 100% bootstrapped by risk-free yield (points). In order for EigenLayer to cross the chasm and cement itself as a fundamental crypto primitive it must eventually facilitate scalable economic activity. There are two ways to achieve this
AVS Yield - secure other cryptoeconomic systems in exchange for slashing risk. Yield source: AVS security budget.
Derivatives Yield - earn the funding rate or sell volatility in exchange for financial risk. Read more. Yield Source: funding rate / options premiums.
While the EigenLayer team is busy with solution #1, 3Jane is executing on solution #2.
3Jane: Derivatives Yield
3Jane is a crypto-native derivatives protocol built on restaking. 3Jane unlocks a novel derivatives yield layer by enabling the collateralization of all exotic yield-bearing ETH variants in *options contracts*. As a result, restakers can earn +10-15% APY in ETH yield on top of staking/restaking yield.
First Derivatives Execution
3Jane just executed its first options sale, selling ~$2.6M in ETH call options to our institutional market makers in exchange for yield. 3Jane depositors earned ~8% APY in real eETH options yield on top of staking + restaking yield!
Size: 666 eETH call option contracts
Instrument: weETH-14JUN24-4450C
Premiums Earned: ~0.98 eETH
Yield: 0.0147% (~8% APY)
Transaction
3Jane is the first ETH yield source for all EigenLayer assets and the first step towards financializing EigenLayer by sourcing yield not just from AVS security but also from financial derivatives.
Deposit today to earn $ETH on your restaked assets: 3jane.xyz
3Jane will *not* be offered to persons or entities who are U.S. Persons, Restricted Persons, or Sanctioned Persons. Access and use by such persons is expressly prohibited.
Unlocking Crypto-Native Derivatives Yield. Backed by cryptoeconomic security.
Unlocking Crypto-Native Derivatives Yield. Backed by cryptoeconomic security.
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