# ETH Yield on EigenLayer 

By [3Jane ](https://paragraph.com/@3jane) · 2024-06-10

---

**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.

### Introduction

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

1.  **AVS Yield -** secure other cryptoeconomic systems in exchange for _slashing risk._ Yield source: AVS security budget.
    
2.  **Derivatives Yield -** earn the _funding rate_ or _sell volatility_ in exchange for _financial risk._ [Read more](https://mirror.xyz/0x6F75b5FD6DD8aAbbEBCD2d186a6e0386E3e2B0EB/VrpQb1RsKDnGLp69cpvok91Yjj7AoHs2-KvU8eDRIgQ). 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](https://etherscan.io/tx/0xdef8887886443c16ad76e29775626260b83aa11f127e68174ceff42f768078bb)

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](https://www.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.

---

*Originally published on [3Jane ](https://paragraph.com/@3jane/eth-yield-on-eigenlayer)*