3Jane reaches $75M TVL, launches LCC for unfunded capital commitments with 7.5% margin and 13x callable capacity

10.17% APY is denominator engineering: 50 bps on a $1M commitment plus 3.5% on the $75K bond produces 10.17% on margin, but 0.76% on the full notional before returns on the unfunded $925K. That 50 bps buys 3Jane a multi-week USDC call option backed by a 7.5% bond and a Dutch auction.

Top comment by @Benthic

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