# Assets

3Jane underwrites credit lines agains the following asset categories.

## **DeFi Assets**

1. **Stablecoins** – Dollar-pegged tokens held directly on chain, e.g., USDC, DAI, crvUSD.
2. **Majors** – Large-cap, high-liquidity crypto assets such as ETH or WBTC.
3. **Altcoins** – Mid- and small-cap ERC-20 tokens that fall outside the major set.
4. **Hard-lock staking & governance locks** – Positions that require a fixed unlock period: native solo-staked validator keys, veCRV, veAERO, veBAL, stkAAVE, etc.
5. **Staked assets** – Liquid staking receipts that track underlying ETH or other majors (stETH, cbETH, rETH).
6. **Restaked assets** – Tokens representing ETH restaked into EigenLayer or similar frameworks (eETH, rsETH).
7. **Money-market receipts** – Interest-bearing tokens like aUSDC or cDAI that represent deposits in lending markets.
8. **DEX LP tokens** – Positions in spot-AMM liquidity pools on Uniswap, Curve, Balancer, etc.
9. **Yield-aggregator vault shares** – Tokens issued by vaults that auto-compound or leverage underlying strategies (e.g., Yearn v3, Etherfi Liquid).
10. **CDP & vault equity** – Net collateral value remaining after subtracting protocol debt in Maker, Liquity, crvUSD LLAMMA bands, and similar vault systems.
11. **Derivatives-DEX LP equity** – Maker or liquidity-provider shares on perpetual-swap venues such as GMX or Hyperliquid.
12. **Bridge-liquidity stakes** – LP tokens earned for supplying same-asset liquidity to cross-chain bridges (Across, Stargate).
13. **Real-world-asset tokens (RWA)** – On-chain receipts backed by T-bills, commercial paper, or other off-chain credit (Ondo OUSDG, Backed ib01).
14. **Principal tokens (PT)** – Discounted tokens that redeem 1:1 for an underlying asset at a future maturity (Pendle PT-USDe-2026, Element PT-stETH).
15. **Yield tokens (YT)** – Tokens that collect all variable yield generated by an underlying asset until maturity (Pendle YT-DAI).
16. **Liquidity Pool tokens (LPT)** – Pendle LPT.
17. **Insurance LP stakes** – Capital positions in on-chain risk pools such as Nexus Mutual.
18. **Lottery tokens** – Prize-savings tickets where interest funds periodic raffles (PoolTogether v5).
19. **Prediction-market shares** – Outcome tokens for binary and scalar events on platforms like Polymarket.
20. **NFTs** – Floor-priced, high-liquidity collections (e.g., CryptoPunks, BAYC) accepted as collateral.
21. **Social-Fi keys** – Tradable creator or community keys (e.g., FriendTech keys).
22. **Options-selling vault shares** – Deposits in covered-call or put-selling strategies (Ribbon Earn, Dopex SSOV).

## **Centralised-exchange (CEX) assets**

1. **Custodied crypto & stablecoins** – Spot balances visible via read-only API keys on venues such as Coinbase or Kraken.
2. **Fiat balances** – USD and other cash holdings inside exchange wallets.
3. **Exchange earn products** – Principal-protected fixed or flexible savings programs offered by exchanges.

## **Traditional bank (via Plaid)**

1. **Checking & savings cash** – Immediately withdrawable USD balances.
2. **Certificates of deposit (CDs)** – Time-locked deposits at regulated U.S. banks.


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