# Liquidity Mining

$JANE is the 3Jane protocol token. There is nothing else. 

#### $JANE Core Distribution Mechanics \[Suppliers + Pullers]

* $JANE emissions are split into weekly epochs.
* $JANE total token supply will be between 1,111,111,111 and 6,666,666,666.
* $JANE is distributed to suppliers, pullers, and other actors in a dynamic scaling mechanism. 
* $JANE realized APY of the emissions are a function of (a) realized total token supply at TGE (b) FDV at TGE. APY figures will deviate between the total token supply range. 
* $JANE is distributed based on daily TWAB snapshots.
* Transferability will be enabled in 2026.

<details>

<summary>Example of Weekly Epoch</summary>

For illustrative purposes, 5m $JANE (representing between 0.075% - 0.45% of TTS) will be distributed in this example epoch, split among the following actions:

* Holding USD3 - 700k
* Holding Pendle LP-USD3 - 1.5m
* Holding Pendle YT-USD3 - 2.75m
* Withdrawing credit line - 50k

The internal KPIs required for each action to begin emission scaling are:

* Holding USD3 - $10m TVL
* Holding Pendle LP-USD3 - $10m TVL
* Holding Pendle YT-USD3 - $10m in PT/YT TVL
* Withdrawing credit line - $8m on-credit

Model of USD3 emissions:

| Day | TVL  | $JANE emissions | $JANE per $ | % TTS Emitted      | APY @ 250m FDV  |
| --- | ---- | --------------- | ----------- | ------------------ | --------------- |
| 1   | $1m  | 100k            | 0.1         | 0.0015% - 0.009%   | 286% - 205,000% |
| 2   | $4m  | 100k            | 0.025       | 0.0015% - 0.009%   | 41% - 649%      |
| 3   | $8m  | 100k            | 0.0125      | 0.0015% - 0.009%   | 19% - 176%      |
| 4   | $10m | 100k            | 0.01        | 0.0015% - 0.009%   | 14.6% - 126%    |
| 5   | $15m | 150k            | 0.01        | 0.00225% - 0.0135% | 14.6% - 126%    |
| 6   | $20m | 200k            | 0.01        | 0.003% - 0.018%    | 14.6% - 126%    |
| 7   | $25m | 250k            | 0.01        | 0.00375% - 0.0225% | 14.6% - 126%    |

This model shows two important parts of the $JANE Liquidity Mining program:

* early depositors are disproportionately rewarded by locking up $JANE based on daily TWAB snapshots
* late depositors are ensured competitive APYs through dynamic $JANE emission scaling once internal KPIs are met

*This is merely an example of a weekly epoch and not indicative of real $JANE distribution.*

</details>

**Additional mechanics -** see Credit Slasher and its interoperability with the $JANE token.&#x20;

This will evolve into a more tightly-coupled and comprehensive tokenomics as the protocol scales and we learn what works and what doesn't - this may include governance, staking, fee accrual, slashing, and other novel mechanisms that are value accretive to both the protocol and token.&#x20;