Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$0Buyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Nov 2026 | $0 | -- | -- | -- |
| Oct 2026 | $2.78K | -- | -- | -- |
| Sep 2026 | $5.72K | -- | -- | -- |
| Aug 2026 | $2.39K | -- | -- | -- |
| Jul 2026 | $5.82K | -- | -- | -- |
| Jun 2026 | $782.78 | -- | -- | -- |
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About 3F
3F is an on-chain RWA leverage protocol letting users lever tokenized treasuries and private credit while stablecoin depositors lend through Morpho vaults, positioning itself at the junction of yield aggregation and leverage. Its Bridge Facilitator uses short-term bridge loans to cover the gap between RWA subscription and settlement, splitting principal and yield into PT and YT with RFQ quotes enforced on-chain, and its pricing model relies on oracle feeds and RWA redemption timing, coupling leveraged liquidation logic with the settlement lag of underlying assets; a restaking layer supplies just-in-time liquidity for bridging so institutional market makers join without idle balances.
In July 2026 3F integrated Symbiotic so restaked capital funds just-in-time bridging, yet its trade-off is concentrated risk in oracle deviation, delayed RWA redemptions and leveraged liquidation, and whether RWA looping becomes auditable infrastructure rather than manual arbitrage is the key test.
3F positions itself as onchain leverage for RWAs, letting users lever up tokenised treasuries and private credit while stablecoin depositors lend through Morpho vaults.
On April 23, 2026 3F raised a $4 million seed led by Maven 11 with F-Prime, Metalayer Ventures, GSR, Susquehanna Crypto and Gate Ventures, after a $750,000 pre-seed.
Its Bridge Facilitator mechanism uses short-term bridge loans to cover the gap between subscribing to an RWA and its settlement, splitting principal and yield into PT and YT, quoted by RFQ and enforced onchain.
On July 21, 2026 3F integrated Symbiotic so restaked capital can fund just-in-time bridging, letting institutional market makers participate without idle balances.
In Q2 2026 3F ran a private beta on Ethereum mainnet, disclosing $12.1 million in exposure, up to 17x leverage and a 22.75% maximum yield, with a team of about six.
Its risks sit in oracles, delayed RWA redemptions and leveraged liquidations; turning RWA looping from a manual trade into auditable infrastructure is the next test.
On April 23, 2026 3F closed a $4 million seed round led by Maven 11 with F-Prime, Metalayer, GSR, Susquehanna Crypto, Gate Ventures and Pivot Global participating, followed by a strategic investment from Gate Ventures on April 27; with a $750,000 pre-seed from November 2025 the total is $4.75 million, raised through SAFEs with one-to-one token warrants. A private beta opened that week ahead of a second-quarter launch.
3F's product is built on Morpho, compressing RWA looping leverage into a single settlement: buy the asset with bridge funds, deposit it as Morpho collateral, and borrow stablecoins to repay the bridge. The first target is JAAA, a AAA-rated CLO fund issued by Anemoy, sub-managed by Janus Henderson and tokenized through Centrifuge. On September 9 it launched a AAA CLO leveraged product based on JAAA, claiming total exposure of over $30 million and more than $25 million borrowed on Morpho, with the figures not independently verified; at 3 to 5 times leverage it targets 10% to 14% annualized.
After 3F moved from private testing to public on Ethereum mainnet in the second quarter, its targets are to expand from JAAA, the AAA-rated CLO fund, to more tokenized fixed-income products, and its website already lists three asset classes and leverage of up to 17 times. Revenue comes from a management fee on deployed capital and a performance fee on leveraged returns; the team has only 6 people, with hiring focused on credit underwriting, engineering and security. Liquidity splits two ways: institutions use whitelisted permissioned pools and take part in bridging and liquidation, while retail uses open vaults on Morpho.
Romeo Ravagnan is co-founder. He has long worked in the intersection of DeFi and RWA on research and engineering, owns protocol and capital-side design, and co-founded 3F with Sonya Kim in 2025.
Sonya Kim is co-founder. She leads interface design and the institutional front end, splitting the one-click flow into vault selection, leverage choice, flash-loan and bridge coordination, and automated liquidation, and co-founded 3F with Romeo Ravagnan in 2025.
The two founders split responsibilities on the protocol layer and the client interface, forming the core headcount, with institutional engagement led by Sonya Kim while Ravagnan concentrates on collateral structure, liquidation parameters and the logic for automated rebalancing.