No, The line otherwise is essentially new. Bought it August of last summer if I recall correctly. If I had to guess, It's probably got 30ish days on it. The coating cracked and then started to peel back at the junction of the loop and mainline. Stress point I guess--one side is stiffer than the other, so it bends a lot at that point.
If it's not that issue is the mono from your perfection loop cutting into the coating and wrecking it.
I just took some 30lb maxima and did a nail knot and a perfection loop and then joined that to my 30lb butt section.
Haven't tried it yet, but looks nice anyhow.