Ethereum Ecosystem

<p>Convertible JPY Token (CJPY) is a stablecoin equivalent to the Japanese yen issued by the Yamato protocol. Its value is backed by excess collateral in ETH with a minimum ratio of 130% and maintained through an arbitrage redemption mechanism at a fixed price of 1 yen. It is issued through a decentralized application (DApp) that does not require user identification and operates on a one-time fee model instead of interest, shifting the risk of collateral liquidation to the protocol itself and the redemption system, rather than to individual borrowers.</p><p>The stability of the CJPY peg is ensured by game theory and arbitrage opportunities: if the price falls below 1 yen, demand arises to pay off debt or redeem collateral at par; if the price exceeds parity, new CJPY is issued for sale on the market. The protocol is governed by a DAO using the native YMT token.</p>

Convertible JPY Token

CJPY is a stablecoin equivalent to the Japanese yen issued by the Yamato protocol.

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Convertible JPY TokenCJPY

Historical Data for Convertible JPY Token