CJPY vaults
- This stablecoin is likely depegged. The current rate is 193.8 CJPY / 1 USD fetched at .
About Yamato CJPY
CJPY is a Japanese Yen-pegged stablecoin issued by the Yamato Protocol on Ethereum. It is overcollateralised by ETH deposits and designed for the Japanese DeFi ecosystem. Users can mint CJPY by depositing ETH as collateral with a minimum collateral ratio of 130%.
Stablecoin price 1 CJPY = $0.01
CJPY is the native stablecoin of Yamato Protocol, a CDP-based stablecoin protocol developed for the Japanese DeFi community. It maintains a soft peg to the Japanese Yen (JPY) using ETH as collateral.
Mechanism
- Overcollateralised CDP model: users deposit ETH and mint CJPY
- Minimum collateral ratio: 130% (known as the "Licuefaction" threshold)
- Redemption mechanism maintains the peg by allowing CJPY holders to claim collateral
- Protocol includes a stability pool (Yamato Pledge) for absorbing liquidations
Sources
0
vaults TVL $0 Avg. return --- Stablecoin-only Updated
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