7D price · CoinGecko market data.
| Exchange | Pair | 24h Volume | Spread | Trust | |
|---|---|---|---|---|---|
| Curve (Ethereum) |
| CJPY/0XC02A…56CC2 |
| $854.02 |
| 0.60% |
| TRADE |
| Curve (Ethereum) | 0XF939…C1B4E/CJPY | $777.53 | 0.60% | TRADE |
| Curve (Ethereum) | CJPY/0X961D…5301D | $4.99 | 0.71% | TRADE |
Top 3 exchanges by 24h trading volume. Block Insider earns affiliate commission from some exchanges listed here. Placement does not affect editorial.
What is the project about? CJPY represents a collateral debt position issued on Yamato Protocol, a decentralized and non-custodial platform on Ethereum developed by DeFiGeek Community Japan. CJPY serves as an ETH overcollateralized stablecoin designed to maintain a peg to the Japanese Yen.
In the future, the Yamato protocol will expand to encompass various tokens as collateral, and a diverse range of fiat stablecoins will be introduced, initially including USD and EUR pegs. What makes your project unique? Yamato Protocol distinguishes itself through 5 attributes as a decentralized and non-custodial crypto overcollateralized stablecoin: 1.
High Collateral Factor: The protocol permits a minimum health rate of 130%, ensuring efficient use of collateral. 2. Absence of Accrued Interest: Users are subject solely to a one-time issuance fee upon generating CJPY. 3. Non-Forced Liquidation: No penalty for liquidation.
Debt positions with health rates below 130% can be redeemed by any users via CJPY acquired from the market. 4. Redemption by protocol: Accrued CJPY fees on protocol can be used to redeem debt position under threshold. 5. Subrogation Mechanism: The protocol employs the accumulated CJPY fees to subrogate debt positions falling below the 100% health rate threshold.
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