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. History of your project. January 2021: The DeFiGeek Community Japan embarked on the development of Yamato Protocol, a decentralized and non-custodial crypto overcollateralized stablecoin pegged to JPY. The community has functioned with an inclusive approach, welcoming all developers and contributors who are eager to take part in the enhancement of DeFi applications and tools that drive the advancement of Web3 technology. Milestones of Yamato Protocol: November 2021: The alpha testing phase commenced on the Rinkeby testnet. January 2022: The beta testing phase debuted on the Rinkeby testnet. May 2022: The second beta testing phase transpired on the Rinkeby testnet. June 2023: Successful completion of the initial audit. July 2023: Launch of version 1 on the Ethereum mainnet. What’s next for your project? At present, Yamato Protocol stands at version 1.0 without a utility token. Anticipated milestones include: Version 1.5 (2023): Introduction of the DAO utility token and the implementation of ve(vote-escrowed) governance. Version 2.0 (Late 2023): Enabling issuance of additional stablecoins like CEUR (convertible EUR) and CUSD (convertible USD). What can your token be used for? CJPY represents a decentralized JPY-pegged token on the Ethereum blockchain, offering versatility to users and other protocols. Its anticipated adoption spans various DeFi Dapps, encompassing DEX and lending protocols. Given its decentralized and non-custodial nature, CJPY holds the potential for widespread adoption as a payment medium within the Japanese crypto business ecosystem.
Convertible JPY Token is ranked #2870 by market capitalization. Currently the CJPY market cap exceeds 9.97M+ Swedish Krona. By market capitalization it is ranked #2870. Daily trade volume is 27,329 SEK.
The Convertible JPY Token price today in SEK is 0.04689676. Through the Convertible JPY Token price history, the price ranges from 0.08048 SEK (all time high) to 0.01264177 SEK (all time low). Convertible JPY Token price last 24 hours fluctuated from 0.04786178 SEK (24h high) to 0.04665943 SEK (24h low).
Check the Convertible JPY Token value today and exchange rates with more than 15 cryptocurrencies and fiat currencies including USD EUR GBP CNY JPY BRL RUB UAH INR CZK VND TRY CHF SEK BTC ETH BNB
Homepage: https://app.yamato.fi/
Block explorers: https://etherscan.io/token/0x1cfa5641c01406ab8ac350ded7d735ec41298372 https://intel.arkm.com/explorer/token/convertible-jpy-token https://ethplorer.io/address/0x1cfa5641c01406ab8ac350ded7d735ec41298372
Forums: https://defillama.com/protocol/yamato-protocol https://defigeek.xyz/en/blog/ https://twitter.com/DeFiGeekJapanEN
Twitter: https://twitter.com/YamatoProtocol/
Convertible JPY Token live price may differ in various exchanges. Check CJPY real-time data to make informed decisions.
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In short, only if the current value of Convertible JPY Token will be less than the value of Convertible JPY Token at the moment of selling in the future. The Convertible JPY Token chart can only assist the Convertible JPY Token value today versus tomorrow, or the distant future. No one can guarantee you the profit but the REVENUEBOT is free until it brings you money. Please note that information concerning current Convertible JPY Token value or any other information on this page can not be considered investment, trading, financial advice or any sort of recommendation to act in the financial market. The content is provided for informational purposes only.
The answer to these questions depends on the CJPY supply. Check the Convertible JPY Token live chart to see the current supply and predict how long it will take for the coins to run out. The total supply of Convertible JPY Token is 212623613.26 CJPY, while CJPY circulation supply now is 212623613.26 CJPY.
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