What is CONVERTIBLE JPY TOKEN(CJPY)?

Basic information about CJPY

Coin name:

Convertible JPY Token

Coin symbol:

Coin introduction:

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.

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Current Price:

$0.005049More coin details

All-time high:

$0.007363

All-time low:

$0.001343

CJPY Supply Info and Tokenomics

Circulating supply:

212M

Total supply:

212M

Max supply:

Market cap:

$1.073M

Fully diluted valuation:

$1.073M

What is the outlook and future value of CJPY?

The current market cap of CJPY is $1.073M, ranked 3607 in the market, showing that the market already recognizes the value of CJPY. When a bull market arrives, the market cap of CJPY may continue to grow.

Moreover, if CJPY can play a greater role in real-world applications—such as if the Monero developers can fully empower CJPY and establish partnerships with more business partners to expand its user base—then the long-term value of CJPY will be further enhanced.

What is the price of CJPY in 2027?

According to the historical price performance prediction model of CJPY, the price of CJPY is expected to reach $0.005301 at 2027.

Note: As with any crypto investment, investors should closely monitor ’s performance and stay aware of the risks. The crypto world is highly volatile, and adequate research and preparation are necessary.

How else can I get CJPY?

Purchasing CJPY with cash is not the only way to obtain CJPY. If you have enough time, you can get CJPY for free.

Learn how to get Hot rewards for free with CJPY.

Earn free CJPY by inviting friends to join LBank My Activity|LBank Reward Center

Join LBank Launchpad to get CJPY airdrops for free.

All crypto airdrops and rewards can be exchanged for CJPY through LBank spot trading.

Buy CJPY starting from $1

What is CJPY used for and how to use it?

The use cases for CJPY may grow with the development of the crypto market and project progress. Currently, you can use CJPY to:

Arbitrage trading of CJPY

CJPY is frequently traded, with constant price fluctuations. You can profit from buying low and selling high. LBank Spot market offers many CJPY trading pairs to suit your needs.

Earn yield with CJPY

You can also lend out CJPY or use other Earn products to gain returns. LBank Earn platform provides a wide variety of investment products to help you maximize your CJPY gains.

Send or pay with CJPY

If you want to pay someone with CJPY, you can easily and quickly send CJPY to them using their receiving address.

You can also visit the official website of Convertible JPY Token to learn more use cases of CJPY, such as whether the Convertible JPY Token project supports community/eco apps or buying physical or virtual goods with CJPY.