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Seamless access to the Yen (¥) digitally withJPYT
The Key to Web3
JPYT is pegged 1:1 to the yen (¥), issued on the Optimism blockchain
Fully backed by locked USDT
Gas-free transactions with JPYT Smart Wallet (ERC-4337)
What is DePhaser?
DePhaser is a DeFi platform that allows users to lock in USDT and mint JPYT, a stablecoin pegged 1:1 to the Yen (¥). By leveraging blockchain technology, DePhaser ensures full transparency, as each JPYT token is backed by verifiable USDT reserves.
What is JPYT?
JPYT is a stablecoin pegged 1:1 to the Japanese Yen (¥), fully backed by USDT reserves. It uses Chainlink oracles to maintain an accurate peg by tracking the real-time market rate of the Yen. Secured by AAVE's smart contracts, JPYT ensures transparency, security, and trust for users, making it ideal for seamless transactions and cross-border payments.
Documentation
For more details on DePhaser and JPYT, please visit our documentation.
How it works
DePhaser allows users to mint JPYT by locking in USDT on the platform. The process begins when users deposit USDT, which is securely stored in AAVE’s smart contracts.
Before minting JPYT, DePhaser fetches the real-time USD to JPY exchange rate from Chainlink oracles, ensuring the conversion rate is accurate and transparent.
Once the user confirms the transaction, the smart contract mints an equivalent amount of JPYT, which is then sent to the user's wallet. This ensures that each JPYT is fully collateralized by the corresponding USDT reserve.
Trustless Yen (¥) Stablecoin
Pegged 1:1 to the Yen (¥)
DePhaser integrates a Chainlink to provide real-time market data for the exchange rate between USDT and the Yen. This ensures that every minting session of JPYT is based on the most up-to-date and accurate market information.
Backed by Locked-In USDT
JPYT is not minted out of thin air but is fully backed by USDT locked into the DePhaser platform by its users. This ensures that every JPYT in circulation is backed by a stable and transparent reserve, providing confidence to users in the stability of the coin.
Secured by AAVE
One of the key security measures of DePhaser is that DePhaser itself does not hold or store user funds. Instead, all USDT that users lock into the platform is immediately and automatically transferred to AAVE, a leading decentralized lending protocol.
Use JPYT With NO Gas!
The JPYT Smart Wallet (ERC-4337) enables users to pay gas fees directly with JPYT, eliminating the need for traditional gas tokens like ETH. This allows users to focus solely on JPYT for all transactions, streamlining the payment process.
FAQ
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