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logoDePhaser
DePhaser
The Hub of JPYT
DePhaser is a next-generation DeFi platform introducing JPYT, a stablecoin pegged 1:1 to the Yen (¥). By locking USDT on Optimism or USDC on Base, users can seamlessly mint JPYT and unlock new possibilities in digital finance.
Fully backed by USDT & USDC
USDT-Collateralized Treasury
DePhaser launched JPYT in October 2024, backed by USDT on Optimism. Every JPYT is fully collateralized with locked USDT, providing a transparent and trustless reserve mechanism.
JPYT Contract Address on Optimism
0xc47da4CB96CE65a96844A01Bfae509F9d5454534
USDC-Collateralized Treasury
In September 2025, we expanded JPYT to Base, backed by USDC reserves. Market value and liquidity are maintained through cross-chain balancing, powered by DePhaser smart contracts.
JPYT Contract Address on Base
0xc47da4CB96CE65a96844A01Bfae509F9d5454534
Audited by
Audit Report - JPYT on Optimism
Audit Report - JPYT on Base
CoinGecko listed JPYT in August 2025, where it quickly became one of the top active JPY stablecoins by daily trading volume.
Find JPYT on Coingecko ❯
Token Category
Stablecoins
JPY Stablecoins
Algorithmic Stablecoins
How It Works
1. Choose Collateral & Network— Select USDC on Base or USDT on Optimism
2. Get the Market Rate— DePhaser queries Chainlink & Pyth oracles for the real-time USD/JPY rate.
3. Accept the Rate— You review and approve the quoted rate and transaction in your wallet.
4. Send Collateral— Your USDC/USDT is transferred to the DePhaser Smart Contract.
5. Mint & Secure— The Contract mints JPYT to your wallet; the provided USDC/USDT is deposited into Aave for safekeeping.
6. Use or Swap— You hold JPYT; at any time, you can swap back to USDC/USDT on Uniswap at market rates.
The Digital Future of ¥en: JPYT

Pegged 1:1 to the Yen (¥)

DePhaser integrates Chainlink & Pyth to deliver real-time exchange rate data between USDT, USDC, and the Yen. This ensures that every JPYT minting process is backed by the most accurate and up-to-date market information.

Backed by USDT & USDC

Every JPYT is fully collateralized by USDT or USDC locked through the DePhaser platform, ensuring stability, transparency, and user confidence.

Trustless and Secure

The entire process is automated through audited smart contracts, which deposit locked funds directly into Aave. This ensures that DePhaser never holds custody of user assets.

Endless Utility

By holding JPYT, users can seamlessly exchange it for goods and services across borders without limits. JPYT can also be quickly swapped back to USDC or USDT via Uniswap or the DePhaser interface.

Global Payment

Users worldwide can use JPYT as a digital Yen, enabling seamless payments in Japanese Yen across borders.

JPYT Wallet
JPYT Smart Wallet (ERC-4337) lets users pay gas fees directly in JPYT, removing the need for ETH or other gas tokens. This streamlines transactions and allows users to operate entirely within JPYT.
Explore JPYT Smart Wallet ❯
Docs
Discover more about the DePhaser ecosystem in our documentation, where we explain how the platform operates, the mechanisms behind JPYT, and our vision for future growth and innovation.
Read our Documentation ❯
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Please feel free to contact us — we’d love to hear from you.
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