Convertible JPY Token (CJPY) stablecoin analytics
Answer First
What is Convertible JPY Token (CJPY)?
CJPY is Yamato's decentralized Japanese yen stablecoin, minted from overcollateralized ETH pledges via Liquity-v1-style permissionless CDPs. The static profile records its Japanese Yen peg mechanism as: Overcollateralized ETH CDPs (pledges) with game-theory peg maintenance: (1) hard floor via on-chain redemption of 1 CJPY for 1 JPY worth of ETH from the riskiest pledge; (2) subrogation mechanism uses accumulated protocol fees to...
Is CJPY safe?
Pharos does not assess CJPY as safe: it holds an F Safety Score grade (39/100) in the latest published rating, which flags significant structural risk. Static metadata says Convertible JPY Token uses a Decentralized (DeFi) governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Convertible JPY Token (CJPY) static profile: governance model Decentralized (DeFi); backing model Crypto-Collateralized; peg Japanese Yen.
AI summary / Updated Sep 7, 2026
CJPY is Yamato's decentralized JPY stablecoin from ETH-only CDPs, built by DeFiGeek Community Japan without a corporate issuer. The mechanism echoes Liquity's playbook: deposit ETH at 130% minimum collateralization, borrow CJPY with a one-time fee and no accruing interest, and use accumulated protocol fees to absorb underwater positions. Its redemption route lets CJPY return one yen worth of ETH from the riskiest pledge, giving the peg an on-chain floor without a bank account. The N/A overall grade is set by the...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- ETH only; 130% minimum collateralization ratio (MCR) at issuance; pledges below the 130% health-rate threshold become redeemable through Yamato's non-forced redemption mechanism; one-time borrowing fee with no accrued interest
- Peg Mechanism
- Overcollateralized ETH CDPs (pledges) with game-theory peg maintenance: (1) hard floor via on-chain redemption of 1 CJPY for 1 JPY worth of ETH from the riskiest pledge; (2) subrogation mechanism uses accumulated protocol fees to automatically repay positions below 100% health rate; (3) non-forced liquidation where any user can redeem debt positions below 130% using market-purchased CJPY
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Ethereum.
Next Actions
Exact bot target: /subscribe dews,depeg,safety cjpy-yamato
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
CJPY quick answers
What is Convertible JPY Token (CJPY)?
CJPY is Yamato's decentralized Japanese yen stablecoin, minted from overcollateralized ETH pledges via Liquity-v1-style permissionless CDPs. The static profile records its Japanese Yen peg mechanism as: Overcollateralized ETH CDPs (pledges) with game-theory peg maintenance: (1) hard floor via on-chain redemption of 1 CJPY for 1 JPY worth of ETH from the riskiest pledge; (2) subrogation mechanism uses accumulated protocol fees to...
Is CJPY safe?
Pharos does not assess CJPY as safe: it holds an F Safety Score grade (39/100) in the latest published rating, which flags significant structural risk. Static metadata says Convertible JPY Token uses a Decentralized (DeFi) governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs CJPY?
Pharos classifies CJPY backing as Crypto-Collateralized. Collateral, per the static profile: ETH only; 130% minimum collateralization ratio (MCR) at issuance; pledges below the 130% health-rate threshold become redeemable through Yamato's non-forced redemption mechanism; one-time borrowing fee with no accrued interest Reserve evidence: live reserve feed configured.
Can CJPY be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for CJPY, when applicable, appear in the dossier below.
