Dephaser JPY (JPYT) stablecoin analytics
Answer First
What is Dephaser JPY (JPYT)?
JPYT is DePhaser's yen stablecoin, minted by locking USDT on Optimism or USDC on Base against a yen FX oracle, with collateral returned on redemption. The static profile records its Japanese Yen peg mechanism as: Users lock USDT (Optimism) or USDC (Base) to mint JPYT priced off real-time USD/JPY rates from Chainlink and Pyth oracles; the deposited collateral is routed into Aave, and redemption burns JPYT to return the underlying USDT or USDC
Is JPYT safe?
Pharos does not assess JPYT as safe: it holds a D Safety Score grade (47/100) in the latest published rating, which flags significant structural risk. Static metadata says Dephaser JPY uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Dephaser JPY (JPYT) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg Japanese Yen.
AI summary / Updated Sep 7, 2026
JPYT is Dephaser's yen-pegged token on Base and Optimism, minted against locked USDT or USDC priced through an FX oracle, with thin liquidity and high-dependency collateral. The locked stablecoins are routed into Aave rather than held directly, making the reserve view dependency collateral rather than a cash yen reserve. Price and market-cap coverage are present, but the supply is small and the peg depends on Dephaser's mechanism, USDT collateral quality, and thin secondary liquidity. Economic control is the...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- USDT (Optimism) and USDC (Base) deposited by users to mint JPYT; locked collateral is automatically transferred into Aave for safekeeping rather than held directly by DePhaser, backing JPYT against the yen
- Peg Mechanism
- Users lock USDT (Optimism) or USDC (Base) to mint JPYT priced off real-time USD/JPY rates from Chainlink and Pyth oracles; the deposited collateral is routed into Aave, and redemption burns JPYT to return the underlying USDT or USDC
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety jpyt-dephaser
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.
JPYT quick answers
What is Dephaser JPY (JPYT)?
JPYT is DePhaser's yen stablecoin, minted by locking USDT on Optimism or USDC on Base against a yen FX oracle, with collateral returned on redemption. The static profile records its Japanese Yen peg mechanism as: Users lock USDT (Optimism) or USDC (Base) to mint JPYT priced off real-time USD/JPY rates from Chainlink and Pyth oracles; the deposited collateral is routed into Aave, and redemption burns JPYT to return the underlying USDT or USDC
Is JPYT safe?
Pharos does not assess JPYT as safe: it holds a D Safety Score grade (47/100) in the latest published rating, which flags significant structural risk. Static metadata says Dephaser JPY uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs JPYT?
Pharos classifies JPYT backing as Crypto-Collateralized. Collateral, per the static profile: USDT (Optimism) and USDC (Base) deposited by users to mint JPYT; locked collateral is automatically transferred into Aave for safekeeping rather than held directly by DePhaser, backing JPYT against the yen Reserve evidence: live reserve feed configured.
Can JPYT be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for JPYT, when applicable, appear in the dossier below.
