Protocol Information
JPY DeFi (ticker JPYdf) is a CDP protocol on Ethereum. Users deposit collateral and borrow JPYdf, a crypto-asset-backed stablecoin that aims to track the value of the Japanese yen. Anyone can mint JPYdf without permission, and JPY DeFi aims to build an on-chain yen market. It aims to offer low-cost borrowing, and Stability Pool depositors can claim a share of borrowing interest and fees. JPYdf does not represent a yen-denominated monetary claim or a right to redemption in yen. Tracking the yen, price stability, redemption in yen, and preservation of principal are not guaranteed
Methodology
TVL: Underlying assets in the production CollateralVault buffers, excluding protected backstop reserves, plus the underlying value of each registered Strategy position, including accrued yield. Counts deposits whether or not used in a Trove, and assets pending withdrawal until paid out. JPYdf, dToken balances, debt, external LP positions and Treasury balances are not added. Assets deployed to Lido, Aave V3 and Morpho overlap those protocols.View code on GitHubCompetitors
Frequently asked questions
What is JPY DeFi's TVL?
JPY DeFi currently has $831,712 in total value locked.
What chains does JPY DeFi operate on?
JPY DeFi operates on Ethereum. Ethereum holds the largest share at 100%.
How does JPY DeFi's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, JPY DeFi ranks #42 by TVL. The category holds $7.851b across 199 protocols, and JPY DeFi accounts for <0.1% of that total. Other leading protocols include Sky Lending, USDD, Liquity V1, crvUSD, Liquity V2, Reservoir Protocol, Frankencoin, Inverse Finance FiRM, BIMA CDP, and Inverse Finance Frontier.