JPY DeFi

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