JPY DeFi launches yen stablecoin JPYdf with crypto-collateralized loans on Ethereum

• —JPYdf targets a 1:1 peg to the yen and is minted against wstETH and USDC collateral
• —Each collateral type has a separate market with its own ratios and liquidation terms
• —Loans are overcollateralized: a 1 million yen deposit supports up to 500,000 JPYdf in debt
• —A redemption mechanism lets users swap JPYdf for collateral tokens to defend the peg