Prezzo Convertible JPY Token

1. High Collateral Factor. The protocol permits a minimum health rate of 130%, ensuring efficient use of collateral. 2. Absence of Accrued Interest. Users are subject solely to a one-time issuance fee upon generating CJPY. 3. Non-Forced Liquidation. No penalty for liquidation. Debt positions with health rates below 130% can be redeemed by any users via CJPY acquired from the market. 4. Redemption by protocol. Accrued CJPY fees on protocol can be used to redeem debt position under threshold. 5. Subrogation Mechanism. The protocol employs the accumulated CJPY fees to subrogate debt positions falling below the 100% health rate threshold. History of your project. January 2021. The DeFiGeek Community Japan embarked on the development of Yamato Protocol, a decentralized and non-custodial crypto overcollateralized stablecoin pegged to JPY. The community has functioned with an inclusive approach, welcoming all developers and contributors who are eager to take part in the enhancement of DeFi applications and tools that drive the advancement of Web3 technology. Milestones of Yamato Protocol. November 2021. The alpha testing phase commenced on the Rinkeby testnet. January 2022. The beta testing phase debuted on the Rinkeby testnet. May 2022. The second beta testing phase transpired on the Rinkeby testnet. June 2023. Su