# What is DePhaser?

Lock USDT and USDC for JPYT

***DePhaser** is a decentralized finance (DeFi) platform that revolutionizes digital transactions by introducing JPYT, a stablecoin pegged 1:1 to the Japanese Yen (¥). The platform enables users to lock in USDT (Optimism) or USDC (Base) and mint JPYT, offering seamless cross-border transactions and gas-free operations. DePhaser bridges the gap between traditional finance and Web3 by providing a stable and transparent asset that caters specifically to users with a preference for the Yen.*

## Official Links <a href="#the-rise-of-a-new-digital-era-introducing-dephaser" id="the-rise-of-a-new-digital-era-introducing-dephaser"></a>

* **Website:** <https://dephaser.com/>
* **Docs:** <https://docs.dephaser.com/>
* **Blog:** <https://medium.com/@DePhaser_JPYT/>
* **Twitter:** <https://x.com/DePhaser_JPYT>
* **Discord:** <https://discord.com/invite/vfbced9PjN>
* **Youtube:** <https://www.youtube.com/@DePhaser>
* **Github:** <https://github.com/0xDephaser>
* **JPYT Price Chart:** <https://www.geckoterminal.com/optimism/pools/0x4efc6d91b5170b670a1bd5cfb8d4ae50283400eb>
* **JPYT Contract Address**: [0xc47da4CB96CE65a96844A01Bfae509F9d5454534](https://optimistic.etherscan.io/token/0xc47da4cb96ce65a96844a01bfae509f9d5454534)

## The Rise of a New Digital Era: Introducing DePhaser <a href="#the-rise-of-a-new-digital-era-introducing-dephaser" id="the-rise-of-a-new-digital-era-introducing-dephaser"></a>

As the world continues its transition into the digital era, decentralized finance (DeFi) platforms are becoming increasingly integral to the global financial system.&#x20;

DePhaser stands at the forefront of this transformation by offering a unique solution that allows users to lock in **USDT or USDC** in exchange for JPYT, a stablecoin pegged 1:1 to the Japanese Yen (¥).&#x20;

This precise peg is maintained by a highly reliable external oracle, ensuring that the value of JPYT accurately reflects the real-world market rate of the Japanese Yen at all times.

{% embed url="<https://www.youtube.com/watch?v=zyS6RmGMfH4>" %}

Unlike some digital assets that are created without substantial backing, JPYT is fully collateralized by **USDT and USDC** deposits from users.&#x20;

This model ensures that each JPYT in circulation is transparently backed by stable and widely accepted cryptocurrencies—**USDT and USDC**.&#x20;

With the highest market capitalization among stablecoins, USDT and USDC enjoy a strong reputation for stability and are trusted by markets across the globe, making them the ideal assets to back JPYT.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FgTsxZyPvh76Mu6YzjPxP%2FJPYT-on-dephaser-img.webp?alt=media&amp;token=b7b9c501-539c-4588-8e06-83d41cb77bb9" alt="" width="563"><figcaption></figcaption></figure>

## The Motivation Behind DePhaser <a href="#the-motivation-behind-dephaser" id="the-motivation-behind-dephaser"></a>

Japan has always been a unique market due to its strong cultural ties to its national currency, the Yen (¥).

The Japanese population, by and large, prefers using Yen in their daily transactions, even when faced with global currencies like the U.S. Dollar or Euro.

This deep-rooted preference for the Yen has created a gap in the Japanese market for a stablecoin that is properly pegged to their national currency, with full transparency and verifiable backing on the blockchain.

Despite the proliferation of stablecoins in the global DeFi ecosystem, a reliable Yen-pegged stablecoin with transparent, on-chain proof of reserves has been conspicuously absent.

This lack has proven to be a significant roadblock for Japan's integration into the world of decentralized finance and blockchain technology, slowing the pace of Web3 adoption across the country.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FhXCuDY7qhPs7ZdcNONbQ%2Fdephaser%20image.webp?alt=media&amp;token=9558636e-0ca1-4f4d-9cf3-0bd4d5e19f37" alt="" width="563"><figcaption></figcaption></figure>

Recognizing this gap, the DePhaser team set out to build a platform that would cater to the specific needs of the Japanese market.

By allowing users to lock in **USDT or USDC** and mint JPYT, they have created a stablecoin that accurately reflects the value of the Yen while maintaining full on-chain transparency.

With JPYT, users can now trust that the stablecoin is backed by **USDT and USDC** reserves, creating confidence in its stability and usability within the Japanese ecosystem.

## The Power of a Yen-Pegged Stablecoin <a href="#the-power-of-a-yen-pegged-stablecoin" id="the-power-of-a-yen-pegged-stablecoin"></a>

The introduction of JPYT is a game-changer for Web3 adoption within Japan. As a stablecoin pegged to the Yen (¥), JPYT acts as a bridge between traditional finance and the new, decentralized digital economy.

Japanese consumers and businesses alike can now seamlessly integrate JPYT into their daily operations, whether it's used to purchase services, trade goods, or even engage with NFTs, including ERC-1155 token standards.

The ability to transact in Yen-backed JPYT opens new opportunities for businesses and individuals, breaking down the barriers that previously hindered their entry into the decentralized finance space.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FZa2AE6MrpWNnr7niwVTL%2Fyen-and-JPYT.webp?alt=media&amp;token=c6980227-da53-4f01-9798-455294468f5f" alt="" width="563"><figcaption></figcaption></figure>

JPYT facilitates instant transactions on decentralized exchanges (DEXs), where users can easily convert it into other digital assets as needed, all while avoiding intermediaries and reducing transaction costs.

For consumers, the process is simple and efficient—users can log in with a Web3 wallet and use JPYT for purchases.

On the flip side, merchants can immediately convert JPYT to other assets or retain it for future use.

This streamlined process not only enhances the user experience but also significantly reduces operational costs for businesses by cutting out middlemen and minimizing fees associated with currency conversion or other payment intermediaries.

## DePhaser’s Role in Shaping the Future of Digital Finance <a href="#dephasers-role-in-shaping-the-future-of-digital-finance" id="dephasers-role-in-shaping-the-future-of-digital-finance"></a>

By introducing a Yen-backed stablecoin, DePhaser is playing a critical role in accelerating the adoption of decentralized finance in Japan.\
\
The platform not only offers a stable, transparent asset for individuals and businesses to transact in but also fosters a deeper connection between the traditional economy and the burgeoning world of Web3.\
\
With the ability to lock in **USDT or USDC** and mint JPYT, Japanese users now have access to a stablecoin that reflects their currency of choice while providing the flexibility and benefits of decentralized finance.\
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DePhaser represents a monumental step forward in the adoption of blockchain and digital finance within Japan.\
\
By bridging the gap between local currency preferences and global digital assets, DePhaser is empowering Japanese businesses and consumers to engage with the digital economy on their own terms, unlocking a new era of financial innovation.


# What is JPYT?

Understanding the Yen-Pegged Stablecoin

## A Stablecoin Pegged to the Yen <a href="#a-stablecoin-pegged-to-the-yen" id="a-stablecoin-pegged-to-the-yen"></a>

JPYT is a stablecoin that mirrors the value of the Japanese Yen, offering a 1:1 peg with full transparency and trust.

This peg is achieved through advanced mechanisms, including the use of external oracles, which constantly track the exchange rate between the Yen and other currencies.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2F4ak213Q7XS3ULL5H54ML%2FJPYT%20on%20the%20rise.webp?alt=media&amp;token=0207e8fa-b835-4be0-be65-86617acc8160" alt=""><figcaption></figcaption></figure>

As a result, JPYT provides users with a reliable and stable digital asset that maintains its value against the Yen, making it ideal for those who prefer to transact in their local currency while exploring the benefits of blockchain technology.

Unlike volatile cryptocurrencies, JPYT ensures that users are shielded from extreme price fluctuations, making it a practical option for everyday transactions, savings, and even cross-border remittances.

Whether it's for consumers or businesses, JPYT serves as a bridge between the traditional Yen and the decentralized finance ecosystem, allowing seamless integration into the global market.

## JPYT on Optimism: Faster and Cost-Effective Transactions

JPYT is deployed on the **Optimism** network, a Layer 2 scaling solution for Ethereum that significantly improves transaction speed and reduces gas fees.&#x20;

By utilizing Optimism’s innovative **optimistic rollup technology**, JPYT transactions are processed off-chain with high efficiency while still leveraging the security of the Ethereum mainnet.&#x20;

This integration allows JPYT users to enjoy faster and more cost-effective transactions, ensuring that the stablecoin remains both practical and accessible.&#x20;

With Optimism, JPYT can offer a seamless user experience while maintaining the benefits of decentralization and security that are fundamental to blockchain technology.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FhArtrxuV9aoKXq2mGfgo%2FOP-Network.webp?alt=media&amp;token=9d837829-41a1-4d3d-a4ec-6361d0d7c63a" alt=""><figcaption></figcaption></figure>

## JPYT on Base: Ultra-Low Fees and Lightning-Fast Transactions&#x20;

JPYT is now live on Base, an Ethereum Layer 2 built on the OP Stack and backed by Coinbase. Base combines the scalability of rollup technology with the reliability of Ethereum, delivering ultra-low transaction fees and near-instant finality.

By choosing Base, JPYT taps into a rapidly growing ecosystem that benefits from Coinbase’s reach and infrastructure, making it easier for both developers and everyday users to adopt.&#x20;

With its focus on security, scalability, and seamless integration with the broader Ethereum and Coinbase networks, Base ensures that JPYT remains not only efficient but also widely accessible.

This expansion strengthens JPYT’s mission: to provide a stable, cost-effective, and future-ready digital yen for everyone.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FhAca2QfswQrL3uieOfc4%2FChatGPT%20Image%20Sep%2011%2C%202025%2C%2003_23_28%20PM.png?alt=media&amp;token=e01161cd-6370-447a-91c6-2a602043cce0" alt=""><figcaption></figcaption></figure>

## Expanding Business Opportunities for the Japanese Community <a href="#expanding-business-opportunities-for-the-japanese-community" id="expanding-business-opportunities-for-the-japanese-community"></a>

JPYT offers significant advantages for Japanese businesses and consumers looking to enter the digital economy.

As a Yen-backed stablecoin, it provides a familiar and stable medium of exchange, facilitating transactions without the complexity of fluctuating exchange rates or the need for costly intermediaries.

For businesses, JPYT can be used as a payment option for goods and services, allowing seamless integration with digital payment systems and decentralized applications (dApps).

This capability opens up new avenues for cross-border trade, enabling Japanese businesses to engage with international markets without being exposed to the risks of currency fluctuations.

At the same time, Japanese consumers can enjoy the benefits of using a stablecoin in their day-to-day purchases, providing a secure and efficient alternative to traditional payment methods.

By reducing transaction costs and removing barriers to entry, JPYT empowers the Japanese community to expand their business operations both locally and globally, all while maintaining the stability and familiarity of the Yen.

## Backed by Locked-In USDT and USDC <a href="#backed-by-locked-in-usdt" id="backed-by-locked-in-usdt"></a>

One of the key factors that differentiate JPYT from other stablecoins is its collateralization by **USDT and USDC**, two of the world’s most widely accepted and trusted stablecoins.\
\
JPYT is not minted out of thin air but is fully backed by **USDT and USDC** locked into the DePhaser platform by its users. This ensures that every JPYT in circulation is backed by stable and transparent reserves, providing confidence to users in the stability of the coin.\
\
The choice to back JPYT with **USDT and USDC** is strategic, as together they hold the highest market capitalization among stablecoins and enjoy widespread use in the global market.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FQLcIxzxeocsywbJDKPwT%2FUSDT%20Tether.webp?alt=media&amp;token=1a88b4a3-6f66-44ef-aea0-9a9d7e80875d" alt=""><figcaption></figcaption></figure>

This allows JPYT to inherit the stability and trustworthiness of **USDT and USDC** while offering a currency specifically tailored to the Japanese market.&#x20;

With a robust backing of **USDT and USDC**, users can rest assured that JPYT maintains its value at a 1:1 ratio with the Japanese Yen, providing the confidence needed for both businesses and consumers to use JPYT in their financial transactions.

## Secured by AAVE Smart Contract Technology <a href="#secured-by-aave-smart-contract-technology" id="secured-by-aave-smart-contract-technology"></a>

Security is a critical concern in the world of decentralized finance, and JPYT addresses this with cutting-edge technology.\
\
JPYT is secured by AAVE’s smart contract infrastructure, ensuring that all transactions and reserves are handled in a decentralized, transparent, and secure manner.\
\
AAVE, one of the most respected and widely used DeFi protocols, provides a reliable framework for lending and borrowing digital assets.\
\
By leveraging AAVE’s smart contracts, DePhaser ensures that all **USDT and USDC** locked to mint JPYT are safely held and managed, with users able to verify the status of their collateral at any time.\
\
This system offers a high level of security, as AAVE’s contracts have been thoroughly audited and battle-tested, minimizing the risk of vulnerabilities or breaches.\
\
By securing JPYT with AAVE’s smart contracts, DePhaser provides users with peace of mind, knowing that their assets are protected by one of the most trusted names in DeFi.&#x20;

## Listed on Coingecko

August 2025 marks a major milestone for JPYT. After months of consistent growth and strong trading activity, JPYT is now officially listed on **CoinGecko** — one of the world’s most trusted platforms for tracking crypto assets.&#x20;

This listing not only validates our progress but also sets the stage for even greater visibility and adoption ahead.


# Why JPYT?

The Future of Yen-Backed Digital Currency

## **A Stable and Trusted Medium of Exchange** <a href="#a-stable-and-trusted-medium-of-exchange" id="a-stable-and-trusted-medium-of-exchange"></a>

One of the primary reasons to use JPYT is its stability. Unlike many cryptocurrencies that can experience extreme volatility, JPYT is pegged 1:1 to the Japanese Yen, ensuring that its value remains consistent.

This makes it an ideal currency for everyday transactions, savings, and remittances.

Whether you’re buying goods, paying for services, or transferring money, JPYT ensures that the value you send or receive remains stable, protecting you from the fluctuations that often plague other digital assets.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2F2qqsHwohma8PTl3phSvG%2Fuse%20JPYT.webp?alt=media&amp;token=f562deec-0872-41c0-9b33-f3d13e47bb57" alt=""><figcaption></figcaption></figure>

In addition to stability, the use of JPYT is backed by on-chain proof, providing complete transparency in its issuance and value.

Users can trust that the value of JPYT accurately mirrors the Yen, making it a reliable tool for digital transactions.

## **Unlocking New Opportunities for Global Trade** <a href="#unlocking-new-opportunities-for-global-trade" id="unlocking-new-opportunities-for-global-trade"></a>

JPYT opens the door to global trade and digital commerce in ways that traditional currencies can’t.

For Japanese businesses, accepting payments in JPYT allows them to seamlessly integrate into the decentralized finance ecosystem while avoiding costly currency conversions.

With JPYT, companies can engage in cross-border trade, tapping into new markets and customers worldwide, all while using a stable, familiar currency.

Similarly, for international businesses looking to engage with the Japanese market, JPYT offers a direct route to doing business in Yen without the complexities of traditional banking and foreign exchange systems.

By using JPYT, businesses can operate more efficiently, cutting costs, and streamlining operations across borders.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FHxEUXDWPwKo738CrYrK6%2FYPYT%20payment.webp?alt=media&amp;token=60329751-9a8c-47ab-a98e-f92120faa5d0" alt=""><figcaption></figcaption></figure>

## **Secure and Transparent Transactions Backed by USDT and USDC** <a href="#secure-and-transparent-transactions-backed-by-usdt" id="secure-and-transparent-transactions-backed-by-usdt"></a>

Security and transparency are at the core of JPYT’s value proposition. Every JPYT in circulation is fully backed by **USDT and USDC**, the world’s most trusted and widely used stablecoins.\
\
This ensures that each JPYT is not only stable but also backed by real assets, giving users the confidence they need to engage in digital transactions.\
\
Additionally, JPYT operates on a decentralized platform, where every transaction is recorded on the blockchain. This transparency eliminates the need for intermediaries, providing users with a direct, secure, and tamper-proof way to engage with their funds.

## **An Efficient Gateway to Web3 for Japanese Users** <a href="#an-efficient-gateway-to-web3-for-japanese-users" id="an-efficient-gateway-to-web3-for-japanese-users"></a>

JPYT serves as a critical bridge for Japanese users entering the Web3 space.

With its Yen peg, JPYT allows individuals and businesses to participate in the decentralized finance world without leaving behind their trusted national currency.

This familiarity simplifies the transition to Web3, making it easier for users to access decentralized applications (dApps), decentralized exchanges (DEXs), and other digital services.

In Web3, JPYT can be used to purchase goods and services, trade NFTs, or invest in various DeFi projects, all while keeping the value tied to the Yen.

By using JPYT, users avoid the complexity of fluctuating foreign currencies and can enjoy the full benefits of decentralized finance in a way that feels natural and accessible.


# Audit

Reviewed and verified by experts

Find our audit report by Solid Proof below.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FA4D6BclJByhdaRuVMFIl%2Fsolid%20proof%20logo.png?alt=media&amp;token=b9881f82-37fb-40c5-b9b7-3515fe70acba" alt="" width="375"><figcaption></figcaption></figure>

## Optimism

{% embed url="<https://github.com/0xDephaser/contracts/blob/main/audits/SmartContract_Audit_Solidproof_Dephaser.pdf>" %}

## Base

{% embed url="<https://github.com/solidproof/Projects/blob/main/2025/Dephaser/SmartContract_Audit_Solidproof_Dephaser.pdf>" %}


# Reliable Yen Stablecoin

A Stable and Transparent System

## **Real-Time Conversion Rate Based on Market Data**

The process begins when a user decides to lock in USDT or USDC in exchange for JPYT. DePhaser utilizes a trusted external oracle to provide the real-time market value of the Japanese Yen at the time of the transaction.&#x20;

This oracle pulls data directly from financial markets, ensuring that the exchange rate used for minting JPYT accurately reflects the current value of the Yen.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2Fta05smjTORDQz3ycckqj%2Foracle-data.webp?alt=media&amp;token=8a62e40a-9e5b-486b-827e-2d1fa67f9533" alt=""><figcaption></figcaption></figure>

This system guarantees that the conversion rate between USDT or USDC and JPYT is transparent and based on current market conditions.&#x20;

By offering users a fair and real-time conversion rate, the platform ensures that the amount of JPYT they receive mirrors the Yen’s value at that specific moment, offering precision and reliability in the minting process.

## **Dynamic Lock-In Exchange Rate for Flexibility**

Unlike the previous fixed-rate mechanism, the new system operates with a dynamic Lock-In Exchange Rate. This rate is recognized in DePhaser’s system as the average exchange rate across all users' locked-in positions.&#x20;

While users still mint JPYT based on the real-time market rate at the time of their lock-in, the rate used when they return JPYT to unlock USDT or USDC is recalculated at the time of withdrawal.&#x20;

This dynamic model ensures flexibility and reflects the average exchange rate across the platform, accounting for shifts in the broader market.&#x20;

Users are no longer bound to the initial rate at which they minted JPYT. Instead, their position will be recalculated when they decide to redeem their USDT or USDC, providing a more fluid and up-to-date mechanism.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FzUIWObLs3qNPY7qWNTfM%2Fwoman%20holds%20JPYT%20coin.webp?alt=media&amp;token=6a0c4910-034c-49d0-a637-83de8b577f3a" alt=""><figcaption></figcaption></figure>

## **Recalculated Redemption Process**

With this new approach, users may not always receive back the exact amount of USDT or USDC they originally locked in. When returning JPYT to unlock USDT or USDC, the system recalculates the exchange rate using the average Lock-In Exchange Rate across all available locked-in positions.&#x20;

This ensures that users interact with the most accurate and current data, providing a fair and transparent transaction.&#x20;

Although users might not retrieve their initial USDT or USDC amount exactly, they are assured that the redemption process reflects real-time market conditions, offering an updated and balanced experience when reclaiming their assets.

## **Minimizing Market Risk for Users**

The new dynamic rate mechanism also helps minimize market risk for long-term holders. By averaging the exchange rate across all locked-in positions, the system spreads the impact of market fluctuations, ensuring that no single position is overly exposed to volatility.&#x20;

This creates a more balanced environment where users benefit from a system that reflects the collective market conditions over time.

This flexibility and dynamic nature of the Lock-In Exchange Rate make JPYT an attractive option for users looking for a stablecoin that adapts to market conditions while maintaining transparency and fairness.&#x20;

Whether users are holding JPYT for short-term transactions or long-term savings, they can be confident in the system's ability to adjust to real-world changes in the Yen’s value.


# Money Flow

Explain The Money Flow

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FU3V6ukHI5UoV7vBrnzsi%2Fhow-it-work-gif-small-quicker.gif?alt=media&amp;token=c3413bdd-af17-4eca-a712-243e1d8545af" alt=""><figcaption></figcaption></figure>

## **A Secure and Efficient System for Stablecoin Transactions**

At DePhaser, the security and efficiency of our platform are paramount. Our system is fully automated and operates through smart contracts to ensure seamless and secure distribution of funds.&#x20;

DePhaser never directly holds user funds; instead, all USDT or USDC deposits are automatically transferred to AAVE smart contracts for storage, ensuring the highest levels of security and transparency.&#x20;

The process begins when users lock in their USDT or USDC on our platform.&#x20;

Before initiating the transaction, DePhaser requests the real-time exchange rate of USD to JPY from Chainlink oracle, ensuring that the displayed rate reflects the current market value.&#x20;

This rate is transparently shown on the front-end interface, allowing users to review and confirm the rate before proceeding.&#x20;

Once users confirm the transaction, the DePhaser smart contract collects the specified amount of USDT or USDC and mints an equivalent amount of JPYT, a stablecoin pegged 1:1 to the Japanese Yen.&#x20;

The minting process is efficient, and users typically receive their newly minted JPYT within minutes. As the minting process occurs, the locked-in USDT or USDC is immediately transferred to AAVE’s secure smart contracts, ensuring that the funds are safely stored in a decentralized and transparent system.

## JPYT Burn Mechanism

When users decide to redeem their USDT or USDC, the DePhaser system follows a transparent and automated process. Upon redemption, the system burns the equivalent amount of JPYT that the user returns.&#x20;

Unlike traditional systems, users will redeem USDT or USDC at the Lock-In Exchange Rate, which is determined by the average market rate across all active locked-in positions, rather than the exact rate at the time of the initial lock-in.&#x20;

This recalculation ensures that users interact with a fair and updated exchange rate that reflects the broader market conditions, rather than being fixed at the initial transaction.&#x20;

This mechanism not only ensures the stability of the system but also guarantees that all JPYT in circulation is transparently backed by USDT or USDC stored in AAVE’s smart contracts.&#x20;

The burning process ensures that the supply of JPYT remains balanced with the underlying collateral, further enhancing the transparency and reliability of the platform.

{% content-ref url="/pages/RN2nu74Uh9XQDf8wfuEB" %}
[Redeem USDT/USDC](/operation/redeem-usdt-usdc)
{% endcontent-ref %}

## A Comprehensive and Advantageous Process

### Secure Lock-In of USDT or USDC

One of the primary advantages of the DePhaser platform is the security it offers in locking in USDT or USDC.&#x20;

By utilizing smart contracts, DePhaser ensures that all user funds are immediately and automatically transferred to AAVE’s decentralized storage system, eliminating any risk of fund mismanagement or loss. This ensures that users' USDT or USDC is stored in a highly secure, decentralized environment where only they can access it upon redemption.&#x20;

Moreover, by removing intermediaries from the process, DePhaser minimizes the risk of human error and fraud, ensuring that transactions are executed in a fully automated and tamper-proof manner.&#x20;

Users can engage with the platform confidently, knowing that their assets are safely stored and protected.

### Ensuring Value Backed by USDT or USDC

Every JPYT minted on the platform is fully collateralized by USDT or USDC held in AAVE’s smart contracts.&#x20;

This direct link between the JPYT in circulation and the locked-in USDT or USDC ensures that each JPYT maintains its value at a 1:1 ratio with the Japanese Yen.&#x20;

Unlike other systems where assets may be over-leveraged or under-collateralized, DePhaser maintains a transparent and verifiable system where the value of JPYT is always backed by real assets.&#x20;

Users can verify the collateral backing of their stablecoins on-chain, providing a level of trust and transparency that sets DePhaser apart from many other platforms in the decentralized finance (DeFi) ecosystem.

### Transparent and Reliable Operations

Transparency is at the heart of DePhaser’s operations. From the initial lock-in of USDT or USDC to the minting of JPYT and the final redemption process, every step of the transaction is recorded on the blockchain, ensuring full visibility for users.&#x20;

The use of real-time market data, provided by a trusted external oracle, ensures that exchange rates are fair and accurate.&#x20;

By leveraging AAVE’s secure smart contracts, DePhaser ensures that all transactions are reliably executed without the need for manual intervention.&#x20;

The automated nature of the system reduces the potential for delays or errors, making DePhaser a highly efficient and reliable platform for stablecoin transactions.&#x20;

Users benefit from a fully decentralized and transparent process, where they can track their locked-in assets, verify exchange rates, and redeem their funds with confidence, knowing that every step of the transaction is securely recorded and auditable.


# Security

Protecting Users and Assets

## Smart Contract Automation

At the heart of DePhaser's security architecture is its use of **smart contracts**, which automate the entire process of minting and redeeming JPYT.&#x20;

Smart contracts ensure that the platform operates without the need for manual intervention, reducing the risk of human error and vulnerabilities that could be exploited by bad actors.

All USDT and USDC lock-ins, JPYT minting, and fund transfers are handled through decentralized, self-executing smart contracts.&#x20;

This not only streamlines operations but also guarantees that transactions are executed exactly as coded, with no possibility of manipulation or fraud.&#x20;

The transparency of these smart contracts means that anyone can inspect the code, further reinforcing trust in the system’s reliability.

## Secure USDT and USDC Storage via AAVE Protocol

One of the key security measures of DePhaser is that **DePhaser itself does not hold or store user funds**. Instead, all USDT and USDC that users lock into the platform is immediately and automatically transferred to AAVE, a leading decentralized lending protocol.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FHtWwOcyd0EF2YnxSF2Is%2Faave%20system.webp?alt=media&amp;token=c5003e3d-b687-459a-81c6-95cc3f04181f" alt=""><figcaption></figcaption></figure>

AAVE is a highly secure, battle-tested protocol known for its rigorous security standards. It employs its own set of advanced security features, including:

* **Decentralized storage of assets**, meaning funds are not held by a single entity or vulnerable to centralized failures.
* **Audited smart contracts**, which ensure that funds are handled securely and transactions are executed as intended.
* **Insurance pools and safety mechanisms** that help protect against unforeseen events or platform vulnerabilities.

By leveraging AAVE’s trusted infrastructure, DePhaser ensures that users’ USDT or USDC is stored in a highly secure and decentralized environment, further minimizing risk.

## Real-Time Exchange Rate Integrity

DePhaser integrates a trusted external oracle to provide real-time market data for the exchange rate between USDT or USDC and the Japanese Yen.

This ensures that every minting session of JPYT is based on the most up-to-date and accurate market information, making the platform both secure and transparent.

The use of an external oracle mitigates the risk of price manipulation or discrepancies in exchange rates.&#x20;

Oracles serve as a bridge between blockchain-based smart contracts and off-chain data, providing accurate and tamper-proof price feeds. This ensures that users can trust the conversion rates shown at the time of their transaction.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2Fv5netK4vvhZInH9hvEDv%2FDePhaser.webp?alt=media&amp;token=4e2852ce-f568-4b35-a10a-07bac6e878b6" alt=""><figcaption></figcaption></figure>

## Immutable and Transparent Blockchain Transactions

Every transaction conducted on DePhaser, from the locking of USDT or USDC to the minting of JPYT and the burning of JPYT during redemption, is recorded on the blockchain.

Blockchain technology provides an immutable, tamper-proof ledger that tracks every action on the platform, ensuring full transparency and accountability.

Because these transactions are stored on a decentralized ledger, they are:

* **Immutable**: Once recorded, they cannot be altered or deleted.
* **Auditable**: Anyone can view the transaction history on the blockchain, making the process fully transparent.
* **Secure**: Transactions on the blockchain are protected by cryptographic methods, making them resistant to hacking and fraud.

This transparency helps build trust in the platform, as users can verify all transactions independently.

## **Decentralized Architecture and Non-Custodial Nature**

DePhaser operates as a non-custodial platform, meaning that it never directly holds user assets. Once users lock in USDT or USDC, those funds are immediately transferred to AAVE's decentralized storage.

DePhaser functions as a "middle hub," facilitating the minting and burning of JPYT through smart contracts, but without ever controlling or having access to user funds.

This decentralized architecture eliminates single points of failure, ensuring that:

* **No centralized entity** can seize or compromise user funds.
* **The system operates autonomously**, following predefined smart contract rules that cannot be altered or interfered with by any individual or organization.

In this non-custodial environment, users retain full control over their assets, further enhancing the security and trustworthiness of the platform.


# DEX

Reay Liquidity For JPYT

## **Enhancing Liquidity and Security with Uniswap Pool Integration**

As part of its ongoing commitment to improving user experience and ensuring liquidity for JPYT, the DePhaser team is implementing a liquidity pool on Uniswap.&#x20;

This pool will allow users to swap directly between USDT or USDC and JPYT, providing a seamless and efficient way to manage their stablecoin holdings.&#x20;

By offering a readily available liquidity pool on one of the most trusted decentralized exchanges, DePhaser is creating a robust and flexible trading environment for users of the JPYT stablecoin.&#x20;

The liquidity pool will be actively maintained and balanced by DePhaser’s market-making mechanisms. This means that DePhaser will ensure that the pool is sufficiently funded with both USDT or USDC and JPYT, enabling smooth swaps for users without experiencing slippage or lack of liquidity.&#x20;

This initiative is designed to enhance the overall utility of JPYT and ensure that users can easily and efficiently trade between USDT or USDC and JPYT on demand.&#x20;

By integrating with Uniswap, DePhaser not only expands the accessibility of JPYT but also strengthens its position as a secure, reliable stablecoin pegged to the Japanese Yen, giving users greater flexibility and convenience when managing their assets.

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2F5cx7JoBiPhsttQY2uIc0%2FJPYT%20on%20Uniswap%20(1).webp?alt=media&amp;token=316b2d3d-087b-4191-aab4-7e9ab7cddf40" alt=""><figcaption></figcaption></figure>

## **A** Redemption Process for Security and Reliability

In addition to expanding liquidity options, DePhaser has refined the redemption process as part of its ongoing commitment to security. To protect the system from malicious activities, such as flash loan attacks and other forms of exploitation, the redemption of USDT or USDC after returning JPYT takes only a few minutes to complete.

The decision to include this short redemption period is driven by the need to safeguard both the system and its users. Flash loan attacks, which exploit instant liquidity in decentralized finance protocols, remain a potential risk. By introducing this brief delay, DePhaser provides a buffer that allows the system to quickly verify, assess, and mitigate any suspicious activity before funds are released.

During this short redemption window, DePhaser’s security mechanisms monitor transactions to ensure the process upholds strong standards of safety and reliability. This measure not only protects individual users but also supports the overall stability of the DePhaser ecosystem.

## **Balancing Liquidity and Security for the Best User Experience**

The combination of the Uniswap liquidity pool and the prolonged redemption process reflects DePhaser’s commitment to balancing convenience and security for its users.&#x20;

The Uniswap pool offers instant access to liquidity, allowing users to swap between USDT or USDC and JPYT without waiting for manual interventions or approval processes.

On the other hand, the extended redemption period ensures that the system remains secure and resilient, preventing malicious actors from exploiting vulnerabilities within the platform.

This approach is designed to serve the best interests of all users, ensuring that they have access to fast, efficient liquidity while benefiting from the enhanced security protocols that protect their assets.&#x20;

DePhaser team is dedicated to maintaining the integrity of the system and delivering a user experience that is not only seamless but also safe and secure.


# Get JPYT

Get Started with DePhaser

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FjdAw1wvLi2spXTH4mckb%2FHow-to-n%E1%BA%A1p2.gif?alt=media&amp;token=90b78315-70db-42e3-bd0b-71131bd8766d" alt=""><figcaption></figcaption></figure>

Acquiring JPYT is a straightforward process, requiring only a Web3 wallet such as MetaMask. Follow these simple steps to begin:

1. Visit **app.dephaser.com** and connect your wallet.
2. On the **USDT (Optimism) / USDC (Base) to JPYT** dashboard, enter the desired amount depending on your chain:
   * **USDT** if you are using **Optimism**
   * **USDC** if you are using **Base**
3. The real-time USD-JPY exchange rate, provided by Chainlink, will be displayed. Once confirmed, click **Approve**.
4. Click **Convert** to complete the process.
5. Your newly minted JPYT will be sent directly to your wallet.


# Redeem USDT/USDC

Redeem USDT/USDC and Burn JPYT

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2FgsTO1IK50WC4sreetr7K%2FHow-to-r%C3%BAt.gif?alt=media&amp;token=423217c6-b3fc-4329-acde-43b5c156edb0" alt=""><figcaption></figcaption></figure>

The process of redeeming USDT or USDC takes only a few minutes to complete. For further details, please refer to our DEX page.

Follow these steps to redeem your assets:

1. Visit **app.dephaser.com** and connect your wallet.
2. Navigate to the **JPYT Redemption** dashboard and enter the desired amount of JPYT.
3. Click **Permit JPYT** to authorize the transaction.
4. Select your preferred asset:
   * **USDT (Optimism)** if you are redeeming on the Optimism network.
   * **USDC (Base)** if you are redeeming on the Base network.
5. Click **Request Conversion**. The process takes only a few minutes, so check back shortly.
6. Once available, click **Convert** to finalize the process.
7. Your **USDT (on Optimism)** or **USDC (on Base)** will be sent directly to your wallet.


# DEPH Point

DePhaser’s Loyalty Reward System

<figure><img src="https://4141302797-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FnHjLaI81PJRbCSDHstZh%2Fuploads%2F4hoQqAkiO8cMgpvebfop%2FDEPH%20Point.png?alt=media&amp;token=b0421648-3dd6-4ccd-87f0-aceb4fbe27c3" alt=""><figcaption></figcaption></figure>

DEPH Points are a unique loyalty reward system designed by DePhaser to recognize and reward user engagement within the platform.&#x20;

Unlike traditional on-chain tokens, DEPH Points are an off-chain metric, meaning they are not tradable or transferable on blockchain networks. Instead, they serve as a direct reflection of a user's contributions and commitment to the DePhaser ecosystem.

## How to Earn DEPH Points

DEPH Points are accumulated based on several key activities:

1. **JPYT Holdings**: Users who maintain JPYT in their wallets are rewarded daily with DEPH Points. For <mark style="color:purple;">**every 10,000 JPYT held, users will earn 1 DEPH Point per day**</mark>. This encourages sustained participation and loyalty to the platform.
2. **Liquidity Pool Contributions (DEX/Uniswap)**: Users who contribute to liquidity pools on decentralized exchanges (DEX) like Uniswap are further rewarded. <mark style="color:green;">**For every 10,000 JPYT added to a pool, users will receive 3 DEPH Points per day**</mark>, providing additional incentives for those supporting DePhaser’s liquidity.

## Point Accumulation Timeline

Users will accumulate DEPH Points over a period of 12 months, allowing long-term supporters to benefit continuously from their involvement.&#x20;

Holding JPYT in your wallet or providing liquidity both offer daily rewards in the form of DEPH Points, giving you multiple ways to earn based on your level of commitment.

## The Future of DEPH Points

Although DEPH Points are not tradable or exchangeable on the blockchain, they play a vital role in recognizing user loyalty.

Future updates will reveal more ways to redeem or utilize DEPH Points, ensuring that dedicated users continue to benefit from their contributions to the DePhaser ecosystem. Stay tuned for exciting developments that will add even more value to your DEPH Points!

This system is part of DePhaser’s broader initiative to build a thriving, engaged community and reward those who actively support the platform’s growth.


# Privacy Policy

Privacy Policy for DePhaser and JPYT Users

Effective Date: September 12, 2024

## **Introduction**

Welcome to DePhaser. Your privacy is important to us, and this Privacy Policy explains how we collect, use, and protect your personal information when you use our platform, particularly in relation to the minting, usage, and redemption of JPYT, a stablecoin pegged to the Japanese Yen.

By using our services, you agree to the collection and use of information in accordance with this policy.

***

## **Information We Collect**

We collect different types of information to provide and improve our services. This includes:

### **Personal Information**

When you create an account or engage in transactions on our platform, we may collect the following:

* Wallet address or public keys associated with your account
* Transaction details including the amount of USDT or USDC locked in and JPYT minted

### **Usage Data**

We may also collect data on how our service is accessed and used. This may include:

* Device information, IP address, and browser type
* Usage data, such as pages visited, time spent on the site, and interactions with features

### **Cookies and Tracking**

We use cookies and other tracking technologies to track activity on our platform and store certain information. You can choose to disable cookies through your browser settings, but this may affect your experience with our services.

***

## **How We Use Your Information**

We use the collected information for the following purposes:

* **3.1 Service Provision:** To provide and maintain our services, including processing transactions, minting JPYT, and managing locked-in USDT or USDC.
* **3.2 Security:** To monitor and prevent potential fraudulent activity, ensuring the security of your account and transactions.
* **3.3 User Support:** To communicate with you, respond to inquiries, and provide updates or relevant information about your account.
* **3.4 Analytics:** To analyze how users interact with our platform in order to improve our services and enhance user experience.

***

## **Sharing Your Information**

We do not sell, trade, or rent your personal information to third parties. However, we may share your information in the following circumstances:

* **4.1 Legal Compliance:** If required by law or legal process, we may share your information to comply with legal obligations, such as court orders or regulatory requirements.
* **4.2 Service Providers:** We may share your data with trusted service providers who assist us in running the platform, but they are bound to maintain the confidentiality and security of your information.
* **4.3 Business Transfers:** In the event of a merger, acquisition, or asset sale, your information may be transferred as part of that transaction, subject to the same privacy protections outlined in this policy.

***

## **Data Security**

We prioritize the security of your personal information. We implement various security measures, including encryption and secure data storage, to protect your data from unauthorized access, disclosure, or destruction. However, please note that no method of electronic storage or transmission over the internet is 100% secure, and we cannot guarantee absolute security.

***

## **Your Rights and Choices**

Depending on your location, you may have certain rights regarding your personal information. These rights may include:

* **6.1 Access:** You have the right to request access to the personal data we hold about you.
* **6.2 Correction:** You may request that we correct or update any inaccuracies in your personal data.
* **6.3 Deletion:** You have the right to request the deletion of your personal information, subject to legal or regulatory obligations that may require its retention.
* **6.4 Opt-Out:** If you have subscribed to receive updates or communications, you can opt out at any time by following the unsubscribe instructions included in those communications.

***

## **Data Retention**

We will retain your personal information only for as long as necessary to provide our services or comply with legal obligations. Once your data is no longer needed, we will securely delete or anonymize it.

***

## **Children's Privacy**

Our services are not directed to individuals under the age of 18. We do not knowingly collect personal information from minors. If we become aware that we have inadvertently collected information from a child under the age of 18, we will take steps to delete such information.

***

## **Changes to This Privacy Policy**

We may update this Privacy Policy from time to time. Any changes will be posted on this page, and the effective date at the top will be updated accordingly. We encourage you to review this Privacy Policy periodically to stay informed about how we are protecting your information..


# Terms of Service

Terms of Service for DePhaser and JPYT Users

Effective Date: September 12, 2024

## **Introduction**

Welcome to DePhaser, a decentralized finance platform that enables users to mint JPYT, a stablecoin pegged 1:1 to the Japanese Yen, by locking in **USDT on Optimism or USDC on Base**.&#x20;

These Terms of Service ("Terms") govern your access to and use of our platform, services, and associated products (collectively, the “Services”).

By accessing or using DePhaser, you agree to comply with and be bound by these Terms. If you do not agree to these Terms, you should not use the Services.

***

## **Eligibility**

To use our Services, you must:

* Be at least 18 years old, or the age of majority in your jurisdiction.
* Have the legal authority to enter into a binding contract.
* Use a Web3 wallet that is compatible with our platform. By using DePhaser, you represent and warrant that you meet all eligibility requirements.

***

## **Services Overview**

DePhaser allows users to lock in **USDT on Optimism** or **USDC on Base** and mint JPYT, a stablecoin pegged to the Japanese Yen.\
The key features of the platform include:

* **Minting JPYT:** Users can lock in **USDT (Optimism)** or **USDC (Base)** and receive JPYT based on the real-time market value of the Yen, as provided by an external oracle.
* **Dynamic Lock-In Exchange Rate:** Users who return JPYT to unlock **USDT or USDC** will do so at an exchange rate calculated as the average across all locked-in positions, which may differ from the rate at the time of minting.
* **On-Chain Transparency:** All transactions are processed and recorded on the blockchain for full transparency.

***

## **User Responsibilities**

You agree to:

* Provide accurate and complete information when using the platform.
* Safeguard your Web3 wallet and private keys. We do not store your wallet credentials and cannot recover lost keys.
* Ensure that your use of the platform complies with all applicable laws and regulations.

You are responsible for all transactions conducted through your Web3 wallet, including any losses resulting from unauthorized access to your account or wallet.

***

## **Minting and Redemption of JPYT**

### **Minting JPYT**

To mint JPYT, you will lock in a certain amount of **USDT on Optimism** or **USDC on Base**, based on the real-time conversion rate provided by the external oracle. The amount of JPYT minted will be proportional to the current Yen market value.

### **Redeeming USDT/USDC**

When you decide to return JPYT and unlock your **USDT (on Optimism)** or **USDC (on Base)**, the exchange rate used will be recalculated at the time of redemption based on the average Lock-In Exchange Rate across all positions on the platform.\
This may result in receiving a different amount of USDT or USDC compared to the initial lock-in amount.

### **Transaction Fees**

You acknowledge that blockchain transactions may incur gas fees, which are determined by network congestion and paid by the user.

***

## **Prohibited Activities**

You agree not to:

* Use the platform for any unlawful activities, including money laundering, fraud, or financing of terrorism.
* Engage in any behavior that would disrupt the platform or harm other users.
* Attempt to exploit vulnerabilities in the system or manipulate the platform’s functionality.

We reserve the right to suspend or terminate your access to the Services if you engage in any prohibited activities or violate these Terms.

***

## **Risks**

By using the DePhaser platform, you acknowledge and accept the following risks:

* **Blockchain and Smart Contract Risks:** Transactions conducted on decentralized networks are irreversible. You are responsible for ensuring that your transactions are correct and secure.
* **Volatility Risks:** The market value of JPYT and other digital assets may fluctuate. While JPYT is pegged to the Japanese Yen, fluctuations in **USDT or USDC** and other market conditions may affect your holdings.
* **Regulatory Risks:** Digital assets and decentralized platforms may be subject to legal and regulatory scrutiny in different jurisdictions. You are responsible for complying with local laws.

***

## **Intellectual Property**

All intellectual property related to the DePhaser platform, including its name, logo, content, and code, is owned by DePhaser or its licensors. You may not use, copy, or modify any part of the platform without our prior written permission.

***

## **Limitation of Liability**

To the maximum extent permitted by law, DePhaser shall not be liable for:

* Any loss or damage arising from your use of the Services, including, but not limited to, loss of funds, unauthorized access to your account, or system errors.
* Any indirect, incidental, special, or consequential damages.

You agree to indemnify and hold DePhaser harmless from any claims arising from your use of the platform, violation of these Terms, or breach of any law or regulation.

***

## **Changes to the Terms**

We may update these Terms from time to time. When we do, we will notify users by updating the "Effective Date" at the top of this document and posting the updated Terms on our platform. It is your responsibility to review these Terms periodically.

Continued use of the platform after any changes constitutes your acceptance of the updated Terms.

***

## **Termination**

We may terminate or suspend your access to the Services at any time if we believe you have violated these Terms or engaged in illegal or harmful behavior. Upon termination, you will no longer have access to your account, but any outstanding obligations related to locked-in positions will remain enforceable.


# Disclaimer

Disclaimer for DePhaser and JPYT Users

## User Funds Disclaimer

DePhaser operates as a decentralized platform, and as such, we do not have control over or custody of users' funds.&#x20;

You are solely responsible for managing and securing your own digital assets, including the safekeeping of your Web3 wallet and private keys.&#x20;

DePhaser bears no responsibility for any loss, misplacement, or unauthorized access to your funds.

Please note that all transactions on our platform are final and irreversible.&#x20;

**We do not offer refunds under any circumstances**, and any risks associated with the use of our Services are borne solely by the user.

***

## **No Legal Obligation for Support or Compensation**

While we aim to provide the best possible support to our users, you acknowledge that DePhaser is not legally obligated to assist you with transaction issues, account recovery, or any other support requests.&#x20;

Our support services are provided on a **best-effort basis**, and we disclaim any legal responsibility for resolving user issues.

You agree that DePhaser will not be held liable for any loss, damages, or inability to access your funds, including, but not limited to, situations arising from technical errors, network issues, or security breaches.

***

## **No Responsibility for Illicit Activity**

DePhaser is a neutral platform that provides tools for decentralized finance transactions. We do not monitor or interfere with the activities of our users.&#x20;

**We expressly disclaim any involvement in, or responsibility for, illicit activities, including money laundering, fraud, or terrorist financing.**

By using our platform, you agree that you will comply with all applicable laws and regulations and not use our Services for any illegal or unethical activities.&#x20;

Any attempt to engage in such activities is strictly prohibited, and DePhaser will cooperate with relevant authorities as required by law.&#x20;

**You assume full responsibility for ensuring that your activities on the platform are lawful.**

***

## **No Warranties and Limitation of Liability**

DePhaser provides the platform "as is" without any warranties of any kind, whether express or implied. We do not guarantee the accuracy, reliability, or availability of the platform, and you use it at your own risk.

To the fullest extent permitted by law, DePhaser and its affiliates disclaim any liability for damages, losses, or harm resulting from your use of the platform, including, but not limited to:

* Loss of funds
* Loss of access to your account
* Unauthorized transactions
* Technical failures or delays
* Any indirect, incidental, or consequential damages

***

## **Acceptance of Risk**

By using DePhaser, you acknowledge and accept the inherent risks associated with decentralized finance, including the risk of loss or theft of your digital assets, volatility in asset values, and the potential for changes in the legal or regulatory environment.&#x20;

You understand that transactions involving digital assets, including JPYT, **USDT, or USDC**, are irreversible once processed.

***

## **Final Statement**

DePhaser is committed to maintaining a fair, transparent, and secure platform for users, but we emphasize that you use our Services at your own risk. By interacting with the DePhaser platform, you accept full responsibility for any actions taken and the outcomes thereof.&#x20;

We recommend that you carefully review all information before engaging in transactions and seek independent legal or financial advice if necessary.

If you do not agree with this disclaimer or our terms, you should discontinue use of the platform immediately.