The jCAD stablecoin is a highly liquid synthetic Canadian dollar that can be swapped at the market rate with other cryptos on Ethereum, Polygon and BNB Chain. Its price is maintained via a peg mechanism with the USDC. It is created on Synthereum, the DeFi Forex protocol by Jarvis Network.Buy jCAD Sell jCAD
The jCAD is what is called a synthetic fiat currency, meaning that it is not anchored to an off-chain fiat reserve. Instead, it tracks the price of the Canadian dollar against the price of the US dollar via a peg mechanism with USDC, one of the biggest and most trusted USD stablecoin on the market.
By being linked to the USDC and redeemable with it, the jCAD directly benefits from its vast liquidity and deep integration within the ecosystem. The jCAD can therefore be used for any type of volatility-free payment or trading operations on the Ethereum and Polygon networks.
The jCAD is issued and can be exchanged on Synthereum, the on-chain Forex protocol developed by Jarvis Network.
It can be issued by a borrowing mechanism, where anyone can deposit USDC in the protocol and receive 75% of the deposit's value in jCAD. The liquidity provider receives in reward 50% of trading fees generated on Jarvis, as well as UMA tokens.
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