jSEK Swedish Krona stablecoin logo

jSEK, the Swedish Krona stablecoin

The jSEK stablecoin is a highly liquid synthetic Swedish Krona that can be swapped at the market rate with other cryptos on the Polygon network. Its price is maintained via a peg mechanism with the USDC. It is created on Synthereum, the DeFi Forex protocol by Jarvis Network.

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What is the jSEK?

The jSEK 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 Swedish Krona 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.

What is it for?

By being linked to the USDC and redeemable with it, the jSEK directly benefits from its vast liquidity and deep integration within the ecosystem. The jSEK can therefore be used for any type of volatility-free payment or trading operations on the Ethereum and Polygon networks.

How is it created?

The jSEK 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 jSEK. The liquidity provider receives in reward 50% of trading fees generated on Jarvis, as well as UMA tokens.

Where can it be exchanged?

Bridge Wallet lets you buy jSEK by bank transfer, and withdraw it in 14 fiat currencies back on your bank account. More info here.

It can be freely exchanged on app.jarvis.exchange or on paraswap.io for other jFiats, USDC and other cryptos without any slippage, using Chainlink's price feeds.

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