The jZAR stablecoin is a highly liquid synthetic South African Rand that can be swapped at the market rate with other cryptos on the BNB Chain network. Its price is maintained via a peg mechanism with the USDC. It is created on Synthereum, the DeFi Forex protocol by Jarvis Network.
Sell jZARThe jZAR 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 South African Rand 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 jZAR directly benefits from its vast liquidity and deep integration within the ecosystem. The jZAR can therefore be used for any type of volatility-free payment or trading operations on the Ethereum and Polygon networks.
The jZAR 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 jZAR. The liquidity provider receives in reward 50% of trading fees generated on Jarvis, as well as UMA tokens.
Bridge Wallet lets you buy jZAR 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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