On-chain data analysis of JPYC (Japan's yen-pegged stablecoin, launched October 27, 2025) using Dune Analytics. Data is automatically fetched weekly via GitHub Actions.
| Month | Chain | Issuance | Redemption | Circulating |
|---|---|---|---|---|
| 2026-02 | Avalanche | 1.58 | 0 | 1.58 |
| 2026-02 | Ethereum | 2.07 | 0 | 2.07 |
| 2026-02 | Polygon | 8.82 | 0 | 8.82 |
| 2026-01 | Avalanche | 1.49 | 0 | 1.49 |
| 2026-01 | Ethereum | 1.67 | 0 | 1.67 |
| 2026-01 | Polygon | 7.43 | 0 | 7.43 |
| 2025-12 | Avalanche | 1.22 | 0 | 1.22 |
| 2025-12 | Ethereum | 0.91 | 0 | 0.91 |
| 2025-12 | Polygon | 4.4 | 0 | 4.4 |
| 2025-11 | Avalanche | 0.72 | 0 | 0.72 |
| 2025-11 | Ethereum | 0.49 | 0 | 0.49 |
| 2025-11 | Polygon | 2.53 | 0 | 2.53 |
| 2025-10 | Avalanche | 0.25 | 0 | 0.25 |
| 2025-10 | Ethereum | 0.27 | 0 | 0.27 |
| 2025-10 | Polygon | 0.46 | 0 | 0.46 |
Global Total (2026-02): Issuance 12.46 B JPY / Redemption 0 B JPY / Circulating 12.46 B JPY
Latest date: 2026-02-12 / Total unique users: 124,805
Last updated: 2026-03-16T02:11:23Z
| Metric | Description |
|---|---|
| Issuance (Billion JPY) | Amount sent from JPYC corporate wallets to customers |
| Redemption (Billion JPY) | Amount returned from customers to JPYC corporate wallets |
| Circulating Supply (Billion JPY) | Issuance - Redemption |
| Unique Users | New user count per chain and globally (daily query) |
| Chains | Ethereum, Polygon, Avalanche |
- 2 queries: Monthly (8 CTEs) + Daily (19 CTEs)
- Multi-chain analysis across Ethereum, Polygon, and Avalanche
- Dynamic wallet detection - JPYC corporate wallets identified via Mint event recipients
- Mint/Burn exclusion - Mint (
from = 0x0) and Burn (to = 0x0) events filtered out to prevent misclassification - Internal transfer handling - Transfers between JPYC corporate wallets classified as
internaland excluded from metrics - Window functions (
SUM OVER,PARTITION BY) for cumulative calculations - Cross-chain user deduplication in daily query - same address on multiple chains counted once
Data is automatically fetched every Monday 09:00 JST via GitHub Actions using the Dune API.
GitHub Actions (cron) → Dune API (get_latest_result) → CSV + README update → git push
- Generate an API key at Dune Settings
- Add it as a repository secret:
gh secret set DUNE_API_KEY --body "your-key" - Push to enable the workflow (or trigger manually via Actions tab)
| File | Description |
|---|---|
| queries/jpyc_monthly.sql | Monthly aggregation query v1 |
| queries/jpyc_monthly_v2.sql | Monthly aggregation query v2 (current) |
| queries/jpyc_daily.sql | Daily aggregation query v1 |
| queries/jpyc_daily_v2.sql | Daily aggregation query v2 (current) |
| scripts/fetch_jpyc.py | Dune API fetch script |
| data/ | Auto-updated CSV data |
| docs/jpyc_analysis_blog.md | Detailed explanation (Japanese) |
- Monthly: https://dune.com/queries/6603840
- Daily: https://dune.com/queries/6593053
| Fix | Detail |
|---|---|
| Mint/Burn exclusion | Mint events (0x0 → JPYC wallet) were misclassified as redemption; Burn events as issuance. Fixed by filtering 0x0 address. |
| Internal transfers | Transfers where both from and to are JPYC wallets now classified as internal and excluded. |
| Activity filter | Monthly query activity filter aligned with daily query (all non-internal types). |
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