Unifi Inc

The circulation of the Japanese yen stablecoin JPYC has dropped below 2 billion JPYC, totaling 1,999,753,837 JPYC across four blockchains as of 15:00 on September 10. According to the on-chain data aggregator JPYC Info, this marks a decline of about 710 million JPYC, or roughly 26 percent, over 11 days from about 2.708 billion JPYC on August 30. From about 2.097 billion JPYC on September 6, it fell by a further roughly 99 million JPYC over four days, and while the pace of decline is slower than the previous week, the contraction in circulation continues. The decline is centered on circulation on Kaia, which dropped from about 1.78 billion JPYC on August 30 to about 1.158 billion JPYC on September 6 and about 1.037 billion JPYC on September 10, falling by about 121 million JPYC in the four days after September 6 alone. Coinciding with this movement is the end of a JPYC yield perk by the wallet service Unifi on Kaia. Unifi announced on its official X account that it would switch a limited-time perk of 5 percent annualized interest on JPYC deposits to a base rate of 2 percent annualized as of 9:00 a.m. on September 1, and some of the funds that had flowed in for the perk may have been withdrawn in response to the rate change.