BANK OF YAN TEAM · 論考 / 001 · 2026-09-08
¥EN → ¥AN. Same symbol. Different story.
A yen stablecoin is still yen. That’s where our question begins. YAN brings Japanese monetary history and internet culture together in a community token taking shape on HyperEVM.
THE NAME / 名前に込めたもの
One letter. Two connections.
YEN → YAN
Changing one letter opens a different story. YEN is the starting point: its history, its symbols and the question of what digitization changes about money.
A tribute to the builders
The name also carries a tribute to Jeff Yan and the builders of Hyperliquid—the ecosystem we’ve chosen to build on. YAN connects the history that inspires us with the place where our community takes shape.
An independent community project; not affiliated with or endorsed by Jeff Yan or Hyperliquid Labs.
01 · FACT / 事実
A digital yen is still denominated in yen.
Japan’s stablecoin framework took effect in June 2023. The FSA sets the financial regulatory framework; private issuers offer products. JPYC announced its yen stablecoin launch for 27 October 2025. This is distinct from the Bank of Japan’s CBDC work and the Digital Agency’s public-service design remit.
JPYC describes a 1:1 yen design backed by yen-denominated deposits and Japanese government bonds. That is not the same pool of assets as Japan’s official foreign-exchange reserves, and should not be described as US Treasury backing.
FSA · 2023 framework · JPYC · launch · JPYC · backing · BOJ · CBDC Forum
Yen
Japanese yen. Purchasing power and exchange rates change.
Yen stablecoin
Targets redemption at par in yen. A yen peg does not guarantee yen purchasing power.
YAN
No fixed redemption into yen. Market-priced and capable of substantial loss.
02 · THESIS / 私たちの主張
Better settlement does not rewrite the monetary unit.
Tokenization can make transfers and integrations better. It does not, by itself, remove the yen’s exposure to monetary policy, exchange rates or purchasing-power changes. Bank of Yan proposes a next chapter built on a fixed issuance rule, readable records and community participation. ¥EN → ¥AN expresses that direction; it is not a forecast of price or a government currency transition.
03 · STRUCTURE / 仕組み
Clear roles. Public records.
The Bank of Yan team separates deployment, treasury, public buy and team vesting across four published wallet addresses. Follow the funds and review the rules through the wallet register and economics page.
Team wallets
The team manages treasury spending. Treasury votes are advisory; the four addresses are not a multisig.
Liquidity custody
The design places P1 permanently in YANFeeRouter, with no withdrawal or upgrade function, and locks P2 for 365 days through UNCX. P2 depends on that external protocol and its collector settings.
Fee distribution
Collected YAN is split 70% to the staking reward fund and 30% to treasury; collected WHYPE goes to treasury. Collection requires a transaction. Team allocation is 5%, vesting over 365 days, with no recurring cash salary.
Pre-launch design; contracts have not been deployed and no independent external audit has been completed. Fixed supply does not guarantee demand, liquidity or returns.
Wallets, fund flows and economics →04 · VISION → PARTICIPATION / 理念から参加へ
A meme you can add a page to.
The fictional bank, seals, specimen notes and circulars are the shared language. They are not a government charter, legal tender or evidence that Japan has ended yen issuance. Community value has to be built through contributions; it is not created by promising price gains.
01 · Make the culture
Explore specimens. Publish your own clearly labeled unofficial art or translation; share its source and credit.
Explore →02 · Join the conversation
Read public channels and share ideas. Reading and posting do not require buying YAN or a paid listing.
Explore →03 · Turn ideas into proposals
Inspect voting rules and records. On-chain proposals and votes require the published stake conditions; treasury votes remain advisory.
Explore →