jFIATs are synthetic stablecoins tracking the price of real-world currencies.
ExamplejEUR tracks the price of the Euro quoted in another asset (USD, ETH, etc.). More generally, jXYZ tracks the price of XYZ against another asset.
Floating exchange rate jFIATs are stablecoins tracking the price of currencies that are freely traded. These jFIATS are over-collateralized with approved collaterals.
ExampleThe Euro (EUR) or the Canadian Dollar (CAD).
Fixed exchange rate jFIATs are stablecoins tracking the price of currencies pegged to another one. These jFIATs are collateralized with the jFIATs tracking the price of the currency they are pegged to.
ExampleThe Franc CFA (XAF and XOF) or the Bulgarian Lev (BGN) are pegged to the EUR.