CGHS, issued by the Mento Protocol smart contracts under the governance of MENTO and veMENTO tokenholders, is a Ghanaian Cedi-pegged stablecoin that targets a value of one Ghanaian Cedi (GHS) per token through onchain collateral mechanisms [S1][S2][S3].

Each CGHS token tracks the Ghanaian Cedi (GHS) at a one-to-one peg and is a CDP-backed stable minted by locking U.S. dollar-pegged USDm collateral in a Liquity v2-style trove system, with the Reserve holding no collateral for it [S4][S3]. Holders receive no NAV accrual, coupon, or rebasing distribution; the token tracks the oracle FX rate rather than yielding income [S1][S4]. Every swap pays an LP fee plus a protocol fee, charged as the oracle rate minus the fee [S5][S2].

Mento positions itself as a decentralized protocol governed by MENTO tokenholders, with tokens minted and burned by protocol smart contracts rather than a single corporate issuer [S1][S2][S6]. The named legal entity is the Mento Protocol Foundation, a foundation company formed under the laws of the Cayman Islands [S7]. No financial-services license is claimed; on-domain references concern the Cayman Islands Data Protection Act (2021 Revision) [S7]. Participation is permissionless without disclosed holder-eligibility gates [S2]. Redemption is mechanical: anyone may burn the stable for USDm collateral, lowest-interest troves first, subject to a 0.5% redemption fee floor [S2][S5]. Protection is via over-collateralization and a publicly verifiable onchain Reserve [S4][S8].

CGHS is an ERC-20 token implemented via StableTokenV2/V3 proxies, deployed natively on Celo Mainnet (chainId 42220) and Monad Mainnet (chainId 143), with access from other chains via bridging into Celo [S3][S9]. CDP-backed stables are minted by locking USDm and redeemed by burning for USDm [S2][S3]. Pricing reads a Chainlink oracle rate via FPMM pools, with settlement onchain on Celo and FX pools gated outside market hours [S2][S10].

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://www.mento.org/" },
    { id: "S2", url: "https://docs.mento.org/mento-v3/llms-full.txt" },
    { id: "S3", url: "https://docs.mento.org/mento-v3/build/smart-contracts/stabletoken.md" },
    { id: "S4", url: "https://docs.mento.org/mento-v3/dive-deeper/the-reserve" },
    { id: "S5", url: "https://docs.mento.org/mento-v3/dive-deeper/protocol-economics.md" },
    { id: "S6", url: "https://docs.mento.org/mento-v3" },
    { id: "S7", url: "https://www.mento.org/privacy" },
    { id: "S8", url: "https://reserve.mento.org/" },
    { id: "S9", url: "https://docs.mento.org/mento-v3/build/smart-contracts/llms-full.txt" },
    { id: "S10", url: "https://docs.mento.org/mento-v3/sitemap.md" },
  ]}
/>


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Stablecoin issuers

Mento

Mento cGHS (CGHS) is a Ghanaian Cedi stablecoin issued by Mento.

Holders can mint and redeem directly with Mento.

CGHS has been issued on Celo as an ERC-20 token since February 2025.

Mento cGHSCGHS