BRLm, issued by the Mento Protocol smart contracts under the governance of Mento tokenholders, is an algorithmic stablecoin that references the Brazilian Real and maintains its peg through an onchain collateral reserve held across a portfolio of digital assets.

Holders of BRLm hold a stablecoin that tracks the value of the Brazilian Real (BRL) on a one-to-one reference basis. The token derives its stability from the Mento Reserve, an onchain collateral pool comprising Bitcoin (BTC), Ether (ETH), Celo (CELO), Dai (DAI), USD Coin (USDC), the carbon credit token cMCO2, and other digital assets. Holders receive no yield or distribution; the token represents a unit of stable value referenced to BRL.

BRLm is issued by Mento Labs through the Mento Protocol and is not issued by a single corporate entity; its parameters and reserve are administered onchain under the governance of Mento tokenholders. The holder's claim is a stablecoin token whose value references the Brazilian Real and is collateralized by the Mento Reserve, an onchain portfolio of digital assets that backs outstanding tokens. The token may be minted and redeemed against reserve collateral through the protocol's onchain stabilization mechanism, which adjusts supply to hold the reference value of the Brazilian Real.

BRLm is issued onchain as a stablecoin token created and redeemed through the Mento Protocol's smart contracts. Minting and redemption occur against the onchain Mento Reserve, with supply adjusted algorithmically to hold the token's reference to the Brazilian Real. Settlement is onchain and reflects the reserve collateral backing each outstanding token.

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Stablecoins

Mento maintains the exchange mechanism on Celo that issues local-currency stablecoins (cUSD, cEUR, cBRL, cKES) backed by a diversified on-chain reserve, earning revenue through trading spreads on minting and redemption.

Mento Labs builds multi-currency stablecoin infrastructure for the Celo ecosystem, issuing cUSD, cEUR, cREAL, and cKES with a decentralized FX trading platform.

Mento Labs is a team of economists and engineers spun out of the core Celo development team, led by CEO Markus Franke.

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Stablecoin issuers

Mento Labs

Mento Brazilian Real (BRLm) is a Brazilian Real stablecoin issued by Mento Labs.

Holders can mint and redeem directly with Mento Labs.

BRLm has been issued on Celo as an ERC-20 token since December 2021.

Mento Brazilian RealBRLm

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