COPm, issued by the Mento Protocol smart contracts under the governance of MENTO tokenholders, is a stablecoin that references the Colombian Peso (COP) and maintains its value through an algorithmic stabilization mechanism operated against an onchain reserve of digital assets.

A tokenholder receives a digital unit that tracks the value of one Colombian Peso (COP), the reference asset for this stablecoin. The peg is supported by the Mento Reserve, a portfolio of digital assets that according to the issuer product record comprises Bitcoin (BTC), Ether (ETH), Celo (CELO), Dai (DAI), USD Coin (USDC), the carbon credit token cMCO2, and additional digital assets. Stabilization is algorithmic, with reserve holdings backing the circulating COP value rather than a single fiat deposit.

COPm is not issued by a single corporate entity. Issuance and stabilization are administered by the Mento Protocol smart contracts under the governance of MENTO tokenholders, who direct reserve and parameter decisions through onchain governance. The holder claim is an onchain stablecoin balance redeemable against the Mento Reserve through the protocol mechanism rather than a contractual claim on a named legal issuer. The issuer product record identifies the reserve as the backing for outstanding units. Eligibility, primary minting access, redemption minimums, and any offering restrictions follow the protocol parameters set by tokenholder governance and the supported reserve assets named in the product record.

COPm is issued onchain as a fungible token on supported public networks and is created and removed through the Mento Protocol stabilization mechanism, which mints units against the Mento Reserve and removes them when value is returned to the reserve. Reserve assets are held onchain, allowing reserve composition and outstanding balances to be observed directly on the supported networks.

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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 Colombian Peso (COPm) is a Colombian Peso stablecoin issued by Mento Labs.

Holders can mint and redeem directly with Mento Labs.

COPm has been issued on Celo as an ERC-20 token since October 2024.

Mento Colombian PesoCOPm

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