EURm, issued by the Mento Protocol smart contracts under the governance of MENTO tokenholders, is an algorithmic stablecoin that references the Euro and is stabilized by a diversified onchain reserve managed at the protocol level.

Holders of EURm receive a digital token referencing the Euro (EUR), the asset against which the token maintains its target value. Stability is supported by the Mento Reserve, a collateral pool comprising digital assets including Bitcoin (BTC), Ether (ETH), Celo (CELO), Dai (DAI), USD Coin (USDC), and the cMCO2 carbon credit token, among other digital assets held to back outstanding tokens.

EURm is an algorithmic stablecoin associated with the Mento Labs project rather than a token issued by a single corporate entity holding a banking or fund license. The token operates through protocol smart contracts under the governance of MENTO tokenholders, who direct reserve management and stabilization parameters. The holder claim is a protocol token referencing the Euro and backed by the onchain Mento Reserve rather than a deposit or fund unit. Stabilization and any conversion between EURm and reserve assets occur through the protocol mechanism that maintains the token near its Euro reference value.

EURm is issued onchain as a stablecoin token whose outstanding supply is backed by the Mento Reserve. Stabilization operates through protocol smart contracts that adjust supply against reserve collateral to hold the token near its Euro reference value, with reserve composition tracked onchain across the supported digital assets.

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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 Euro (EURm) is a euro stablecoin issued by Mento Labs.

Holders can mint and redeem directly with Mento Labs.

EURm has been issued on Celo as an ERC-20 token since March 2021.

Mento EuroEURm

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