JPYm, issued by the Mento Protocol smart contracts under the governance of MENTO tokenholders, is an algorithmic stablecoin that references the Japanese Yen and maintains its peg through an onchain reserve of diversified digital assets.

Holders of JPYm receive a digital token referencing the Japanese Yen (JPY), with each unit serving as a unit of value pegged to that fiat currency. Price stability is maintained algorithmically against the Mento Reserve, a portfolio comprising Bitcoin (BTC), Ether (ETH), CELO, Dai (DAI), USD Coin (USDC), cMCO2, and other digital assets that backs outstanding stablecoin balances and supports redemption value.

JPYm is issued by the Mento Protocol smart contracts rather than by a single corporate entity, with parameters administered under the governance of MENTO tokenholders rather than a centralized administrator. Holders rely on the algorithmic stabilization mechanism and the diversified onchain Mento Reserve rather than a contractual claim against a named issuer. Stabilization and reserve management operate through smart contracts that algorithmically adjust supply and reserve allocations to keep balances referencing the Japanese Yen, with the reserve composition providing the collateral backing the circulating supply.

JPYm is issued onchain as a stablecoin token on supported public networks, with minting and redemption executed through the protocol smart contracts against the Mento Reserve. Supply adjusts algorithmically so circulating balances remain referenced to the Japanese Yen as reserve allocations and demand change.

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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.

Mento Japanese YenJPYm

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