KESm, issued by the Mento Protocol smart contracts under the governance of its tokenholders, is a stablecoin that references the Kenyan Shilling and forms part of Mento Labs' portfolio of local-currency digital assets recorded in its product registry.

Holders of KESm receive a digital token whose value references the Kenyan Shilling (KES) as its peg currency. Per the issuer product record, stability is maintained through the Mento Reserve, an asset pool comprising Bitcoin (BTC), Ether (ETH), Celo (CELO), Dai (DAI), USD Coin (USDC), the cMCO2 carbon credit token, and other digital assets. The product record describes KESm as an algorithmic stablecoin, with reserve assets supporting the referenced exchange value held by the holder.

The asset registry metadata attributes KESm to Mento Labs and characterizes it as an algorithmic stablecoin stabilized by an onchain reserve rather than a token issued by a single corporate entity exercising centralized control. Because no in-scope issuer documentation could be sourced for this entry, the issuer legal entity, jurisdiction of formation, applicable regulator or license regime, the legal form of the tokenholder claim, eligibility and offering restrictions, redemption rights, and the security or custodial arrangement protecting tokenholders are not established for this description and are recorded as unavailable.

KESm is recorded as an onchain stablecoin within the Mento Labs product registry. The token standard, the specific public blockchain networks supported, the mint and burn mechanics, settlement timing, and any oracle or reference-price publication mechanism could not be established from in-scope issuer documentation and are recorded as unavailable for this entry.

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# Asset transfer count methodology

## 1. Overview

Asset transfer count is defined as the number of user transactions that move assets between addresses. It is utilized to reflect how frequently assets are used for payments, trading, or other onchain activity. The metric is calculated daily for each tracked asset across all supported blockchains. By aggregating these transfer events, a comprehensive view of onchain utility and transactional velocity is provided.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token transfers
- **Other blockchain events**: Token transfers, withdrawals, and mint events across non-EVM chains (Solana, Aptos, Near, Polkadot Asset Hub, Stellar, and others)
- **Asset metadata**: Token addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract and count raw transfer events

- **Purpose**: Identify and count individual token transfer events on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, ERC-20 token transfers are parsed and counted. On Solana, SPL token transfers are parsed and counted. On Aptos, Near, and Ripple, token transfers and withdrawals are parsed and counted. On Stellar, classic token withdrawals and Soroban token transfers are aggregated. On Sui, token withdrawals and token mint events are aggregated. On Cardano, UTXO withdrawals and token mint events are aggregated. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed.
- **Key fields**: `token_address`: The unique identifier of the token contract or asset. `block_timestamp`: The timestamp of the transaction block.

### Component B: Daily aggregation and zero-filling

- **Purpose**: Aggregate the daily transfer counts per asset and ensure continuous time-series data.
- **Logic**: The extracted transfer counts are aggregated daily for each token address on its respective chain. For days where no transfer activity is recorded for a tracked asset, the time series is filled with zero values to ensure a continuous daily record.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The daily count of transfers per token on a specific chain.

### Component C: Final aggregation

- **Purpose**: Combine the daily transfer counts across all supported chains for each asset.
- **Logic**: The daily transfer counts from all individual chains are combined. Token addresses are mapped to unique asset identifiers using asset metadata. The final daily asset transfer count is then aggregated across all chains for each asset.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The total aggregated daily transfer count for the asset.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of transfer transactions involving the asset.

Asset transfer count

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 Kenyan Shilling (KESm) is a Kenyan Shilling stablecoin issued by Mento Labs.

Holders can mint and redeem directly with Mento Labs in USDC and USDT.

KESm has been issued on Celo as an ERC-20 token since May 2024.

Mento Kenyan ShillingKESm