USDm, issued by the Mento Protocol smart contracts under the governance of MENTO tokenholders, is a stablecoin that references the U.S. dollar (USD) and is recorded and transferred onchain on public blockchain networks for holders.

A holder of USDm holds a token that references the value of the U.S. dollar (USD) at a one-to-one ratio, with the token serving as the unit of account and the transferable record of that USD-referenced position. The economic return to the holder derives solely from the USD reference; the token records and conveys this position onchain, and any holder transfers it between addresses on the public networks where it is recorded.

USDm is recorded and transferred onchain rather than issued by a single corporate entity, and the holder's position exists as an onchain token balance controlled by the address that holds it. The governance and protocol parameters that condition issuance and transfer are administered through governance rather than a named corporate sponsor. Holders interact with the token directly through their own addresses on the public networks where it is recorded, and the position moves between addresses according to the rules enforced by the recording network itself.

USDm exists as a token recorded on public blockchain networks, where balances are held at addresses and transfers are validated and settled by each network as transactions are confirmed. Settlement occurs as the recording network finalizes each transfer, and holders move balances between addresses directly using standard onchain transactions on the networks where the token is recorded.

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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 Dollar (USDm) is a U.S. dollar stablecoin issued by Mento Labs.

Holders can mint and redeem directly with Mento Labs.

USDm has been issued on public blockchains since April 2020 and is native to Celo and Monad.

Mento DollarUSDm

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