# Mento Protocol

> The Future of Onchain FX

Mento is an onchain foreign exchange protocol built on multi-currency stablecoins. It lets users swap stablecoins at foreign exchange rates, borrow currency stablecoins against collateral, and earn by providing liquidity.

Mento is an onchain foreign exchange protocol built around a set of multi-currency stablecoins. It lets users swap stablecoins at foreign exchange rates, borrow currency stablecoins against collateral, and earn by providing liquidity. Holders of the MENTO governance token direct the protocol.

Swap pools quote an oracle rate instead of deriving price from reserves, so trades avoid curve-based slippage, and circuit breakers and trading limits halt activity when a stablecoin moves too far off its peg. The dollar and euro stablecoins are backed one to one by fiat-backed collateral held in a public onchain reserve, while other currency stablecoins are minted through collateralized debt positions that lock the dollar stablecoin as collateral.

Mento offers a platform for issuing the stablecoins and an exchange for swapping them, with developer tools for integrating both. Traders, businesses, and individuals use the stablecoins for foreign exchange, cross-border payments, and local payments.

- Type: Project
- Sector: Finance
- Status: Active
- Founded: 2022-04-01
- Profile: https://thegrid.id/profiles/mento_protocol

## Products

- [Mento Platform](https://thegrid.id/profiles/mento_protocol): Mento Platform is a multi-currency stablecoin issuer that creates stablecoins pegged to fiat currencies. The dollar and euro stablecoins are backed one to one by fiat-backed collateral in the Mento Reserve, whose holdings are verifiable onchain. Other currency stablecoins are minted when users lock the dollar stablecoin in collateralized debt positions and borrow against it, and a stability pool absorbs liquidations. (Stablecoin Issuer, Live, Main Product)
- [Mento Asset Exchange](https://thegrid.id/profiles/mento_protocol): Mento Asset Exchange is a decentralized exchange for swapping Mento stablecoins and other stablecoins at foreign exchange rates. Each pool quotes an oracle price rather than deriving it from reserves, so trades avoid curve-based slippage and liquidity providers earn swap fees. Circuit breakers and trading limits halt trading when a stablecoin moves too far off its peg. (Decentralised Exchange, Live)

## Assets

- [Mento Token (MENTO)](https://thegrid.id/profiles/mento_protocol): MENTO is the governance token of Mento Protocol. It is used to vote on protocol proposals by locking tokens to receive veMENTO, and to control fee structures, risk parameters, oracle providers, and treasury allocation. The longer tokens are locked, the greater the voting power, which aligns governance influence with long-term commitment to the protocol. (Governance)
- [Mento Dollar (USDm)](https://thegrid.id/profiles/mento_protocol): USDm, formerly cUSD, is a USD-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is backed one to one by fiat-backed stablecoins held in the Mento Reserve, whose holdings are verifiable onchain. USDm is also the collateral asset for Mento's collateralized debt positions, which mint the protocol's other currency stablecoins. (Stablecoin)
- [Mento Euro (EURm)](https://thegrid.id/profiles/mento_protocol): EURm, formerly cEUR, is a EUR-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is backed one to one by euro-backed stablecoin collateral held in the Mento Reserve. It is used for payments, remittances, and as a stable store of value with European currency exposure. (Stablecoin)
- [Mento Brazilian Real (BRLm)](https://thegrid.id/profiles/mento_protocol): BRLm, formerly cREAL, is a Brazilian Real-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is used for payments, remittances, and as collateral in DeFi applications. Unlike fiat-backed stablecoins, it holds its peg through over-collateralization with crypto assets in the Mento Reserve. (Stablecoin)
- [Mento West African CFA franc (XOFm)](https://thegrid.id/profiles/mento_protocol): XOFm, formerly eXOF, is a West African CFA franc-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is used for payments, remittances, savings, lending, and everyday transactions in Western and Central Africa. It tracks the CFA franc, shared by several African states across two currency zones, giving digital access to a regional fiat currency. (Stablecoin)
- [Mento Kenyan Shilling (KESm)](https://thegrid.id/profiles/mento_protocol): KESm, formerly cKES, is a Kenyan Shilling-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is used for payments, remittances, and as a stable store of value for East African users. Oracle-based pricing lets users mint and burn KESm directly against the Mento Reserve, holding the peg without relying on liquidity pools. (Stablecoin)
- [Mento British Pound (GBPm)](https://thegrid.id/profiles/mento_protocol): GBPm is a British Pound-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the British Pound for payments and remittances. (Stablecoin)
- [Mento Colombian Peso (COPm)](https://thegrid.id/profiles/mento_protocol): COPm is a Colombian Peso-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the Colombian Peso for payments and remittances. (Stablecoin)
- [Mento Ghanaian Cedi (GHSm)](https://thegrid.id/profiles/mento_protocol): GHSm is a Ghanaian Cedi-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the Ghanaian Cedi for payments and remittances. (Stablecoin)
- [Mento Nigerian Naira (NGNm)](https://thegrid.id/profiles/mento_protocol): NGNm is a Nigerian Naira-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the Nigerian Naira for payments and remittances. (Stablecoin)
- [Mento Swiss Franc (CHFm)](https://thegrid.id/profiles/mento_protocol): CHFm is a Swiss Franc-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the Swiss Franc for payments and remittances. (Stablecoin)
- [Mento Japanese Yen (JPYm)](https://thegrid.id/profiles/mento_protocol): JPYm is a Japanese Yen-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the Japanese Yen for payments and remittances. (Stablecoin)
- [Mento Australian Dollar (AUDm)](https://thegrid.id/profiles/mento_protocol): AUDm is an Australian Dollar-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the Australian Dollar for payments and remittances. (Stablecoin)
- [Mento Canadian Dollar (CADm)](https://thegrid.id/profiles/mento_protocol): CADm is a Canadian Dollar-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the Canadian Dollar for payments and remittances. (Stablecoin)
- [Mento South African Rand (ZARm)](https://thegrid.id/profiles/mento_protocol): ZARm is a South African Rand-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the South African Rand for payments and remittances. (Stablecoin)
- [Mento Philippine Peso (PHPm)](https://thegrid.id/profiles/mento_protocol): PHPm is a Philippine Peso-pegged decentralized stablecoin issued through the Mento Protocol on Celo. It is a synthetic stablecoin minted when users lock USDm as collateral in a collateralized debt position and borrow it, and it can be swapped at foreign exchange rates against other Mento stablecoins. It gives onchain access to the Philippine Peso for payments and remittances. (Stablecoin)

## Links

- [Main](https://www.mento.org)
- [Documentation](https://docs.mento.org)
- [Governance](https://governance.mento.org)
- [Media Kit/branding](https://drive.google.com/drive/folders/1el-gwutBhlCFpLZYBpTBG1Biy3twngTP)
- [Whitepaper](https://github.com/mento-protocol/whitepaper)
- [Forum](https://forum.mento.org)
- [Privacy policy](https://www.mento.org/privacy)
- [Discord](https://discord.gg/Mento Discord)
- [GitHub](https://github.com/mento-protocol)
- [Twitter / X](https://x.com/mentolabs)

## Legal

This data is provided under two licensing models.

Model 1 - open data. The open data core is licensed under the Open Database License (ODbL) — a copyleft/share-alike license allowing free use, modification, and sharing for any purpose. Attribution is required: include "Powered by The Grid" linking to https://thegrid.id wherever the data is used. Derivative databases must be shared under ODbL terms. Trademarks, logos, and brand names (marked "Special TPIP") are not covered by the ODbL. For ML/AI use: training datasets that substantially extract ODbL data are Derivative Databases and must be shared under ODbL if publicly used; models must be attributed in documentation.

Model 2 - commercial licenses. The Grid Data Service (TGDS) is also available as a commercial license. See [Web Services Terms](https://about.thegrid.id/legal/web-services-terms) for commercial use that is not covered by the open data service.

The following applies to both licensing models.
- All data is provided AS IS with no guarantees of accuracy.
- The Grid does not provide investment, legal, or tax advice, and
- a project's presence in The Grid's data does not imply endorsement.


- [Data Licensing & Disclaimers](https://about.thegrid.id/legal/data-licensing-and-disclaimers): Licensing models and disclaimers
- [Open Data (ODbL)](https://about.thegrid.id/legal/open-data): Open Database License terms and scope for The Grid's open data service.
- [Attribution Guidelines](https://about.thegrid.id/legal/open-data-attribution-guidelines): How to attribute The Grid's data when using the open data service.
- [Web Services Terms](https://about.thegrid.id/legal/web-services-terms): commercial Terms for using data services.
- [All Legal Documents](https://about.thegrid.id/legal): Full index of terms, policies, and disclosures

## Optional

- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
- [TGS JSON Structure](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-json-structure.md): Data model structure and relationships
- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP