Quick Start Guides
Do one thing now — swap at FX rates, add liquidity, or borrow a stable.
Choose what you want to do first — swap, add liquidity, borrow, or earn (Stability pool). For the big picture, see the Overview.
✨ Your first on-chain FX swap — no slippage
Go to app.mento.org and connect your wallet (header; e.g. MetaMask, Valora) on a supported chain (e.g. Celo).
On the swap screen, click Select next to From and choose the token you’re selling (e.g. USDC). Click Select next to To and choose the token you’re buying (e.g. GBPm). Enter the amount — or click MAX to use your full balance.
Click Swap. If the app asks for token approval first, confirm Approve …, then click Swap again.
On the confirmation screen, check the rate and fees, then click Confirm Swap.
You get the same rate you’d see off-chain for GBP/USD. No curve, no slippage. 🎯
💧 Add liquidity and earn fees
Get both tokens — Use the swap flow above to get each side of the pair (e.g. some GBPm and some USDm), or source them elsewhere (CEX, bridge).
Go to app.mento.org and connect your wallet.
Open Pools or Liquidity. Select a pool (e.g. GBPm/USDm).
Enter amounts for both tokens; the app shows the required ratio. Confirm. You’re now an LP and earn fees from swaps. 🎯
On Monad: Provide liquidity to USDC/USDm or GBPm/USDm and earn Merkl campaign rewards. See Earn Merkl rewards on Monad (FPMMs).
🏦 Borrow a stable (e.g. GBPm)
A Trove (CDP) lets you lock USDm as collateral and borrow another stable (e.g. GBPm) against it. You set your own interest rate; there’s no fixed repayment schedule. Keep your collateral ratio above the minimum or the position can be liquidated.
Go to app.mento.org and connect your wallet (e.g. Celo).
Open Borrow. Select the asset to borrow (e.g. GBPm) in the dropdown at the top right, then click + Open Your First Trove.
On the Open a Trove screen:
COLLATERAL — Enter how much USDm to deposit (or MAX). Your balance is shown next to the field.
BORROW — Enter how much GBPm to borrow. Minimum is £1,000 GBPm.
LOAN-TO-VALUE — The bar shows risk (SAFE → MODERATE → RISKY → LIQ). Liquidation happens when your collateral ratio drops below the minimum (110%); the app shows “Liquidation at …%”.
ANNUAL INTEREST RATE — This is the interest you pay on your borrowed amount. Set or pick a rate (minimum 0.2%). In Liquity v2, anyone can redeem: they burn GBPm and receive USDm collateral from open troves. Troves are ordered by interest rate, and the lowest-interest troves are redeemed first. So a lower rate means cheaper borrowing but you’re first in line to be redeemed against; a higher rate costs more but reduces that risk.
Review the loan summary on the right, then confirm (Enter collateral amount / Open Trove). To earn from the Stability pool with your borrowed GBPm (or any CDP-based stable), switch to Earn (see below). 🎯
📈 Earn — Stability pool
The Stability pool is only available for CDP-based stablecoins (e.g. GBPm), not for Reserve-backed stables like USDm or EURm. Deposit into the pool to earn a share of trove interest (interest paid by borrowers) and liquidation gains (when liquidations occur, your deposit repays debt and you receive collateral at a discount). If the app shows additional claimable rewards, those are program-specific and may vary over time. No lock-up — withdraw anytime.
Go to app.mento.org and connect your wallet.
Switch to the Earn tab (top nav: Swap, Pool, Borrow, Earn).
Select the asset (e.g. GBPm) in the currency selector. You'll see the Stability pool for that asset: total deposits, pool APY, avg. borrow rate.
Under Deposit, enter an amount (or use 25%, 50%, 75%, MAX). Optionally check Claim rewards with deposit to claim pending rewards when you deposit. Click Enter amount to deposit (or the active deposit button) to confirm. No lock-up — you can withdraw anytime. 🎯
More: Overview · FPMMs · Earn Merkl rewards on Monad
Last updated