# Earn Merkl rewards on Monad (FPMMs) **The first Mento FPMMs are live on Monad** — and you can earn **Merkl campaign rewards** (paid in **USDm**) by providing liquidity to the **USDC/USDm** and **GBPm/USDm** pools. Campaigns launched on **March 12, 2026** (4pm CET) and are expected to run until **June 1st**, with rewards increasing over time. This page walks you through getting **USDm** and **GBPm** on Monad (or on Celo, then bridging) and adding liquidity to earn. One important difference between the two campaign pools: **GBPm/USDm** is an **FX-priced** pool and inherits **FX market-hours restrictions** from `OracleAdapter -> MarketHoursBreaker`, while **USDC/USDm** is **not** subject to that specific weekend/holiday gate. *** ## Why provide liquidity on these pools? * **Oracle-priced FPMMs** — Swaps use the fair FX rate; no curve slippage. As an LP you earn swap fees and, for the duration of the campaign, **Merkl rewards paid in USDm** on top. * **Two pools, two ways to participate** — **USDC/USDm** (reserve-backed USDm) and **GBPm/USDm** (CDP-backed GBPm). Pick one or both. * **Simple path from any chain** — Swap into USDm or GBPm on **Monad** in the Mento app (no bridge needed). If you swap on **Celo** instead, bridge your Mento stables to Monad via [Portal Bridge](https://portalbridge.com/), then add liquidity in the [Mento app](https://app.mento.org/pools?chain=143). *** ## Step 1: Get USDm and GBPm ### USDm (reserve-backed) USDm is backed by the [Mento Reserve](https://reserve.mento.org/). You can get it in two main ways: **Option A — On Monad** * Go to [Mento app (Monad swap)](https://app.mento.org/?chain=143). * Connect your wallet and select **Monad**. * Swap **USDC** or **AUSD** into **USDm** at the oracle rate (no slippage). **Option B — On Celo, then bridge to Monad** * On **Celo**: open [Mento app (Celo swap)](https://app.mento.org/?chain=42220), connect your wallet, and swap into **USDm** (e.g. USDC → USDm). * Bridge **USDm** (or other assets) from Celo to Monad using [**Portal Bridge**](https://portalbridge.com/) — the recommended way to move Mento stables from Celo to Monad. If you’re starting on another EVM chain (e.g. Ethereum mainnet), use [**Squid Router**](https://app.squidrouter.com/) to route to Celo, then swap and/or bridge to Monad as above. ### GBPm (CDP-backed) GBPm is created when users **borrow** against collateral in a CDP; it is not minted by the Reserve. You can get it in three ways: **Option A — Borrow on Celo** * Go to [**Mento app (Celo borrow)**](https://app.mento.org/borrow?chain=42220). * Connect your wallet on **Celo**, select **GBPm**, and open a trove: deposit **USDm** as collateral and borrow **GBPm**. * To use that GBPm on Monad, bridge it (and any other assets) via [Portal Bridge](https://portalbridge.com/). **Option B — Swap on Monad** * Go to [Mento app (Monad swap)](https://app.mento.org/?chain=143) and swap into **GBPm** (e.g. USDm → GBPm). **Option C — Swap on Celo, then bridge** * On **Celo**: [Mento app (Celo swap)](https://app.mento.org/?chain=42220) — swap into **GBPm**. * Bridge to Monad via [Portal Bridge](https://portalbridge.com/). *** ## Step 2: Add liquidity and earn Merkl rewards Once you have **USDm** and/or **GBPm** (and the other side of the pair) on **Monad**, add liquidity to the FPMM pools in the Mento app. Your position earns swap fees and, for the campaign period, **Merkl rewards**. ### Pool links (Monad) | Pool | Add liquidity (Mento app) | Merkl campaign | | ------------- | ----------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------- | | **USDC/USDm** | [Open in Mento app](https://app.mento.org/pools/monad/0x463c0d1F04bcd99A1efCF94AC2a75bc19Ea4A7E5?chain=143) | [View on Merkl](https://app.merkl.xyz/opportunities/monad/ERC20LOGPROCESSOR/0x463c0d1F04bcd99A1efCF94AC2a75bc19Ea4A7E5) | | **GBPm/USDm** | [Open in Mento app](https://app.mento.org/pools/monad/0xD0E9c1a718D2a693d41eacd4B2696180403Ce081?chain=143) | [View on Merkl](https://app.merkl.xyz/opportunities/monad/ERC20LOGPROCESSOR/0xD0E9c1a718D2a693d41eacd4B2696180403Ce081) | ### Celo pools (for swapping or LP) * **GBPm/USDm on Celo:** [Open in Mento app](https://app.mento.org/pools/celo/0x8C0014afe032E4574481D8934504100bF23fCB56?chain=42220) 1. Open the pool link above (Mento app, Monad). 2. Connect your wallet and ensure you’re on **Monad**. 3. Enter amounts for both sides of the pair (e.g. USDC and USDm, or GBPm and USDm). The app shows the required ratio. 4. Confirm. You’re now an LP and will earn swap fees plus Merkl rewards (in **USDm**) for the campaign period. *** ## Weekend And Holiday Impact The two campaign pools do **not** behave the same way on weekends and holidays: * **USDC/USDm** — not subject to the FX market-hours breaker * **GBPm/USDm** — subject to the FX market-hours breaker because it depends on a live GBP/USD-style FX rate Under the current `MarketHoursBreaker`, FX is treated as closed: * from **Friday 21:00 UTC** until **Sunday 23:00 UTC** * on **Dec 25** and **Jan 1** * after **22:00 UTC** on **Dec 24** and **Dec 31** ### What This Means In Practice * On **GBPm/USDm**, **quotes and swaps** are unavailable while FX markets are closed * On **GBPm/USDm**, **rebalancing** is also unavailable while FX markets are closed * On **USDC/USDm**, this specific FX weekend/holiday restriction does **not** apply * If you already hold both tokens, **adding or removing liquidity** is not blocked by this FX market-hours gate at the pool level If you want to enter the **GBPm/USDm** campaign by swapping into GBPm first, do that while FX markets are open, or wait until the market reopens. *** ## Campaign details * **Start:** March 12, 2026, 4pm CET * **Expected end:** June 1st (rewards increase over time). * **Pools:** USDC/USDm and GBPm/USDm on Monad. * **Rewards:** Paid in **USDm** and distributed via [Merkl](https://app.merkl.xyz/) for liquidity provision in these FPMM pools. Check the Merkl links above for current APRs and claim instructions. *** ## Quick links | What you need | Link | | -------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Swap on Celo | [Mento app (Celo)](https://app.mento.org/?chain=42220) | | Swap on Monad | [Mento app (Monad)](https://app.mento.org/?chain=143) | | Borrow GBPm (Celo) | [Mento app (Celo borrow)](https://app.mento.org/borrow?chain=42220) | | Bridge Celo → Monad | [portalbridge.com](https://portalbridge.com/) | | Route from other EVM (e.g. Ethereum) to Celo | [app.squidrouter.com](https://app.squidrouter.com/) | | USDC/USDm pool (Monad) | [Mento app](https://app.mento.org/pools/monad/0x463c0d1F04bcd99A1efCF94AC2a75bc19Ea4A7E5?chain=143) · [Merkl](https://app.merkl.xyz/opportunities/monad/ERC20LOGPROCESSOR/0x463c0d1F04bcd99A1efCF94AC2a75bc19Ea4A7E5) | | GBPm/USDm pool (Monad) | [Mento app](https://app.mento.org/pools/monad/0xD0E9c1a718D2a693d41eacd4B2696180403Ce081?chain=143) · [Merkl](https://app.merkl.xyz/opportunities/monad/ERC20LOGPROCESSOR/0xD0E9c1a718D2a693d41eacd4B2696180403Ce081) | *** **More:** [Getting Mento stables](https://docs.mento.org/mento-v3/other/getting-mento-stables) · [Swap & liquidity](https://github.com/mento-protocol/docs/blob/main/other/swap-and-liquidity.md) · [On Celo](https://docs.mento.org/mento-v3/other/getting-mento-stables/on-celo) · [Troubleshooting](https://github.com/mento-protocol/docs/blob/main/other/troubleshooting.md)