Mento Protocol
  • Mento Protocol
    • Home
    • What, why, who Mento?
    • Quick Links
  • HOW TO SOURCE MENTO STABLES
    • Overview
    • CEXs, DEXs, Pools
    • From other Chains
    • On-ramp Providers
    • Automation via MATE
  • Protocol Concepts
    • Stability
    • Reserve
    • Asset exchanges
      • Broker
      • Trading Limits
      • Exchange Providers
      • BiPoolManager
    • Oracles
    • On-Chain Circuit Breaker
    • Governance
      • Verification
  • Developers
    • Repository Overview
    • Integrate Mento Stables
    • Smart Contracts
      • Broker
      • TradingLimits
      • BiPoolManager
      • Pricing Modules
      • SortedOracles
      • BreakerBox
      • Reserve
      • StableToken
      • Audits
    • Deployments
      • Addresses
      • Verification
      • Parameters
    • Mento SDK
      • Installation
      • Guides
        • Getting Exchange Pairs
        • Getting a Quote
        • Initiating a Swap
    • Oracles
      • Oracle Client
        • Price Sources
      • Becoming an Oracle Provider
  • Economics
    • Stability
    • Risks
    • Research
  • Governance & Token
    • Overview
    • Governance Components
    • Governance Scope
    • MENTO Token
      • Listing information
    • Airdrop
    • Governance Watchdogs
Powered by GitBook
On this page
  • Overview
  • Smart Contracts
  • Protocol Reserve
Edit on GitHub
  1. Governance & Token

Governance Scope

What is being governed?

PreviousGovernance ComponentsNextMENTO Token

Last updated 11 months ago

Overview

Mento Governance controls the following components:

  • A suite of Smart Contracts deployed on the Celo Mainnet;

  • A whose funds are held on Celo, Ethereum, and Bitcoin in a variety of ways:

    • Custodians;

    • Multi-signature wallets;

    • LP tokens of Reserve positions in various liquidity pools;

    • ReserveSpender Multisig rights

Smart Contracts

The Mento Protocol includes the following upgradeable Smart Contracts (proxies and implementations), which are currently owned by Celo Governance:

  • (one per Mento Stablecoin, i.e. cUSD)

A Celo Governance Proposal to transfer ownership over all the above proxies and their implementations to Mento Governance will be submitted soon.

Protocol Reserve

Mento Governance will control reserve funds via two mechanisms:

The LP positions currently owned by Celo Governance: Initially, we opted to hold protocol-owned liquidity (POL) in the governance contract for increased transparency and community control, but this proved cumbersome for active maintenance. However, there’s a middle ground. POL holdings will be migrated to a , where Mento POL multisig is managed by Mento Labs for agile portfolio management, over which Mento Governance will have veto power.

The ReserveSpender Multisig has spending rights over the . A group of early cLabs and Celo Foundation members currently owns it. This multisig should be removed from the Reserve during the governance transfer process, and the Mento POL multisig should be added.

Protocol Reserve
BiPoolManagerProxy
BreakerBox
BrokerProxy
MedianDeltaBreaker
ReserveProxy
StableTokenXXXProxy
ValueDeltaBreaker
safeguard mechanism
Reserve