What, why, who Mento?
Mento is a decentralized and transparent protocol that enables the creation of stable value digital assets, such as assets that track the value of fiat currencies (commonly referred to as ‘stablecoins’). The goal of Mento is to support the real-world adoption of digital currencies by enabling the creation of stable value assets for users around the world. Mento is currently live on the Celo blockchain where it operates the Celo Dollar (cUSD), Celo Euro (cEUR), and the Celo Brazilian Real (cReal). All Mento assets are fully collateralized with a diversified portfolio of exogenous crypto assets.
Stable value digital assets are a crucial building block in the web3 economy as they enable a stable store and transfer of value and provide for fast, secure, and low-cost transactions.
More developed web3 markets also call for a more diverse stable value asset landscape to serve the growing demand for remittances, mobile payments, saving, lending, and borrowing in local currencies.
The Mento Protocol aims to provide a solution: A multi-currency stable asset ecosystem to enable real-world usability.
While Mento Protocol is a Celo ecosystem project with a wide array of contributors, it was initially developed and is maintained by the team at Mento Labs.
Mento Labs is a digital asset solutions company based in Berlin with a team of economists, engineers, and web3 experts dedicated to the development of the open protocol Mento. Mento Labs also helps to design sustainable assets for partners, from settlement currencies over incentive tokens to stable assets.