Mento cryptocurrency exchange is a decentralized platform based on an AMM model. Mento is a part of the Celo project as it is explicitly used for maintaining the Celo Dollar (cUSD), Celo Euro (cEUR), and Celo Real (cREAL) pegs to their corresponding fiat currencies. Essentially, it is a stablecoin exchange made for the Celo project. To see the current Mento trade volume, take a look above.
How does it work? Whenever the demand for these stablecoins increases, Celo mints new stablecoins. Mento is used to purchasing these stablecoins using CELO tokens. It can also be used to swap one stablecoin for another and for CELO tokens.
CELO is the native token of the Celo project.
The Mento crypto exchange was founded by J M Rossy and funded by the Celo Foundation and Mento Labs.
