Mento Dollar
Profil du Stablecoin
Mento Dollar (USDm) est un stablecoin algorithmique — son ancrage à USD est maintenu par la mécanique du protocole on-chain plutôt que par des réserves off-chain. Actuellement, 16 M $US sont en circulation sur 5 réseaux blockchain. Le mécanisme ajuste l'offre (mint et burn) en fonction des écarts de prix par rapport au peg cible.
À propos de Mento Dollar (USDm)
Mento Dollars (USDm) are stablecoins that follow the US Dollar and are backed by Mento's Reserve system. The Mento Reserve is diversified portfolio of crypto assets.
USDm is backed by fiat-backed stablecoins held in the Mento Reserve. Minting and redemption occur through oracle-priced Fixed-Price Market Maker (FPMM) pools.
Émetteur et attestation
Mento Dollar (USDm) is issued by Mountain Protocol, operating under Bermuda (Bermuda Monetary Authority Digital Asset Business licence). Originally launched in 2023.
Composition des réserves
Yield-bearing stablecoin backed by short-duration US Treasuries. Daily rebases pass the yield directly to holders.
Rapports d'attestation des réserves
Les informations sur l'émetteur sont compilées à partir de divulgations publiques, de dépôts réglementaires NYDFS / BMA et de rapports d'attestation de source primaire. Vérifiez toujours directement auprès de l'émetteur avant toute décision.
Activité récente de l'offre
Mento Dollar (USDm) supply expanded by 203,5 k $US (+1.29%) in the last 24 hours, expanded by 1,3 M $US (+9.03%) over the past week, and expanded by 1 M $US (+6.79%) over the past 30 days.
Expansion phase: minting activity has outpaced redemptions, with circulating supply growing 6.79% over the past month.
Historique de l'Offre
Network distribution
Mento Dollar circulates across 5 blockchain networks. Celo hosts the largest share at 91.15%, followed by Monad at 7.68%. Cross-chain distribution has remained broadly stable over the past 30 days.
| Chaîne | Offre | Part | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Celo | 14,6 M $US | 91.15% | +2.03% | -1.43% |
| Monad | 1,2 M $US | 7.68% | -6.65% | 0.00% |
| Ethereum | 159,7 k $US | 1.00% | 0.00% | 0.00% |
| Solana | 28,2 k $US | 0.18% | 0.00% | -0.00% |
| Kaia | 5,5 $US | 0.00% | 0.00% | 0.00% |
Historique de stabilité de l'ancrage
Mento Dollar (USDm) relies on protocol-level supply rebalancing rather than direct asset redemption to defend its 1.00 USD peg. The spot price is currently $1.0000 (+0.001% deviation). Algorithmic designs carry materially higher peg-failure risk than reserve-backed stablecoins — the May 2022 Terra/UST collapse remains the canonical reference case.
Comment les stablecoins algorithmic défendent leur ancrage
Algorithmic stablecoins attempt to balance supply and demand through protocol-level mint/burn incentives — typically against a paired governance or seigniorage token. When the price drops below $1.00, the protocol burns supply (often by letting holders swap into a discounted asset); when it rises above $1.00, the protocol mints new tokens. This design only holds when the paired asset retains independent demand. If the market loses faith in the paired asset, the feedback loop reverses and produces a hyperinflationary "death spiral" — the failure mode that wiped out roughly $60B in the Terra/UST collapse.
Implications pratiques pour les détenteurs
- Peg-failure tail risk is materially higher than reserve-backed designs. Position sizing should reflect this — algorithmic stablecoins are not a "cash equivalent" for risk-management purposes.
- Read the latest collateralisation ratio carefully: many "algorithmic" stablecoins have since migrated to partial or full collateralisation. The label can lag the actual mechanism.
- Reflexive feedback loops mean small redemption pressure can cascade. Exit liquidity should be assessed during normal conditions, not after stress begins.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (algorithmic) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Adresses de contrat
Mento Dollar (USDm) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chaîne | Adresse du contrat | Vérifier |
|---|---|---|
| Ethereum | 0x765de816845861e75a25fca122bb6898b8b1282a | Explorateur |
Les adresses de contrat proviennent du profil stablecoin de DeFiLlama. Certaines chaînes (Tron, Solana, Aptos, Sui) utilisent des formats d'adresse non EVM. Le lien « Explorateur » ouvre l'explorateur de blocs officiel de la chaîne concernée ; nous ne renvoyons pas vers des explorateurs tiers susceptibles d'afficher des données modifiées.
Comparer Mento Dollar à d'autres stablecoins algorithmic
Below are the largest algorithmic stablecoins tracked on Mantapex alongside Mento Dollar (USDm). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Offre | Mécanisme | Chaînes |
|---|---|---|---|
| Frax (FRAX) | 212 M $US | algorithmic | 22 |
| Bean (BEAN) | 33,4 M $US | algorithmic | 1 |
| Neutrino USD (USDN) | 31,1 M $US | algorithmic | 4 |
| SpiceUSD (USDS) | 18 M $US | algorithmic | 4 |
| Alchemix USD (ALUSD) | 13,7 M $US | algorithmic | 4 |
Entre les classes de mécanismes
If you're researching USDm as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Stabilité du Peg
Distribution par Chaîne
Ressources et sources de données
Mento Dollar (USDm) is tracked across major crypto data providers. The links below open Mento Dollar (USDm)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Actualités récentes sur Mento Dollar
Latest reporting from major crypto news outlets covering Mento Dollar.
- Crypto Briefing
MegaETH concludes Terminal program early, rewards users in USDM and merges features with Rabbithole
MegaETH's strategic consolidation enhances user experience and streamlines ecosystem engagement, potentially boosting application quality and adoption. MegaETH concludes Terminal…
- Cryptopolitan
MegaETH launchs a token buyback program funded by yield from the USDm stablecoin
MegaETH Foundation shared on X on May 7 that it had completed its first token buyback, using all net rewards accrued from the USDm stablecoin issuer through the end of April.
- Blockonomi
MegaETH Initiates Token Repurchase Program Powered by USDm Stablecoin Yield
MegaETH has unveiled its token repurchase initiative following substantial selling pressure after the MEGA token's initial launch. The protocol's foundation financed the inaugural…
- Blockonomi
MegaETH Foundation Completes First MEGA Buyback Using USDm Rewards
MegaETH recycles USDm issuer rewards into MEGA buybacks, keeping value locked within its own ecosystem.
- Crypto news
MegaETH launches MEGA buyback funded by USDm stablecoin revenue
MegaETH has activated a MEGA token buyback program funded entirely by net revenue from its USDm stablecoin, turning Treasury‑backed yield into a standing bid for its “real‑time…
- Coincu
OKX Announces Delisting of Selected USDⓈ-M Perpetual Contracts
OKX will delist five USDⓈ-M perpetual futures contracts on June 12, 2025, giving traders less than 48 hours to close positions or face automatic settlement at index-average prices.
- Coincu
Binance to Adjust Minimum Price Increments for USDⓈ-M Perpetual Contracts in April
Binance announced it will adjust the minimum price increments for multiple USDⓈ-M perpetual contracts in April, a contract specification change that could affect order placement…
- The Block
MegaETH Foundation to use USDM stablecoin revenue to fund MEGA token buybacks
The MegaETH Foundation will use revenue earned from the protocol's native stablecoin USDM to accumulate MEGA tokens.
Stablecoins associées
Stablecoins comparable to Mento Dollar by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Autres stablecoins algorithmic
Stablecoins indexés sur USD
Plus grands stablecoins par offre
Avertissement de Risque
Les stablecoins comportent des risques, notamment la dé-peggisation, les changements réglementaires et le risque de contrepartie. Diversifiez toujours et faites vos propres recherches.