Total Value Locked$8.93m
TVL by Chain
Ethereum$6.75m
Celo$1.47m
Monad$707,605
Bitcoin$0.49
Key Metrics
Fees 30d$411.65
Fees 30d by chain
Celo$411.65
Fees 7d$39.17
Celo$39.17
Fees 24h$11.35
Celo$11.35
Cumulative Fees$30,884
Celo$30,884
Revenue 30d$411.65
Revenue 30d by chain
Celo$411.65
Revenue 7d$39.17
Celo$39.17
Revenue 24h$11.35
Celo$11.35
Cumulative Revenue$30,884
Celo$30,884
Holders Revenue 30d$0
Holders Revenue 30d by chain
Celo$0
Holders Revenue 7d$0
Celo$0
Holders Revenue 24h$0
Celo$0
Cumulative Holders Revenue$0
Celo$0
DEX Volume 30d$80,704
DEX Volume 30d by chain
Celo$80,704
DEX Volume 7d$14,867
Celo$14,867
DEX Volume 24h$35.12
Celo$35.12
Cumulative DEX Volume$30.019b
Celo$30.019b
Total Raised$10m
Oct 16, 2024$10mRound: Investors: T-Capital, HashKey Capital, Richard Parsons, Flori Ventures, Verda Ventures, w3.fund
Protocol Information
Mento, an open source and permissionless protocol live on the Celo network. It facilitates the launch of stablecoins such as cUSD, cEUR, and cREAL
Audits:
Methodology
TVL: TVL counts all assets deposited as collateral to mint Mento stablecoins.View code on GitHubFees: Each swap is priced with a spread (0.02%-2% depending on the pair) applied to the amount swapped in; that spread is the fee.View code on GitHubRevenue: All swap-spread fees. They accrue to the Mento Reserve backing the stablecoins; there are no liquidity providers, so nothing is paid to a supply side.View code on GitHubHolders Revenue: View code on GitHubDEX Volume: Value of tokens users received from Mento stablecoin swaps.View code on GitHubCompetitors
Mento V2 history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from May 22, 2020 to Oct 22, 2026.
All-time high TVL: $858.7m on Oct 27, 2021. All-time low TVL: $8.92m on Oct 20, 2026.
Daily TVL, Sep 23, 2026 to Oct 22, 2026
| Date | TVL |
|---|---|
| Sep 23, 2026 | $13.13m |
| Sep 24, 2026 | $12.63m |
| Sep 25, 2026 | $12.91m |
| Sep 26, 2026 | $13.14m |
| Sep 27, 2026 | $13.1m |
| Sep 28, 2026 | $13.21m |
| Sep 29, 2026 | $13.18m |
| Sep 30, 2026 | $13.2m |
| Oct 1, 2026 | $13.23m |
| Oct 2, 2026 | $13.2m |
| Oct 3, 2026 | $13.28m |
| Oct 4, 2026 | $13.18m |
| Oct 5, 2026 | $13.28m |
| Oct 6, 2026 | $13.39m |
| Oct 7, 2026 | $13.34m |
| Oct 8, 2026 | $12.84m |
| Oct 9, 2026 | $12.65m |
| Oct 10, 2026 | $9.26m |
| Oct 11, 2026 | $9.24m |
| Oct 12, 2026 | $9.26m |
| Oct 13, 2026 | $9.1m |
| Oct 14, 2026 | $9.17m |
| Oct 15, 2026 | $9.1m |
| Oct 16, 2026 | $9.13m |
| Oct 17, 2026 | $9.07m |
| Oct 18, 2026 | $8.96m |
| Oct 19, 2026 | $8.93m |
| Oct 20, 2026 | $8.92m |
| Oct 21, 2026 | $9.01m |
| Oct 22, 2026 | $9.05m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $122.2m |
| Dec 31, 2024 | $99.11m |
| Jan 31, 2025 | $87.44m |
| Feb 28, 2025 | $70.51m |
| Mar 31, 2025 | $62.78m |
| Apr 30, 2025 | $62.14m |
| May 31, 2025 | $58.11m |
| Jun 30, 2025 | $48.31m |
| Jul 31, 2025 | $14.75m |
| Aug 31, 2025 | $53.36m |
| Sep 30, 2025 | $48.17m |
| Oct 31, 2025 | $39.43m |
| Nov 30, 2025 | $31.55m |
| Dec 31, 2025 | $21.04m |
| Jan 31, 2026 | $20.77m |
| Feb 28, 2026 | $15.07m |
| Mar 31, 2026 | $17.65m |
| Apr 30, 2026 | $16.93m |
| May 31, 2026 | $16.85m |
| Jun 30, 2026 | $11.47m |
| Jul 31, 2026 | $12.18m |
| Aug 31, 2026 | $11.88m |
| Sep 30, 2026 | $13.2m |
| Oct 22, 2026 (latest) | $9.05m |
TVL at each year end, Dec 31, 2020 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2020 | $167.19m |
| Dec 31, 2021 | $531.48m |
| Dec 31, 2022 | $136.37m |
| Dec 31, 2023 | $97.32m |
| Dec 31, 2024 | $99.11m |
| Dec 31, 2025 | $21.04m |
Fees, revenue and holders revenue by UTC calendar month, Jul 2026 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Jul 2026 | $8,863 | $8,863 | $0 |
| Aug 2026 | $21,413 | $21,413 | $0 |
| Sep 2026 | $292.45 | $292.45 | $0 |
| Oct 2026 (to date) | $315.52 | $315.52 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/mento-v2
Frequently asked questions
What is Mento V2's TVL?
As of Oct 22, 2026, Mento V2 has $8.93m in total value locked. TVL has decreased 31.7% over the past 30 days.
What chains does Mento V2 operate on?
Mento V2 operates on 4 chains: Ethereum, Celo, Monad, and Bitcoin. Ethereum holds the largest share at 75.6%.
How much has Mento V2 generated in fees and revenue?
Over the past 30 days, Mento V2 generated $411.65 in fees. Of that, $411.65 was protocol revenue. Based on the trailing year, the annualized rate is $121,213 in fees and $121,213 in revenue.
How does Mento V2's TVL compare to similar protocols?
Among Algo-Stables protocols tracked by DefiLlama, Mento V2 ranks #2 by TVL. The category holds $46.05m across 97 protocols, and Mento V2 accounts for 19.4% of that total. Similar protocols include Frax, Basis Cash, SPOT Cash, Frax FPI, XUSD Money, Generic.Money, Spice Trade, TiTi Protocol, OpenDAO, and Fei Protocol.
How much trading volume does Mento V2 process?
Mento V2 processed $80,704 in DEX volume over the past 30 days.