Total Value Locked$8.56m
TVL by Chain
Ethereum$6.64m
Celo$1.19m
Monad$738,259
Bitcoin$0.44
Key Metrics
Fees 30d$204.64
Fees 30d by chain
Celo$204.64
Fees 7d$6.08
Celo$6.08
Fees 24h$0.58
Celo$0.58
Cumulative Fees$31,035
Celo$31,035
Revenue 30d$204.64
Revenue 30d by chain
Celo$204.64
Revenue 7d$6.08
Celo$6.08
Revenue 24h$0.58
Celo$0.58
Cumulative Revenue$31,035
Celo$31,035
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$94,733
DEX Volume 30d by chain
Celo$94,733
DEX Volume 7d$2,257
Celo$2,257
DEX Volume 24h$137
Celo$137
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 GitHubMento V2 history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from May 22, 2020 to Nov 12, 2026.
All-time high TVL: $858.7m on Oct 27, 2021. All-time low TVL: $8.56m on Nov 9, 2026.
Daily TVL, Oct 14, 2026 to Nov 12, 2026
| Date | TVL |
|---|---|
| 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 |
| Oct 23, 2026 | $8.93m |
| Oct 24, 2026 | $8.91m |
| Oct 25, 2026 | $8.96m |
| Oct 26, 2026 | $8.92m |
| Oct 27, 2026 | $8.95m |
| Oct 28, 2026 | $9.01m |
| Oct 29, 2026 | $8.96m |
| Oct 30, 2026 | $8.7m |
| Oct 31, 2026 | $8.8m |
| Nov 1, 2026 | $8.83m |
| Nov 2, 2026 | $8.82m |
| Nov 3, 2026 | $8.77m |
| Nov 4, 2026 | $8.77m |
| Nov 5, 2026 | $8.86m |
| Nov 6, 2026 | $8.67m |
| Nov 7, 2026 | $8.71m |
| Nov 8, 2026 | $8.67m |
| Nov 9, 2026 | $8.56m |
| Nov 10, 2026 | $8.6m |
| Nov 11, 2026 | $8.59m |
| Nov 12, 2026 | $8.59m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| 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 31, 2026 | $8.8m |
| Nov 12, 2026 (latest) | $8.59m |
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 Nov 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 | $458.89 | $458.89 | $0 |
| Nov 2026 (to date) | $7.65 | $7.65 | $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 Nov 12, 2026, Mento V2 has $8.56m in total value locked. TVL has decreased 5.9% 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 77.5%.
How much has Mento V2 generated in fees and revenue?
Over the past 30 days, Mento V2 generated $204.64 in fees. Of that, $204.64 was protocol revenue. Based on the trailing year, the annualized rate is $100,245 in fees and $100,245 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 $37.27m across 97 protocols, and Mento V2 accounts for 23% of that total. Similar protocols include Frax, Basis Cash, Frax FPI, SPOT Cash, XUSD Money, Generic.Money, Spice Trade, TiTi Protocol, OpenDAO, and Fei Protocol.
How much trading volume does Mento V2 process?
Mento V2 processed $94,733 in DEX volume over the past 30 days.