Stablecoin Information
NGNm is a NGN-pegged synthetic stablecoin on Celo, part of the Mento Protocol. It is minted via Liquity v2-style CDPs: users deposit USDm as collateral and borrow NGNm against it.
Category:crypto-backed
Minting and Redemption
NGNm is minted by depositing collateral into a Mento CDP (trove) and borrowing cNGN against it. Repaying the borrowed NGNm closes or reduces the trove and releases the USDm collateral.
Audits:
Stablecoins Usage by Chain
| Name | Bridge | |||||
|---|---|---|---|---|---|---|
| 0 | <0.0001% | -6.76% | -6.76% | 74.03m |