Stablecoin Information
PHPm is a PHP-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 PHPm against it.
Category:crypto-backed
Minting and Redemption
PHPm is minted by depositing collateral into a Mento CDP (trove) and borrowing PHPm against it. Repaying the borrowed PHPm closes or reduces the trove and releases the USDm collateral.
Audits:
Stablecoins Usage by Chain
| Name | Bridge | |||||
|---|---|---|---|---|---|---|
| 0 | >-0.0001% | +0.34% | +0.05% | 1.6m |