Mento West African CFA Franc(XOFm)
Market Cap$33,995
Price-
Total Circulating19.19m
Stablecoin Information
XOFm is a XOF-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 XOFm against it.
Category:crypto-backed
Minting and RedemptionXOFm is minted by depositing collateral into a Mento CDP (trove) and borrowing XOFm against it. Repaying the borrowed XOFm closes or reduces the trove and releases the USDm collateral.
Audits:
Stablecoins Usage by Chain
| Name | Bridge | |||||
|---|---|---|---|---|---|---|
| 0 | < 0.0001% | < 0.0001% | < 0.0001% | 19.19m |