Mento Dollar (USDm) is an algorithmic US dollar stablecoin. It has about $16.0M in circulation, ranking #110 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
USDm price
$0.9934
Slightly off peg Circulating supply
$16.0M
30-day change
-3.6%
Price
$0.9934
Blockchains
5
Tracked since
Dec 2020
What is USDm?
Mento Dollar (USDm) is an algorithmic US dollar stablecoin. It has about $16.0M in circulation, ranking #110 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
In the issuer's words: Mento Dollars (USDm) are stablecoins that follow the US Dollar and are backed by Mento's Reserve system. The Mento Reserve is diversified portfolio of crypto assets.
USDm supply history
$18.4M$13.7M
Oct 28, 2025Oct 28, 2026
$126M$0
Dec 3, 2020Oct 28, 2026
USDm supply fell 3.6% over the past 30 days, to $16.0M. Its peak was $124M in November 2021, and supply is 87% below that high.
Is USDm holding its peg?
Last price
$0.9934
Target
1.0000 USD
Status
Slightly off pegUSDm is trading 0.5–2% from its target. Small coins often drift like this on thin markets. A gap that persists usually reflects redemption friction or doubts about the backing.
Where USDm lives: supply by blockchain
Supply is concentrated: Celo holds 84% of all USDm. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDm is backed
USDm relies mainly on code and market incentives, rather than full reserves, to hold its peg. This design has historically been the most fragile.
Minting and redemption: USDm is backed by fiat-backed stablecoins held in the Mento Reserve. Minting and redemption occur through oracle-priced Fixed-Price Market Maker (FPMM) pools.
Reserve reports and audits: docs.mento.org
USDm risks
Reflexive collapse
With little hard collateral, falling confidence can feed on itself, the pattern that destroyed TerraUSD in 2022.
Small and thinly traded
With $16.0M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Currently off peg
At the last update USDm traded at $0.9934 against a target of 1.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDm vs USDT and USDC
Similar algorithmic stablecoins
See all →
USDm in the news
USDm FAQ
What is USDm?
Mento Dollar (USDm) is an algorithmic US dollar stablecoin. It has about $16.0M in circulation, ranking #110 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
Is USDm pegged 1:1 to the US dollar?
USDm targets 1 USD. At the last update it traded at $0.9934, a deviation of -0.66%, which we classify as "slightly off peg".
What backs USDm?
USDm is an algorithmic stablecoin. USDm relies mainly on code and market incentives, rather than full reserves, to hold its peg. This design has historically been the most fragile.
Which blockchains is USDm on?
USDm is live on 5 blockchains. The largest by supply are Celo ($13.5M), Monad ($2.4M), Ethereum ($160K).
How much USDm is in circulation?
About $16.0M of USDm was in circulation at the last update, -3.6% over 30 days. That makes it the #110 stablecoin by supply among those we track.
Is USDm safe?
No stablecoin is risk-free. As a algorithmic design, USDm's main risks are a self-reinforcing loss of confidence (the "death spiral" that broke TerraUSD in 2022), thin or absent collateral, and smart-contract bugs. Its supply is small, so liquidity can be thin. It currently shows "slightly off peg" on our peg monitor. This page is information, not investment advice.