As part of our effort to keep the community informed, we’re putting more structure into our communications. This is the first of a regular report on what’s happening at Mento. It covers the period from January to May 2026. We’re iterating on an ongoing basis, so tell us what metrics or information you want to see going forward.
Q1 and the beginning of Q2 of 2026 were defined by Mento V3 going to market and the start of the multichain rollout. Fixed-Price Market Makers (FPMMs) shipped in early March, replacing AMM-style swaps with oracle-referenced mid-market quotes with zero slippage.
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Monad became the first non-Celo deployment and will be followed by two deployments in active preparation for Q2.
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Total Mento stablecoin supply stands at $17.2M. These break down to $16.6M across 12 stablecoins (collateralized by $16.1M), $413k for GBPm (collateralized by $796k), $103k JPYm (collateralized by $172k) and $89k CHFm (collateralized by $143k)
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V3 has built up USD 2.75M of TVL across 15 pools on Celo and Monad.
From an industry perspective, Mento has been building out its position in the onchain FX category: Jordan Calinoff recently joined to lead business development, having previously led stablecoins and RWAs at Chainlink. Senior leadership of Mento was also present at several industry events: Stable Summit at Devconnect, Mastercard’s Stablecoin Trust Forum, the Unlocked podcast, Celo’s L2 Year One livestream, and EthCC Cannes FX Market Structure panel. Mento was also included in Range.org’s Dollar Supremacy report and hosted an FX roundtable in Miami with leaders from various organizations. Recently, Mento launched the Onchain FX Initiative (https://fxonchain.org), an open, ecosystem-driven effort to showcase, connect, and accelerate everyone building in FX.
Full report here: [EXT] 20260604 Mento project report - Google Docs