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:
Stablecoin usage by chain
| Name | Bridge | |||||
|---|---|---|---|---|---|---|
| 0.00% | +0.24% | +0.61% | +0.83% | 1.63m |