Mento EuroPrice

(EURM)

Celo Euro (cEUR) is an algorithmic, crypto-backed stablecoin pegged 1:1 to the value of the Euro. Operating on the Celo blockchain, it provides a stable digital representation of the Euro for use in decentralized finance (DeFi), global remittances, and mobile-first payments. Unlike traditional currencies, cEUR is native to the blockchain and maintained by the Mento Protocol through a community-governed ecosystem.

cEUR maintains stability via the Mento Protocol, which employs an algorithmic mechanism supported by the Celo Reserve. This reserve consists of a diversified basket of crypto assets, including CELO, BTC, and ETH. When demand for cEUR rises, the protocol expands the supply; when demand falls, it contracts. The system is designed to be over-collateralized, ensuring that users can consistently exchange cEUR for a proportionate value of the reserve assets.

Yes, one of the unique features of the Celo network is its gas currency flexibility. Users can pay for transaction fees directly using cEUR. This eliminates the common barrier in many blockchain ecosystems where users must hold a native utility token just to transfer their stablecoins. This mobile-friendly approach simplifies the user experience, particularly for those using cEUR for everyday payments and peer-to-peer transfers.

The primary difference lies in the backing and decentralization. While many stablecoins are fiat-backed—meaning they are centralized and depend on Euros held in traditional bank accounts—cEUR is algorithmic and crypto-backed. It utilizes the decentralized Mento Protocol and a transparent reserve of on-chain assets. This makes cEUR highly accessible and transparent, as the collateralization levels can be verified directly on the blockchain without relying on centralized bank audits.

You can acquire cEUR through major trading platforms like LBank or via decentralized exchanges within the Celo ecosystem. For storage and daily use, cEUR is compatible with a variety of mobile-first wallets and industry-standard hardware or software wallets. A standout feature of the network is the ability to map your wallet address to your phone number, allowing you to send cEUR to contacts as easily as sending a text message.

Celo’s transition to becoming an Ethereum Layer 2 is a technical upgrade designed to enhance security and tap into the Ethereum ecosystem's liquidity. For cEUR holders, no action is required. Your tokens will remain the same and continue to function as usual. The migration is intended to provide a more robust infrastructure while maintaining the low fees and mobile-first features that define the network, ensuring cEUR remains an efficient medium of exchange.