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 Redemption
XOFm 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 | |||||
|---|---|---|---|---|---|---|
| 0.00% | >-0.0001% | >-0.0001% | -72.34% | 5.3m |