Argues stablecoin payments in emerging markets are crypto's clearest unsolved use case, with Celo leading in active stablecoin addresses and Mento backing local currency stablecoins with a $130M reserve. Celo's move to an EigenDA-powered rollup could add scale ahead of the MENTO launch.
Key claims
Celo leads networks in active addresses using stablecoins
Mento reserve of $130M holds DAI, USDC, USDT, BTC, ETH and CELO
Celo is transitioning to a hyperscale rollup powered by EigenDA
Stablecoin payments are the most obvious crypto use case that remains unsolved at global scale.
Especially in emerging markets, public blockchains could provide the financial infrastructure that local economies need to flourish.
That's why @Celo has recently taken the lead as the network with the most active addresses using stablecoins.
A major driver behind this growth on Celo is @MentoLabs, a protocol that enables local currency based stablecoins.
While offering an entire suite of stable assets already, including $cEUR or $cREAL, the flagship asset is $cUSD.
Backed by a $130M reserve composed of various assets incl. $DAI, $USDC, $USDT, $BTC, $ETH, $CELO & more, the long-term price stability of all Mento assets remains ensured at all times.
This is the kind of stuff that really bears the potential to onboard billions of users anon.
And @MentoLabs is among the leading innovators in the space, while being uniquely well positioned on @Celo too.
With the imminent transition to a hyperscale rollup powered by @eigen_da, Celo's capacity to support payments at a global scale will be scaled even further, and ecosystem growth is likely to pick up.
As market sentiment improves, this puts @MentoLabs, which is set to launch $MENTO (incl. airdrop) soon, in a very interesting position.
DYOR anon.
More info on @MentoLabs and the upcoming airdrop in my post below. ⤵️
x.com/zerokn0wledge_/status/1800946474726953135
QUOTING @MentoLabs Who’s hyped for the 1st $MENTO token airdrop? 🌐
The Mento Governance Token is live!
With the introduction of the MENTO token, it's time to bring local currency stablecoins to the masses...
Like, RT, & reply “MENTO” to get a secret code in your DM 👀
How to qualify 👇 https:
This piece lays out a thesis on the sector without making a call on the token, so price moves since publication are shown as market context.
Covered in this piece
$CELOCelobullish tone, no call−87%−90% vs BTC
No reliable price feed for $MENTO.
Since then
No follow-up pieces on this subject yet. This is the latest take.
Daily closes in USD from DefiLlama and Yahoo Finance. Only a bullish or bearish thesis is read as a call; explainers, maps and mentions are context. Not financial advice.
