---
title: "Mento Kenyan Shilling (KESm) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/kesm-mento/"
description: "Build-time stablecoin profile for Mento Kenyan Shilling (KESm). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Mento Kenyan Shilling (KESm)

**Peg:** Other

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

First Kenyan shilling stable in Pharos; runs on Celo via Mento's reserve-backed FX mechanism, grouped under OTHER until KES has a dedicated peg category. KESm is the first Kenyan shilling-denominated stable asset in Pharos, admitted through DefiLlama's price and circulating-supply path. The token runs on Celo and uses the same Mento reserve-backed FX mechanism as the newer Mento local-currency suite. Because KES does not yet have a dedicated Pharos peg category, the asset is grouped under OTHER. The reserve risk remains driven by the Mento mix, especially CELO exposure and upstream centralized stablecoins. Mechanically KESm is a {{term:cdp}}CDP{{/term}}-style Mento FX stablecoin with {{term:overcollateralization}}overcollateralization{{/term}} against the multi-asset reserve and {{term:redemption}}redemption{{/term}} via FPMM swaps at oracle-driven rates.

## Collateral

Mento V3 Liquity-v2-style CDPs collateralized by USDm; USDm in turn is backed by the diversified Mento Reserve mix (sUSDS, CELO, EURC, USDC, USDT, axlEUROC, stETH, and smaller positions exposed via the Mento reserve dashboard).

## Peg Mechanism

Mento V3 oracle-priced FX stablecoin minted by depositing USDm as CDP collateral and borrowing KESm against it; user-set interest rates, Stability Pool liquidations, and Liquity-style redemptions support the KESm peg, with circuit breakers and Mento reserve transparency on the upstream USDm leg.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| celo | `0x456a3d042c0dbd3db53d5489e98dfb038553b0d0` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/kesm-mento.