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



# Mento Philippine Peso (PHPm)

**Peg:** Philippine Peso

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Mento's Celo-native Philippine peso stablecoin uses the shared Mento reserve basket rather than PHP bank deposits, completing Pharos's regional PHP coverage.

PHPm, marketed by Mento as PUSO, is a Celo-based Philippine peso stablecoin with live DefiLlama price and circulating-supply coverage. It uses Mento's oracle-priced swap and reserve architecture rather than a bank-deposit PHP reserve, so the collateral stack is the same mixed Mento reserve basket used across the reserve-backed Mento family. Pharos already tracks other PHP-pegged issuers, making PHPm useful for ecosystem completion and regional coverage. The live reserve feed is shared with the broader Mento reserve dashboard rather than a PHPm-specific {{term:attestation}}attestation{{/term}}.

## 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 PHPm against it; user-set interest rates, Stability Pool liquidations, and Liquity-style redemptions support the PHPm peg, with circuit breakers and Mento reserve transparency on the upstream USDm leg.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| celo | `0x105d4a9306d2e55a71d2eb95b81553ae1dc20d7b` | 18 |

## Live Data

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