# Mezo

## One line

Mezo is a decentralized Bitcoin finance application that lets users borrow, earn yield, and hold a stablecoin using Bitcoin as collateral without selling it.

## Segments

Stablecoin, Wallet, NFT, Custody, Market maker, Security & audit

## What we do

Mezo provides a line of credit backed by Bitcoin collateral, allowing users to mint MUSD, a stablecoin 100% backed by Bitcoin reserves and pegged 1:1 to the U.S. dollar. Users can also earn yield on their Bitcoin through vaults and liquidity pools, and manage their portfolio of BTC, MUSD, and other onchain assets from a single interface. Mezo also offers Mezo Prime, an institutional product built in collaboration with Anchorage Digital that provides segregated custody, onchain yield, and fixed-rate BTC-backed lending. The platform is built by Thesis, a team also behind tBTC, Fold, and Taho.

## Find us

- Website: https://mezo.org
- X: https://x.com/mezonetwork

## Recent updates

- seen: 2026-09-23 — Partnering with Aerodrome to become Mezo's primary DeFi liquidity hub on Base, deploying 2.25% of MEZO supply as incentives. · https://t.me/s/mezonetwork
- seen: 2026-09-23 — MUSD is now launching on Base and live on Aerodrome with the MUSD/USDC pool open for deposits. · https://t.me/s/mezonetwork
- seen: 2026-09-23 — Launched MEZO Gauges letting veMEZO holders vote MEZO incentives to MUSD pools on Curve, Uniswap, and Aerodrome. · https://t.me/s/mezonetwork
- seen: 2026-09-23 — Migrated $23 million in Bitcoin assets from Ethereum to Mezo with partners Mellow Protocol and Turtle. · https://t.me/s/mezonetwork
- seen: 2026-09-23 — Launches Mezo Prime for institutional Bitcoin yield and lending with segregated custody · https://mezo.org/for-institutions
- seen: 2026-09-23 — Now available to Anchorage Digital institutional custody clients · https://mezo.org/for-institutions
- seen: 2026-09-23 — Reports $486.7M MUSD Lifetime Volume · https://mezo.org/for-institutions
- seen: 2026-09-23 — Reports $72.4M Total Value Locked · https://mezo.org/for-institutions
- seen: 2026-09-23 — Now issues MUSD, a stablecoin 100% backed by Bitcoin reserves pegged 1:1 to USD. · https://mezo.org/
- 2026-09-23 — Largest protocols on Mezo: Mezo Earn ($70M, Governance Incentives), Mezo Vaults ($7.6M, Yield Aggregator), Tigris Mezo V3 ($5.7M, Dexs), Mezo Borrow ($3.6M, CDP) · https://defillama.com/chain/Mezo
- 2026-09-23 — TVL was $61M 90 days ago · https://defillama.com/chain/Mezo
- 2026-09-23 — TVL was $75M 30 days ago · https://defillama.com/chain/Mezo
- 2026-09-23 — TVL $80M on Mezo, per DefiLlama · https://defillama.com/chain/Mezo
- seen: 2026-09-20 — Now supports borrowing mUSDC against Bitcoin at 86% LTV via Morpho. · https://t.me/s/mezonetwork
- 2026-09-20 — TVL $75M · https://defillama.com/chain/Mezo
- 2026-09-11 — Merkl handles distribution to Curve and Uniswap, with direct incentives going to Aerodrome. · https://mezo.org/blog/introducing-mezo-gauges/
- 2026-09-11 — About 200k MEZO per epoch is now allocated by vote rather than by the Foundation. · https://mezo.org/blog/introducing-mezo-gauges/
- 2026-09-11 — veMEZO holders can now direct MEZO incentives to MUSD pools on Curve, Uniswap and Aerodrome. · https://mezo.org/blog/introducing-mezo-gauges/
- 2026-08-10 — Mezo connects Midnight's fixed-term claim markets to Bitcoin collateral and institutions securing it. · https://mezo.org/blog/how-to-build-a-bitcoin-backed-credit-market/
- 2026-08-10 — Offers borrowing against BTC at 1% APR with no banks or selling required. · https://mezo.org/blog/tag/essays/
- 2026-08-10 — Integrates with Morpho Midnight to bring fixed terms and tradable credit to Bitcoin-backed lending. · https://mezo.org/blog/tag/essays/
- 2026-08-10 — Launched Mezo Prime, institutional Bitcoin lending built with Anchorage Digital · https://mezo.org/blog/tag/borrow/
- 2026-08-04 — Launched USDC borrowing against BTC on July 13 through the USDC Lending Vault. · https://mezo.org/blog/mezo-h1-2026/
- 2026-08-04 — MUSD now bridges between Mezo, Ethereum, and Base via Wormhole's native token transfer rails. · https://mezo.org/blog/mezo-h1-2026/
- 2026-08-04 — Bullish deployed 1,000 BTC through Mezo Prime as the anchor customer. · https://mezo.org/blog/mezo-h1-2026/
- 2026-08-04 — Patched an unexploited ERC-20 bridge vulnerability within 24 hours and awarded a $50k bounty · https://mezo.org/blog/tag/ecosystem/
- 2026-08-04 — Mezo Hackathon 2 featured 64 projects from 81 builders across Bitcoin Banking and other tracks · https://mezo.org/blog/tag/ecosystem/
- 2026-08-04 — Now supports borrowing USDC against BTC via the USDC Lending Vault · https://mezo.org/blog/tag/ecosystem/
- 2026-08-04 — Now supports sUSDat live on Mezo for tokenized STRC yield · https://mezo.org/blog/tag/ecosystem/
- 2026-07-20 — USDat and sUSDat launched in 2026 and currently hold a market cap of $108.87m · https://mezo.org/blog/how-to-earn-strc-yield-on-mezo/
- 2026-07-13 — Runs a USDC Lending Vault funding mUSDC loans with depositor yield from borrower interest · https://mezo.org/blog/borrow-usdc-against-your-bitcoin/
- 2026-05-08 — Mezo will distribute 1.75% of total MEZO supply to veAERO voters on MEZO/MUSD over three epochs. · https://mezo.org/blog/tag/earn/
- 2026-05-08 — Mezo MUSD Savings Vault is live, offering sMUSD for protocol fees or gauge staking for MEZO emissions. · https://mezo.org/blog/tag/earn/
- 2026-05-08 — Mezo's liquidity pools and MUSD Savings Vault are live with triple-digit APRs. · https://mezo.org/blog/tag/earn/

## Last updated

last_checked: 2026-09-23 (mezo.org)

state: unclaimed

confirmed: no (drafted from the company's own public sources)

verified: no

Source: https://sindo.io/c/mezo