Mezo’s “Bring Bitcoin Home” initiative targets billions in wrapped Bitcoin on Ethereum, offering MEZO token rewards to participants who migrate BTC liquidity back to its home network.
Mezo, a Bitcoin-native financial infrastructure protocol, announced the allocation of up to 2.5% of the total MEZO token supply to incentivize early depositors in its “Bring Bitcoin Home” pre-deposit vaults. The vaults target the more than $11 billion in wrapped Bitcoin currently sitting on Ethereum DeFi.
Starting today, users can deposit tBTC, cbBTC, WBTC, or USDT into Ethereum-based vaults. At the end of January, assets migrate automatically to Mezo’s Bitcoin-native infrastructure—fixed-rate borrowing, a fully Bitcoin-backed stablecoin, and yield from real onchain activity.
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“Sixteen years ago today, Hal Finney ran the second Bitcoin node and began articulating a vision of Bitcoin-backed banks—an entire financial system built on hard money,” said Matt Luongo, CEO of Thesis, the venture studio behind Mezo. “Mezo is a Bitcoin-first system designed to support borrowing, saving, and yield directly against BTC, without custodians, wrappers, or variable-rate markets.”
Since its inception, the protocol has launched:
- Fixed-rate Bitcoin-backed loans on mainnet
- A fully Bitcoin-backed stablecoin, MUSD
- BTC-denominated transaction fees
- Yield generated from real Bitcoin activity
- Bitcoin-native incentive mechanics that reward onchain participation
- Direct fiat on-ramps for MUSD
- No reliance on wrapped token custodians or variable-rate markets
The system reflects early Bitcoin design principles, including concepts proposed by Hal Finney around Bitcoin-backed banking and redeemable digital currency.
Reward Structure
Up to 2.5% of the total MEZO supply has been allocated to Bring Bitcoin Home. Early depositors earn boosted MEZO rewards starting at 5% incentive APR (~7% estimated total APR including base yield). Rewards are distributed on a first-come, first-served basis.
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