Mezo’s Bring Bitcoin Home initiative targets billions of wrapped Bitcoin on Ethereum and offers MEZO token rewards to participants who migrate BTC liquidity back to its Bitcoin-native network. The project allocates up to 2.5% of the total MEZO supply to incentivize early depositors in its pre-deposit vaults. Ethereum-based vaults accept tBTC, cbBTC, WBTC, or USDT, with deposits opening today. At the end of January, assets migrate automatically to Mezo’s Bitcoin-native infrastructure, featuring fixed-rate borrowing, a fully Bitcoin-backed stablecoin, and yield from on-chain activity.
“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. 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 on-chain participation; direct fiat on-ramps for MUSD; and 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 is allocated to Bring Bitcoin Home. Early depositors earn boosted MEZO rewards starting at 5% incentive APR (roughly 7% total APR including base yield), with rewards distributed on a first-come, first-served basis. Key Dates: Today (Jan 12): Vaults open, first deposits around 7% total APR; January 26th: Vaults lock, migration to Mezo begins; March 23rd: Vaults unlock on Mezo, depositors receive MEZO. Pre-deposit vaults are live at comehome.mezo.org. Mezo is the on-chain Bitcoin banking experience controlled by its users, delivering borrowing, lending, and saving through DeFi-native products powered by its Bitcoin-backed stablecoin, MUSD.
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