Mezo’s “Bring Bitcoin Home” initiative targets billions of wrapped Bitcoin on Ethereum, offering MEZO token rewards to participants who migrate BTC liquidity back to its home network. 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.
“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.
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. Today (Jan 12): Vaults open. First deposits get ~7% total APR.
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