Welcome to the monthly Mezo Network Overview. Every month, we dive deep into the Mezo ecosystem to help you get up to speed on the network’s latest updates, metrics, developments and more. All in one place.
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Mezo Metrics
Total value locked (TVL): $47M (-14.8%)
MUSD TVL: $2.6M (-13.3%)
Users (total addresses): 42.6K (+1.5%)
Mezo volume (30 day): $11.5M (+6.5%)
The metrics are accurate at the time of publication. The percentage change is over a 30-day period.
What Caught Our Eye This Month
Mezo has updated its mainnet to add: multiple actions within a single transaction; support for native bitcoin deposits to negate manual delays; and higher oracle update frequency for real-time price feeds.
The Supernormal Foundation introduced REKT, a token that lets users recover funds, or third parties to buy and burn tokens over time, allowing users impacted by the Velar exploit to either exit immediately or maintain exposure.
Inside The Network
⚡️ What we’re watching: Mezo Network launched a Lunar New Year-themed Red Envelope campaign as part of its MEZO token airdrop. This campaign follows Phase I, which distributed roughly 2% of total MEZO supply.
Participants receive digital envelopes that can be unlocked, upgraded, and shared. Final allocations are tied to onchain usage ahead of phase two of MEZO’s token airdrop event.
⚡️ Why it matters: Rather than following the well-trodden path of distributing tokens based solely on wallet snapshots, Mezo’s Red Envelope campaign bases rewards on a user’s activity on the protocol.
Users can then level up their envelopes by performing onchain actions such as borrowing or depositing MUSD, locking bitcoin, voting on governance proposals, providing liquidity, swapping between tokens, and using yield vaults.
Mezo also has a referral system in place, allowing users to give others red envelopes, in an attempt to onboard more users to the network and earn referral rewards themselves. The campaign also features a gamified mechanic where users are given a randomized daily reward.
By requiring users to engage with the network in a gamified manner, the campaign is designed to reward users who are actively contributing to the network.
⚡️ The bigger picture: Snapshot-based airdrops often reward short-term participation and provide limited insight into whether users meaningfully engage with a protocol.
However, Mezo’s Red Envelope campaign ties token outcomes to repeated onchain actions, offering a way to distinguish passive wallets from active contributors. If effective, this approach could result in a higher-quality participant set during token airdrops.
Expanding The Ecosystem
Curve Finance collaborated with Origin Protocol to create a stablecoin pair of MUSD and OUSD to tap yield opportunities
Mezo is hosting a six-week hackathon centered around apps that integrate its MUSD stablecoin
Mezo explains how it routes protocol revenue (loan interest, swap fees, bridging fees) to provide yield for its holders
The BitcoinFi Accelerator has accepted seven new bitcoin projects, which will receive funding and mentorship
Get active in the network
Want to dive deeper into the Mezo ecosystem?
Check out Mezo campaigns and complete quests to earn rewards
Receive fees and emissions by locking bitcoin through Mezo’s platform
Participate in Mezo gauge votes to determine where trading fees and incentives accrue
Borrow MUSD against bitcoin at a fixed rate of 1% without having to sell your holdings
Catch you next month.
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.