Mezo mainnet launch provides bitcoin holders more ways to put it to work
Mezo Network Overview - June 3, 2025
Welcome back to the monthly Mezo Network Overview. Every month, we’re diving into the Mezo ecosystem developments to help you get up to speed on the network’s latest updates, metrics, ecosystem developments and more. All in one place.
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Mezo Metrics
Bitcoin deposited: 286
MUSD circulating supply: $102.2M
The metrics are accurate at the time of publication.
The Growing Bitcoin DeFi Landscape
Since its inception, bitcoin has been seen to most as a store of value. However, recently, there has been an interest to expand bitcoin’s role in decentralized finance (DeFi). Outlets like Mezo provide tools to help Bitcoiners retain their holdings, while tapping into DeFi’s flexibility.
DeFi use cases such as lending, borrowing and yield generation without compromising ownership are just some of the ways bitcoin can be put to work. This challenges the notion that bitcoin is solely a long-term store of value.
The rise in the popularity of Bitcoin DeFi (BTCfi) in the past year has attracted a growing user base and a number of protocols. Unlike traditional finance, where bitcoin is often required to be sold in order to access liquidity, DeFi platforms enable users to borrow against their bitcoin. For instance, the TVL in the BTCfi sector has grown significantly, through protocols like Mezo managing millions in assets, according to its blog article. User engagement on Mezo has also grown to more than 2 million transactions on its testnet.
Now with mainnet live, Mezo is opening up its protocol to a bigger audience and in turn, these metrics can continue to scale.
How Mezo’s Mainnet Expands The Ecosystem
Last week, Mezo launched its mainnet along with MUSD, the network’s stablecoin that is fully backed by bitcoin. Rewinding to its testnet, Mezo recorded $400 million in total deposits and $2 billion in MUSD borrowed. In addition, Mezo had its contracted audited to ensure its proof-of-reserves are secure and transparently visible to anyone onchain.
As part of Mezo’s mainnet launch, it automatically bridged over $50 million from its testnet and facilitated $2 billion in MUSD borrowed. This means users could lock their bitcoin via the Mezo Borrow system in order to mint MUSD and receive fixed rates as low as 1%. In turn, users have dollar-like spending power for everyday purchases, like gift cards or Ledger devices via the Mezo Market, amongst other deliverables.
Since Mezo is compatible with the Ethereum Virtual Machine (EVM), it opens the door for potential developers and users since the EVM is one of the most common frameworks used.
Mezo’s framework also focuses on lending opportunities to put bitcoin to work, while maintaining the asset’s potential upside. Through a partnership with Upshift’s automated vaults, users can deposit bitcoin to earn yield through MUSD. Traders can then use MUSD as collateral for DeFi capabilities like trading systems, lending markets or payment solutions.
For the rest of 2025, Mezo’s mission is to build a self-reinforcing bitcoin economy, where DeFi can deepen liquidity in a decentralized way. The team plans to expand MUSD’s reach through various partnerships with protocols like Velar, Zerolend and BitFi, Vaish Puri, a senior research writer at Thesis (Mezo developer) wrote in a blog article.
“For most Bitcoiners, the asset that was meant to empower them became one they had to part with just to access liquidity,” Puri wrote. “That changes now.”
Get active in the network
Want to dive deeper into the Mezo ecosystem?
Read details about the recent Mezo mainnet upgrade and its performance changes
ICYMI: Mezo Network was live on X at Bitcoin 2025 in Las Vegas in celebration of its mainnet launch
Deposit bitcoin to Upshift’s BTC Vault and earn yield on your holdings, as well as ecosystem rewards
Want to get your hands on Mezo swag? Check out Mezo Market
Stay tuned for the first Mezo x Token Relations webinar to dive into the mainnet launch, details to come soon
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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.