(MEZO) is a Bitcoin-native "onchain Bitcoin banking" platform launched in April 2024 by Thesis, designed to unlock Bitcoin liquidity without selling. Built on Cosmos SDK with EVM compatibility, it enables users to deposit Bitcoin to earn yield and borrow MUSD, a dollar-pegged stablecoin. The MEZO token serves as the ecosystem's coordination and incentive token.

Key Details of Mezo (MEZO)

Purpose: Enables earning yield on Bitcoin and borrowing against it via MUSD, with a "Proof of HODL" consensus mechanism that rewards long-term locking.

Token Utilities: MEZO is used for governance, incentive routing, and boosting rewards for locked BTC positions (up to 5x).

Tokenomics: Fixed total supply of 1 billion tokens.

Token Allocation: 40% Community, 30% Investors, 20% Thesis Team, 10% Foundation.

Network: Built as a customized fork of Evmos on CometBFT.

Transaction Fees: Paid in BTC, strengthening Bitcoin's utility in the ecosystem.

Platform Features:
MUSD: A stablecoin 100% backed by BTC collateral.

veBTC: Yield-bearing locked Bitcoin.
BTC Deposits: Users lock BTC to earn yield from protocol revenue.

Ecosystem: Built as a Bitcoin-native financial protocol aiming to support DeFi activities directly on top of Bitcoin, or as a "Bitcoin side chain" to increase utility.

Project Status & Funding:

Mezo raised $28.5 million in funding rounds.
It operates as a decentralized, non-custodial system.

The project encourages long-term holding via its "Proof of HODL" mode