Earn Bitcoin Yield on Mezo: Swaps, Vaults, and New Mezo Rewards Are Live

Mezo's journey began with a simple, powerful idea: to let you use your Bitcoin as a line of credit, without ever needing to sell. That core promise remains, but today, that journey expands.

We are thrilled to announce that we have expanded the pathways for your capital. Beyond borrowing, you can now put your assets to work through Swaps and the high-yield MUSD Vault. This is the next chapter in the circular Bitcoin economy.

To celebrate this expansion, we’re rewarding you with mats every step of the way.

New Mezo Rewards Are Now Live on Mainnet

To celebrate the launch of Swaps and the MUSD Vault, Mezo is introducing a slate of new mats incentives. Whether you repay your loan, swap for other assets, or put your capital to work, you'll be earning mats every step of the way.

Earn mats for Every Onchain Action

Here’s how you can start earning mats right now:

• Make Your First Swap
  • Launch Week Special: Earn 500 mats for your first swap. This offer is capped at the first 10,000 wallets. After the first week, the reward for a first swap will be 100 mats.
  • Requirements: To qualify, your wallet must contain at least $20 USD equivalent in bridged assets, and the swap amount must be at least 5 MUSD.
• Become a Swap Master (Launch Week Bonuses)
  • Rack up your cumulative swap volume during the campaign week to claim a one-off bonus for your wallet. These are first-come, first-served.
  • Sea Swapper: 1,000 mats
    • How: Achieve a cumulative swap volume between 500 and 1,000 MUSD.
    • Limit: Capped at the first 2,000 qualifying wallets.
  • Seismic Swapper: 2,500 mats
    • How: Achieve a cumulative swap volume greater than 1,000 MUSD.
    • Limit: Capped at the first 1,000 qualifying wallets.
• Mezo OG Booster: +50% on All Rewards
  • As a special thank you to our earliest supporters, if you deposited into Mezo before the mainnet release and have bridged your assets, you will automatically get a 50% boost for every reward mentioned above.

Note: mats rewards appear in your wallet after the underlying transaction has been verified. This usually takes a handful of blocks.

The MUSD Vault: A Bitcoin-Backed Savings Account That Pays

The second pillar of your earning strategy is the MUSD Vault, a high-performance savings account for your Bitcoin. Think of it as the ultimate "set-it-and-forget-it" strategy for passive growth. Deposit your MUSD with a single click and let your capital work for you.

Managed by August, a DeFi prime brokerage handling over $7 billion in monthly volume, the vault gives you access to sophisticated, institutional-grade strategies without the complexity. But this is far more than a simple savings account. Depositing into the MUSD Vault unlocks multiple layers of rewards:

• Base APY from the underlying strategy
• tBTC, growing your Bitcoin exposure
• Upshift Points, plugged into our DeFi partner network
• mats, earned from Mezo and Upshift

It’s stability, upside, and protocol-native rewards—all compounding, all at once. And it takes a single click to start.

How to Earn tBTC Yield on Mezo (Updated)

FAQs For Rewards Distribution

How were the rewards calculated?

The $80k worth of tBTC (calculated at the July 16th close price of $118,738, totaling ~0.674 BTC) was awarded in two distinct pools:

• 80% (~0.539 BTC) to qualifying vault depositors based on a time-weighted model (how much deposited and how early)
• 20% (~0.135 BTC) split equally among vault depositors who had also minted MUSD at any point in time

Am I eligible?

For the 80% Vault Staker's Reward: If you held the vault token (upMUSD) in your wallet as of August 31st, 2025 (end of campaign), then you are eligible. Wallets with a zero upMUSD balance as of August 31st are not eligible.

For the 20% Minter's Bonus: If you held upMUSD as of August 31st AND you had minted MUSD at any point in time (not just during the campaign), then you are also eligible for an equal share of the minter's bonus pool.

If I withdrew my deposit before August 31st, am I eligible?

No. Only wallets that held upMUSD tokens as of the August 31st snapshot were eligible for rewards.

How can I claim?

Head to merkl.xyz, connect your wallet, and click claim. Make sure you're connected to Mezo, as rewards are distributed on Mezo.

I had upMUSD in my wallet on August 31st but don't see any rewards available to claim. What should I do?

Open a ticket in the Mezo Discord and provide your wallet address along with proof of your upMUSD balance on August 31st (transaction hash or screenshot).

How do I earn an additional $500 MUSD?

If you participated in the campaign and claimed your tBTC rewards, you can earn an additional $500 MUSD by sharing your rewards claim. Complete this form to enter.

Get ready for our biggest campaign yet! We're partnering with Threshold Network to give away $80,000 in tBTC.

The tBTC rewards are split into two distinct pools. Here’s exactly how each one works:

1. The Vault Staker's Reward (80% of the Pool)

The majority of the tBTC rewards are distributed using a time-weighted model. This larger pool rewards you based on how much you deposit and how early you do it.

How to Qualify:

1. Deposit: Deposit any amount of MUSD into the Vault.
2. Hold to the End: Once you deposit your funds, they must remain in the vault until the end of the campaign (August 31st).

At the end of the campaign, we add up all the points earned by all users. Your final tBTC reward from this pool is proportional to your share of the total points.

2. The Minter's Bonus (20% of the Pool)

This is a flat bonus designed to reward MUSD minters who also participated in the vault. The rewards from this pool are split equally among all qualifiers.

How to Qualify:

1. Qualify for the 80% pool: You must be eligible for the Vault Staker's Reward (held upMUSD on August 31st).
2. Have minted MUSD: You must have minted MUSD at any point in time (not necessarily during the campaign period).

If you meet both criteria, you receive an equal share of the 20% bonus pool alongside your time-weighted vault rewards.

Note: Mezo OG Booster only applies to mats bonus, not the tBTC calculation

A Real-World Example: How Mezo Powers Your Life

Theory is one thing, but real-world results are what matter. Let's break down the recent journey of a community member who put the Mezo economic loop to the ultimate test.

• Step 1: The Collateral: This community member started with $8,500 worth of BTC in their wallet. This was their core asset, which they wanted to keep.
• Step 2: Accessing Liquidity: They then used that BTC to borrow 1,800 MUSD on Mezo. This immediately gave them cash-equivalent liquidity without selling a single satoshi of their Bitcoin.
• Step 3: Real-World Utility: They used 400 of their borrowed MUSD to buy gift cards and pay for their family's groceries. Their Bitcoin, while still in their possession, directly funded a real-world necessity.

The Result: Even after spending $400 on groceries, this user's financial position improved. When they checked their position, their initial $8,500 worth of BTC appreciated to over $9,257. If they were to close out their entire loan at that moment, their net position would be $8,654 plus the “free” groceries they had already enjoyed.

They didn't sell their Bitcoin. They lived off it while growing their net worth. This is the circular Bitcoin economy in action.

Get Started Today

The system is live. Swaps and the Vault are all earning. Join us on this journey as we build the circular Bitcoin economy in public, and get rewarded with mats along the way!

→ Deposit into the Mezo Portal
→ Explore Swaps and Vaults

*References to expected yields, APY, or other performance metrics are based on current performance and protocol parameters. Actual returns may be subject to change due to market conditions, protocol governance decisions, and other risk factors. Users are responsible for carrying out their own due diligence before choosing a Vault, and for monitoring any changes made to the Vault over time, particularly those subject to a time lock.