How to Earn Yield on Bitcoin Through Mezo Pools and Vaults
Mezo's liquidity pools and MUSD Savings Vault are live with triple-digit APRs. Here's what's available, how the yield works, and where to start earning.
Mezo offers you several ways to earn on BTC and stablecoins. You can provide liquidity in pools, deposit MUSD into the Savings Vault, or borrow MUSD against BTC and deploy it into Mezo Earn products. This guide walks through what each option does, how the yield is generated, and how to choose the one that fits your goals.
Live Mezo Pools and Vaults
Head to the Mezo app and you'll see the Pools page. Here's a snapshot of what's currently available:
These are live rates on pools you can deposit into right now.
On the pools page, you can browse every available pool and sort by volume, fees, TVL, or APR. Each pool shows two yield components:
- Fee APR is your cut of actual trading fees generated by the pool. People are swapping through these pools, and you earn a piece of every trade.
- Emissions APR is MEZO token rewards distributed to liquidity providers who stake their LP tokens.
How Mezo Pools Generate Yield
Mezo Earn is a two-sided market between liquidity providers and veBTC voters. When you deposit into a Mezo pool, your yield can come from two sources: trading fees and MEZO emissions.
If you're an LP:
- Deposit assets into a pool (e.g., BTC + MUSD into the BTC/MUSD pool)
- Receive LP tokens representing your share
- Stake your LP tokens in the pool's gauge
- Earn MEZO emissions proportional to your staked position
If you're a veBTC voter:
- Lock BTC to create a veBTC position
- Vote on which pools receive MEZO emissions each epoch (7 days)
- Earn the trading fees generated by the pools you vote for
Liquidity providers supply capital to pools and earn MEZO token rewards in return. veBTC voters decide which pools receive those emissions each epoch and collect the trading fees those pools generate. More capital in a pool means more trading volume and more fees for voters. Higher emission allocations to a pool mean more capital flows in. Supply and demand find equilibrium every seven days at the epoch boundary.
This is the core of Mezo Earn. For a step-by-step walkthrough of locking, voting, and earning, check out the Getting Started guide.
For mechanism design, read the Mezo Earn whitepaper.
The MUSD Savings Vault
The MUSD Savings Vault is the easiest way to earn yield on Mezo.
The vault currently offers:
- 29.45% Fee-backed APR from MUSD protocol revenues (loan interest, redemption fees).
- 79.63% Emissions APR from MEZO token rewards directed to the vault by veBTC voters.
This is the best set-and-forget method of earning yield on Mezo.
If you don't have MUSD yet, you can borrow it against your Bitcoin at a 1% fixed annual rate.
As an illustrative example, a user who borrows 10,000 MUSD at a 1% fixed annual rate would incur 100 MUSD in annual borrowing cost. If that borrowed MUSD is deployed into a vault earning 109% APR, the current yield exceeds* the current borrowing cost by a substantial margin.
The vault is live at mezo.org/earn/vaults.
Which Mezo Pool Should You Pick
The right option depends on what you hold and how much volatility or complexity you are comfortable taking on. Different pools serve different risk profiles and goals:
- Stable pairs (MUSD/mUSDT, mUSDC/MUSD) have lower volatility and tighter spreads. Good for earning yield on stablecoins without directional exposure. If you've borrowed MUSD and want to keep it productive while you decide what to spend it on, start here.
- BTC pairs (BTC/MUSD) have higher APRs, but you're exposed to BTC price movements relative to MUSD. Impermanent loss is real. If you're already long BTC and hold MUSD, this pool earns on both sides of your portfolio.
- MEZO pairs (BTC/MEZO) have the highest volatility. For users who are bullish on MEZO and want to compound exposure while providing liquidity.If you are choosing between them, start with the assets you already hold and work backward from the level of risk you actually want.
Browse the pools page, compare the numbers, and pick what matches your conviction.
How to Start Earning on Mezo
👉 Browse Pools
👉 Deposit in the MUSD Savings Vault
👉 Borrow MUSD at 1% fixed
New to Mezo? Start with the Getting Started guide.
*Actual outcomes will depend on the persistence of vault yields and the risks associated with borrowing against BTC.
Rates shown are current as of the week of April 14, 2026, and are subject to change based on pool activity, TVL, and MEZO emissions. Past performance is not indicative of future results.
This is a limited-time promotional period. The terms, duration, and availability may be modified or discontinued at Mezo's sole discretion without prior notice. The information presented is for informational purposes only and may not be complete. This document does not constitute professional, financial, or investment advice. Participation involves risks and may result in the total loss of any contribution. Participants must conduct their own independent investigation and seek advice from legal, tax, financial, and technical advisors.