Mezo and Pendle: Boost Your BTC Vault Yield with uptBTC Markets
Boost your earnings on the Pre-Launch Mezo vault with uptBTC markets on Pendle!
We’re excited to announce the launch of a Pendle yield market for uptBTC. Starting today, users can take their receipt token from the Upshift Pre-Launch Vault and use it on Pendle to amplify their earnings from the Mezo vault.
On May 7, we announced the Upshift Vault — an early access program to get earn Mezo rewards ahead of Mainnet. Through Upshift, users can get exposure to the Mezo ecosystem yield with just a few clicks.
Joey Campbell
Since launch, the pool has attracted over $14m in TVL from early depositors, offering an estimated APY of up to 15%. For a more in-depth look at how the Upshift vault works, see our blog post here on how to deposit, what to expect, and why it is advantageous to be early.
Now, with the Pendle yield market launching for uptBTC, vault depositors have another way to earn and potentially multiply their yield from the Mezo ecosystem rewards.
What is Pendle?
Pendle is a platform for trading yield. You take a yield-bearing asset (like uptBTC), split it into two parts (yield and principal), and trade them separately.
This lets you do a few powerful things, like:
- Lock in fixed returns
- Bet on future yield
- Farm ecosystem points
Depending on a user’s bias and preferences, Pendle offers different ways to take advantage of yield opportunities.
If you want upside and don’t mind risk → Buy YT (Yield Tokens)
YT is a pure play on yield. If the yield goes up, YT pumps. If it goes down, YT bleeds. It’s high risk, high reward.
By purchasing the yield token:
- You’re betting on yield increases
- You want exposure with built-in leverage
- You don’t care about getting your principal back (YT expires at $0 — so you are left with only points/yield)
YT is priced like an option. If the vault yield spikes or the market turns euphoric, YT prints. If not, it expires at zero.
Say you buy one uptBTC yield token. Depending on market pricing (which adjusts in real-time), you could get the equivalent points of 100–1,000 uptBTC deposits (100–1,000x leverage) to the Mezo ecosystem rewards.
If you want more exposure to the ecosystem rewards (mats, Velar, Zerolend, and Upshift points) for the Upshift Mezo vault, then the yield token is your play.
If you want a guaranteed return → Buy PT (Principal Tokens)
PT is the safe side of the trade. It’s just the principal, with no exposure to yield after purchase.
- You know what you’re getting back at maturity
- You want to lock in a fixed return
- You might reuse PT elsewhere in DeFi
You can buy PT at a discount today and redeem it for full value later. This is advantageous for people who want to earn a higher fixed yield without worrying about the points associated with it.
You want balanced exposure + points → Provide Liquidity to Liquidity Pools
Providing liquidity (LPing) lets you earn fees, points, and yield — all while maintaining a more neutral market position. Unlike traditional DEXs or AMMs, Pendle simplifies the process: you only need to deposit one asset. Pendle takes care of the rest by automatically allocating it across the liquidity pool on the backend.
- You want passive exposure to both PT and YT
- You’re farming Pendle/partner points
- You’re fine with some volatility, but don’t want to pick sides
Liquidity providing (LPing) is how most people farm on Pendle. You can enter or exit at any time, and you get exposure to both the underlying yield and the points. It is a simple way to stack additional yield on your uptBTC tokens.
Why do this with uptBTC?
Upshift vaults already make BTC productive. Pendle lets you take it one step further and gives you tools to amplify your exposure, whatever your bias.
You deposit BTC → get uptBTC → and now you can use your Bitcoin to trade, speculate, or farm in ways that didn’t exist before. Here’s how to get started with your uptBTC:
- Head to pendle.finance
- Find and select the “uptBTC” market
- The current implied yield for uptBTC (shown in the PT market) is 3.5%, the highest of any BTC market on Pendle
- Boost your yield through PT, YT, or LP
The new Upshift vault is currently the only way to earn Mainnet mats, Mezo’s native rewards, giving a significant advantage to those who amplify their earnings on Pendle. These differ from pre-Mainnet mats that early users received before launch: Mainnet mats will have a significantly lower total supply, making this pool uniquely valuable for anyone looking to accumulate them early.
At current rates, 100,000 mats are distributed daily through this pool, a significant slice of a much smaller pie compared to the premainnet mats.
The earlier you deposit in the Upshift vault and get active in the Pendle markets, the better.
Mezo is Coming. Get Ready to Borrow.
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Mezo makes Bitcoin work like money. Now, let Mezo work for you.
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