Mezo USD
MUSD Rank #717Price chart
What is Mezo USD?
Borrowing against Bitcoin
Users create MUSD by opening a debt position and depositing Bitcoin collateral. Mezo's integration uses tBTC to bring Bitcoin-backed value into its onchain lending environment. The protocol is based on a collateralised debt model derived from Threshold USD and Liquity. Each loan must hold more collateral value than the MUSD debt it creates. The normal minimum collateral ratio is one hundred and ten percent.
Stability mechanisms
Positions falling below the minimum ratio can be liquidated. A stability pool uses deposited MUSD to offset liquidated debt and receives the associated collateral. If that pool cannot absorb a liquidation, debt and collateral can be redistributed to other positions. MUSD holders can redeem tokens against a dollar-equivalent amount of Bitcoin collateral, subject to protocol fees. Redemptions reduce the debt and collateral of selected loans, including loans that remain sufficiently collateralised.
Monetary role
The token provides dollar-denominated liquidity within Mezo's payments and financial applications. Its backing is Bitcoin collateral rather than dollars held in a bank account. New supply follows borrowing activity, while repayments and redemptions remove debt-linked tokens. Loans use fixed interest terms that can be refinanced under the protocol's rules. MUSD is therefore distinct from both BTC and Mezo's other ecosystem tokens.
Where to trade MUSD
4 exchanges · top 10
Live spot quotes from connected exchanges
MUSD funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.