Bitcoin holders bridge BTC into Mezo, where it can be used as collateral to mint MUSD, a Bitcoin-backed stablecoin, or deployed across DeFi applications. Network activity is paid for in MEZO. Holders can stake MEZO to participate in governance.

Mezo is a Bitcoin-native Layer 2 network built for Bitcoin-denominated finance. It enables users to access liquidity against their Bitcoin holdings via MUSD, a Bitcoin-backed stablecoin, alongside lending and yield products without selling the underlying BTC.

Mezo is built by Thesis, the team behind tBTC, Fold, and Taho. The MEZO token is used for governance and gas on the Mezo network.

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Blockchains (L2)

Mezo

# Circulating market cap Methodology

## Overview

Circulating market cap measures the project’s valuation based on the number of tokens that are currently transferable and tradeable. It is calculated by multiplying the token price with the circulating supply.

Project valuation based on token price times circulating supply.

MezoMEZO

Circulating market cap

Circulating market cap

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