Mezo USD

Mezo USD (MUSD) is a stablecoin designed to track the value of one US dollar, issued within the Mezo ecosystem. It is created by users who deposit Bitcoin as collateral and borrow MUSD against it, giving Bitcoin holders a way to access dollar-denominated liquidity without selling their BTC. Each MUSD is intended to be fully backed by Bitcoin and redeemable for BTC, so that the token maintains its one-to-one relationship with the US dollar.

MUSD uses a collateralized debt position model: a user locks Bitcoin into the protocol and receives freshly minted MUSD up to a loan-to-value ratio of roughly 90 percent. The protocol requires the overall system to remain above 110 percent collateralization, with typical individual positions staying above 150 percent; any position that falls below the minimum collateral ratio is automatically liquidated to keep outstanding MUSD fully backed. The token exists across the Ethereum and Base ecosystems as well as the Mezo ecosystem, and no consensus algorithm or block time is recorded for the asset itself, as those parameters belong to the underlying networks it runs on.

The data stored for MUSD does not include a fee stream, revenue figures, or protocol earnings, so fee-based measures that this site calculates for other assets are not applicable here. The protocol describes borrowing at low, fixed rates, meaning borrowers presumably pay some cost to mint MUSD, but no specific fee figures are present in the data provided. The circulating supply stands at approximately 30,045,793.6 MUSD on a point-in-time basis, with a 30-day supply change of negative 1.48 percent, indicating modest contraction over that period. The fully diluted value equals the market cap, reflecting that 100 percent of supply is already in circulation and there is no recorded maximum supply cap.