Metamask USD

Mezo turns bitcoin into spendable dollars without a sale. MUSD is the dollar of Mezo, a bitcoin-centric finance network built by the venture studio Thesis. It is a crypto-collateralized stablecoin backed entirely by bitcoin: a user locks BTC, opens a position called a trove, and borrows MUSD against as much as 90 percent of the collateral at a fixed rate that Mezo advertises from around one percent. Redemption is protocol-mechanical, not a company desk, and the underlying bitcoin is held through tBTC's decentralized custody, built by the same Thesis team. The peg rests on over-collateralization, liquidation of unhealthy troves and arbitrage. MUSD lives on Ethereum and the Mezo chain, letting holders spend dollars while keeping upside exposure to the bitcoin still locked as collateral. It targets bitcoiners who want liquidity without triggering a taxable sale.