Mezo / mezo-monorepo

Mezo is a Bitcoin-centric platform designed to enhance Bitcoin’s utility through seamless borrowing, spending, and earning. Bitcoin has changed how people think about money, control, security, and transparency. Bitcoin excels as a store of value, but it currently lacks the tools to make it easily usable in everyday financial activities. Mezo bridges this gap by creating a Bitcoin-native ecosystem that transforms BTC from a static asset into a dynamic financial tool.

MUSD is a permissionless stablecoin 100% backed by Bitcoin reserves and designed to maintain a 1:1 peg with the U.S. dollar. It is the native stablecoin on Mezo, accessible via Mezo’s ‘Borrow’ feature or decentralized exchanges on Mezo Network, a chain with Bitcoin as the native asset.

Anyone can mint MUSD by depositing BTC into Mezo borrow, thus creating a loan position. Bitcoin collateral for MUSD positions is publicly verifiable onchain, and proof-of-reserves are viewable 24-7. Users can close their MUSD positions by returning the borrowed MUSD and accumulated interest to receive their initial Bitcoin collateral.

You can learn more at https://mezo.org/docs/users/musd

Prize distribution and scoring

• Total Prize Pool: $50,000

• Scoring described in the competition scoring page

• Findings Severities described in detail on our docs page

Documentation

• musd README
• musd docs
• mezod docs

Scope

• MUSD

  • Repository: https://github.com/mezo-org/musd
  • Commit: f3664c37316f9e59f8da4048fa1537f22a688d0b
  • Files:
    • Everything in /solidity/contracts

• Mezod

  • Repository: https://github.com/mezo-org/mezod
  • Commit: 264808fcff2fc8ffdb417fe96fada69cec4987b1
  • Files:
    • All GO packages

Build Instructions

• MUSD:
  • Build instructions can be found in the README.
• Mezod:
  • Local build instructions are in docs/development.md

Basic POC Test

• Mandatory POC applies for for mUSD
  • Example test for the borrower operations contract that tests various user actions like opening troves, adjusting, etc can be found here
• POC upon request applies for mezod
  • Example system tests can be found here

Out of scope

• MUSD:
  • Economic concerns around the PCV.
  • Precision losses around the sum of trove interest being slightly less than the total system interest.
  • Refinancing does not properly update sorted troves, and breaks trove ordering.
• Automated findings by LightChaser
  • https://gist.github.com/ChaseTheLight01/57846bab5bc859596d8b98d6966c36b6

Contact Us

For any issues or concerns regarding this competition, please reach out to the Cantina core team through the Cantina Discord.