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The Bitcoin lending protocol will allocate 2.25% of its token supply to Aerodrome users as it looks to expand activity for its token and stablecoin.Mezo, a Bitcoin-native lending protocol, will collaborate with Aerodrome Finance to support trading activity for its token and Bitcoin-backed stablecoin on the Base network, as projects look for ways to bring more financial use cases to Bitcoin.
In a Thursday announcement, Mezo said it will allocate 2.25% of its MEZO token supply to Aerodrome’s vote-escrow participants — users who lock tokens in exchange for governance rights and rewards. The program is designed to encourage those users to direct funds into MEZO trading pairs, increasing activity around the token and its US dollar-backed stablecoin, MUSD.The partnership links Base-based traders with a newer group of Bitcoin-focused applications, as developers experiment with adapting existing DeFi models to Bitcoin.) holdings, said it has issued more than 2,000 loans and helped move roughly $23 million in Bitcoin-denominated assets from Ethereum.The move gives Mezo access to a large and active DeFi user base on the Base network. Bitcoin-native applications often struggle to attract enough trading activity. On Base, infrastructure such as Aerodrome can help support more consistent trading in new tokens and stablecoins.Bitcoin is increasingly being positioned as a base layer for decentralized finance, driven in part by increasing institutional participation and long-term holders seeking ways to generate returns on idle assets.with early participation from BitGo, Bullish and FalconX, among others. The platform enables users to earn yield on Bitcoin through onchain lending and borrowing.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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