Maren Finance
Spend Bitcoin. Never sell it. A money app for Bitcoin, built on Mezo.
Maren is a money app for Bitcoin, built on Mezo. Deposit Bitcoin, borrow
MUSD against it from as little as 0.001 BTC, and spend it: pay a @name, send a money link,
request money, and put idle MUSD to work. Your Bitcoin stays yours the whole time, and when you
repay you get all of it back.
It is built mobile-first. The iOS app is the headline product; a web app runs the same screens against the same contracts. Both are built for Mezo and deployed nowhere else.
Maren is pre-audit and lives on Mezo testnet only. Every contract runs on Mezo matsnet
(chain 31611), and its mainnet addresses are all zeroes because Maren is not on mainnet: a
third-party audit is the deliberate gate. Do not use Maren with funds you cannot afford to
lose. The gasless relayer is hosted and sponsoring transactions on matsnet, but a BTC collateral
deposit carries native value and can never be relayed, so
your first deposit costs BTC gas.
Why Maren
Mezo already runs the hard part: a live, audited engine where BTC mints a dollar. What it does
not have is a consumer door. The protocol requires a 2,000 MUSD minimum loan (about $3,000 of BTC
to open responsibly), every action costs BTC gas, and once you hold MUSD there is almost nowhere
to spend it. On-chain, MUSD is a DeFi-internal asset. Read on Mezo mainnet on 2026-09-07,
getEntireSystemDebt() was 1.07M against a 30.55M supply — about 3.5% of the token was created
by user borrowing, across fewer than thirty troves.
Maren's edge is not cheaper collateral. It is no minimum loan size at all. You can borrow $25 against $77 of Bitcoin, which the protocol itself cannot do. Whether that demand exists is unproven, and we treat it as a bet, not a certainty.
Where we're building toward
Mobile-first Bitcoin spending, shipped in the order that keeps user funds safe:
Five source-verified contracts on matsnet, and the iOS app in open TestFlight beta reading and writing live against them. The gasless relayer is hosted. The web client is built and runs locally but is switched off in production during the beta. A real user has borrowed through the app.
The iOS app goes to a small beta cohort on matsnet, and the gasless relayer gets hosted so users stop paying gas after their first deposit.
An independent audit of the two contracts that carry risk, with findings and remediations published. This is the gate to mainnet.
Mainnet launch with a hard-capped pooled vault. The cap rises only as the position proves out.
The full trajectory, with the honest state of each phase, is on the Roadmap.
What is real today
Five source-verified contracts on Mezo testnet 31611. Borrow, repay, names, payments,
requests, and Earn all run against the real MUSD protocol.
The borrow path has executed on-chain from the app — 2,110.72 MUSD drawn through the pooled
trove across 3 accounts, all of them ours or beta testers'. No external user has borrowed yet;
that is what the TestFlight beta is for. The pooled trove is live inside Mezo's own
TroveManager. Every claim carries a transaction hash.
No mainnet deployment, no paid audit, and the relayer is not hosted. Each is stated on the page that depends on it, not buried.
What Maren is not
Not a claim of pent-up demand
We do not argue that thousands of idle MUSD holders are waiting to borrow. Borrowing on Mezo is barely used and whale-dominated. Maren is a demand-creation bet on a small, early chain, and the honest evidence for it is Mezo's off-chain community, not any on-chain count.
Not zero gas, yet
The gasless path uses an ERC-2771 relayer that is built and fully tested but not hosted. Until it is live, you pay BTC gas. Even once it is live, the first deposit always costs gas by design. See Gasless.
Not a savings account
Earn is an ERC-4626 wrapper over the MUSD Stability Pool. Its returns come from real liquidation gains, which are lumpy. Maren shows trailing realised yield and never advertises a forward APY, because there is no rate to guarantee.
Where to go next
Connect on matsnet, deposit BTC, borrow MUSD, and spend it, in a few minutes.
Where Maren is heading, phase by phase, with the honest state of each.
The pooled model that removes the minimum loan, its wedge, and the risk it carries.
Shares, the gasless relayer, preflight, and the redemption splitter, in depth.
What can lose user funds, stated plainly, and the adversarial audits run so far.
Run Maren locally, and check every address and the live pooled trove yourself.