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 collateral backs the loan and can be liquidated
if its value falls too far. Repay the debt to withdraw the remaining collateral.
Use the web app with a browser wallet on Mezo testnet, or join the iOS TestFlight beta. Payment-link claims also work in the browser. Borrowing depends on both your collateral and available capacity in the shared pool; a healthy personal position does not guarantee that the pool can extend another loan.
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. Use testnet funds only. The gasless relayer is hosted and sponsoring
transactions on matsnet, but a BTC collateral deposit carries native value and cannot be relayed.
BTC deposits, link creation and approvals can require your own 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.
Verify installation and restoration on the distributed iOS build, complete the transaction loop, and gather independent tester feedback. Exercise relayer recovery across restarts and confirm the deployed contracts match the reviewed release.
An independent audit including MarenVault, MarenEarn and MarenRelayHub, 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 — 3,604.72 MUSD drawn through the pooled
trove across 7 borrowing accounts, read live on matsnet on 2026-09-23, 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 or independent audit. The relayer is hosted on testnet; mainnet remains gated on audit and operational readiness.
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.
Sponsorship depends on the action
The ERC-2771 relayer is hosted on testnet and sponsors eligible calls while available. Deposits, approvals when needed, and link creation still require BTC gas. 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.