MEZO is the native token of the Mezo chain. In Mezo’s documentation and Mezo Earn whitepaper it is described as a “strategic coordination asset” used to govern parameters, route incentives and fee flows and support emissions within the network’s incentive system (Mezo Earn).

Mezo is positioned around a BTC-collateral and MUSD-borrowing model, where users lock BTC as collateral and borrow MUSD (a bitcoin-backed stablecoin on Mezo). Within that system, MEZO is not described as collateral itself, but as the token used to coordinate incentives and governance.

Based on Mezo’s whitepaper and project materials, MEZO’s main uses are:

• Incentive routing and emissions: MEZO is used within Mezo Earn to route emissions and fee flows and coordinate where incentives go.

• Governance of protocol parameters: the Mezo Earn whitepaper states MEZO is used to “exercise price governance rights” and govern protocol parameters.

• Vote-escrow locking (veMEZO) and boosting: Mezo Earn describes a dual-token model where locked BTC (veBTC) and locked MEZO (veMEZO) combine to create “virtual voting weight”, which is used in the system’s matching market and incentive allocation.

• Cross-chain bridging context: Mezo’s docs include a “MEZO token and bridge” section and describe bridging using Wormhole’s Native Token Transfer (NTT) approach for related assets such as MUSD.