Overview

Keel is a BTC-backed dollar account built on Mezo. You borrow MUSD (Mezo's Bitcoin-backed stablecoin) against your BTC without selling it, a guardian contract protects the loan from liquidation, and you can send, split and claim payments with anyone. Keel runs as a Telegram bot and Mini App, and as a web app in any browser.

Keel is non-custodial. The server never holds keys or funds: it prepares an action (an intent), shows you exactly what will happen, and you sign it in your own wallet.

Status. Keel is live on Mezo testnet (chain 31611). It is testnet software and has not been audited. Every Keel contract has verified source on the Mezo explorer; see Contracts and verification.

#Who it's for

• Bitcoin holders who need dollars but don't want to sell, give up the upside or trigger a tax event.
• People already borrowing on Mezo who want their loan watched and protected while they sleep.
• Telegram communities, creators and small merchants who split costs and collect payments in a stable unit.
• Wallets and apps on Mezo that want liquidation protection for their own users (planned API).

#The four pillars

#1. Borrow, with guardrails

Ask in chat ("borrow 1800 at 160%") or use the app. Before you sign, Keel shows:

• the one-time 0.1% fee;
• the fixed interest rate;
• your collateral ratio and liquidation price.

Loans Mezo would reject are blocked before you get to the wallet. See How borrowing works.

#2. Guardian protection

Each loan lives in your own guardian contract.

• You fund a small reserve and choose a trigger, for example "below 170%, bring me back to 180%".
• When the ratio falls below the trigger, anyone can call protect(), and Keel runs a keeper that does.
• protect() can only move your reserve into your own loan. The keeper's tip is capped at 1%.
• Guardian v2 helps even when the reserve is too small: it rescues as far as the reserve allows and tells you exactly how much BTC to add.

See Guardian protection.

#3. Risk alerts

Keel watches three things and offers a one-tap fix for each:

• the distance to liquidation;
• your place in Mezo's redemption queue;
• Recovery Mode.

See Alerts and notifications.

#4. Payments

• Send MUSD to any @username or address.
• Split bills with a live card.
• Request payments in a group.
• Send claim links to people without a wallet: they claim in one step and Keel pays their gas.

See Payments.

#Where to use it

#Where to go next

• New here? Start with the Quick start.
• Evaluating the project? See the Wave 2 checklist, the Security model and the Business model.
• Building on it? See Developers and Architecture.