# Mezzamine

- [Overview](https://docs.mezzamine.com/index.md): Bitcoin's native credit market for the global mining economy.
- [How It Works](https://docs.mezzamine.com/welcome/how-it-works.md): How Mezzamine originates, secures, and services BTC-denominated mining credit.
- [Mining Needs to Scale, but Lacks Financing](https://docs.mezzamine.com/mining-economy/finance-problem.md): Bitcoin mining is the network's security layer, yet the financing to scale it does not exist at the scale required.
- [Bitcoin Has No Native Yield](https://docs.mezzamine.com/mining-economy/no-native-yield.md): BTC has no built-in mechanism for yield generation, and existing approaches route capital out of Bitcoin's economy.
- [The Productive Foundation of Bitcoin's Credit Economy](https://docs.mezzamine.com/mining-economy/productive-foundation.md): Mining is the one form of productive work native to Bitcoin, the natural starting point for its credit economy.
- [Mezzamine](https://docs.mezzamine.com/mining-economy/mezzamine.md): How Mezzamine bridges both gaps by channeling idle BTC into mining and generating native BTC yield.
- [Borrowing Facilities](https://docs.mezzamine.com/for-miners/overview.md): Three BTC-denominated borrowing facilities for mining operators.
- [Overview](https://docs.mezzamine.com/for-miners/asic-financing/overview.md): BTC-denominated structured credit built around mining economics.
- [Loan Process](https://docs.mezzamine.com/for-miners/asic-financing/loan-process.md): The six stages every Mezzamine program moves through, from inquiry to closeout.
- [Program Terms](https://docs.mezzamine.com/for-miners/asic-financing/program-terms.md): Loan denomination, tenors, repayment structures, interest rates, and use of capital.
- [Collateral & Security](https://docs.mezzamine.com/for-miners/asic-financing/collateral-and-security.md): The layered collateral structure, coverage maintenance, hedge margin treatment, and legal package.
- [Fleet Hedging](https://docs.mezzamine.com/for-miners/asic-financing/fleet-hedging.md): Mezzamine's proprietary hedging model: how the Fleet Hedge stabilizes fleet revenue in bear markets, removes margin calls, and allows ASICs to count as collateral.
- [Ongoing Monitoring & Reporting](https://docs.mezzamine.com/for-miners/asic-financing/ongoing-monitoring.md): How active programs are monitored through API integration and periodic reporting.
- [In the Event of Distress or Default](https://docs.mezzamine.com/for-miners/asic-financing/distress-or-default.md): How the hedge absorbs stress before collateral action, and the collateral recovery order on default.
- [Getting Started](https://docs.mezzamine.com/for-miners/asic-financing/getting-started.md): How to inquire about financing for your mining operation.
- [User Guide](https://docs.mezzamine.com/for-miners/asic-financing/user-guide.md): How borrowers operate a program on the Mezzamine platform, from creation through closeout.
- [Overview](https://docs.mezzamine.com/for-miners/btc-loan-refi/overview.md): Bring your BTC-backed loan and your ASICs. We underwrite the hardware as collateral and free up your Bitcoin.
- [How It Works](https://docs.mezzamine.com/for-miners/btc-loan-refi/how-it-works.md): The refinance process, what changes versus a BTC-only loan, and how freed Bitcoin offsets interest.
- [Getting Started](https://docs.mezzamine.com/for-miners/btc-loan-refi/getting-started.md): How to refinance an existing BTC-backed loan and see what it frees up.
- [Yield Products](https://docs.mezzamine.com/for-lenders/overview.md): Two products for earning native BTC yield from mining credit.
- [Overview](https://docs.mezzamine.com/for-lenders/prime-lending/overview.md): Native BTC yield through secured exposure to mining-backed credit.
- [The Vehicle](https://docs.mezzamine.com/for-lenders/prime-lending/the-vehicle.md): What you fund, what you earn, tenor, how returns flow, and minimum participation.
- [Cash-Flow Control](https://docs.mezzamine.com/for-lenders/prime-lending/cash-flow-control.md): Controlled mining receipts, the shared program wallet, the operating waterfall, and approval over withdrawals.
- [The Hedging Model](https://docs.mezzamine.com/for-lenders/prime-lending/the-hedging-model.md): How the Fleet Hedge and Principal Hedge protect scheduled debt service and investor principal, with the reference data behind it.
- [Principal Protection](https://docs.mezzamine.com/for-lenders/prime-lending/principal-protection.md): Pledged collateral, controlled hashrate, hedge value, LTV maintenance, and the recovery waterfall.
- [Performance Across Market Cycles](https://docs.mezzamine.com/for-lenders/prime-lending/performance-across-market-cycles.md): Modeled behavior of the Fleet Hedge, Principal Hedge, and combined structures across the reference scenarios.
- [Getting Started](https://docs.mezzamine.com/for-lenders/prime-lending/getting-started.md): How qualified investors request access, complete onboarding, and fund a Prime Lending commitment.
- [User Guide](https://docs.mezzamine.com/for-lenders/prime-lending/user-guide.md): How lenders participate on the Mezzamine platform, from bridging BTC through receiving distributions.
- [Exit and Liquidity](https://docs.mezzamine.com/for-lenders/prime-lending/sale-and-redemption.md): How Prime Lending positions return principal at term, and how to exit before maturity through the myBTC secondary market.
- [Overview](https://docs.mezzamine.com/for-lenders/mybtc/overview.md): A yield-bearing Bitcoin token issued by Maestro, holding mining credit exposure with flexible redemption.
- [Collateral and Custody](https://docs.mezzamine.com/for-miners/line-of-credit/collateral-and-custody.md): Reserves and pledged hashrate secure the line, undrawn BTC earns yield, and there are no margin calls.
- [Facility Terms](https://docs.mezzamine.com/for-miners/line-of-credit/facility-terms.md): Draw currencies, rates, reserve yield, collateral, and custody for the revolving line.
- [Getting Started](https://docs.mezzamine.com/for-miners/line-of-credit/getting-started.md): How to open a revolving BTC line against your reserves and hashrate.
- [How It Works](https://docs.mezzamine.com/for-miners/line-of-credit/how-it-works.md): Idle reserves earn while they wait, and the line revolves as you draw, mine, and repay.
- [Overview](https://docs.mezzamine.com/for-miners/line-of-credit/overview.md): A BTC credit facility that pays you while it waits. Earn yield on idle reserves and draw liquidity without selling.