In 2014, Thesis – a venture studio – introduced Mezo as their latest project. Mezo is described by Thesis as a Bitcoin layer-2 solution, which they call the “Bitcoin Economic Layer.” Following a successful $21 million Series A investment round, this launch marks an exciting development for Thesis.
Bitcoin Layer 2 Mezo’s Series A Funding
The investment round for the Bitcoin Layer 2 solution’s Series A was led by Pantera Capital, with participation from Multicoin, Hack VC, and Draper Associates, among others. This is a notable achievement for the BTC Layer 2 solution as it now has the support of prominent investors in the industry.
Mezo uniquely provides users with the ability to use Bitcoin tokens through its selection of applications. Additionally, Mezo strives to develop a thriving Bitcoin economy beyond just saving, as stated by Fortune’s interview with Matt Luongo, CEO of Thesis and Mezo founder: “I believe what sets an economic layer apart from other chains is the positive impact it brings to Bitcoin – both financially and network-wise.”
Mezo’s distinctive aspect includes the “Proof of HODL” rewards system, motivating users to continually manage their Bitcoin through the application. In simpler terms, Mezo is working to transform Bitcoin from passive investments into an interactive experience for its users.
Luongo stressed the importance of enabling Bitcoin users to effectively operate the network. The longer users keep and engage with Mezo, the more closely connected they become to the platform, resulting in rewards for maintaining the network’s security.
Low-cost & Seamless Transactions On Mezo
Additionally, Mezo tackles the issue of affordability and swiftness in Bitcoin transactions while preserving its fundamental tenets. Functioning as a permit-free addition, it utilizes a unbiased smart contract framework to broaden the scope of usable apps on the Bitcoin system.
The tBTC platform built by Thesis will back the Layer 2 solution for Bitcoin, enabling “trust-minimized” connections to diverse ecosystems. Moreover, Anjan Vinod, a principal at ParaFi Capital, celebrated Mezo’s debut as evidence of tBTC’s capacity to augment Bitcoin’s value as a financial asset.
Dan Morehead, founder and managing partner of Pantera Capital, expressed that this moment feels significant for Bitcoin as a groundbreaking technology, not just as a financial asset. He highlighted the eagerness of the Bitcoin community to employ their assets in various ways beyond simple possession. This change points towards increased involvement and interaction with the technology itself.
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2024-04-09 22:36