A venture studio called Thesis, which operates within the Bitcoin community, has unveiled its new project: Mezo, a Layer-2 Bitcoin platform. With Mezo, Bitcoin owners can generate income by staking their assets.
The announcement was made after Thesis secured a $21 million Series A funding led by Pantera.
Bitcoin Layer-2 Mezo Launches
During the recent funding round, investors such as Multicoin Capital, ParaFi Capital, Hack VC, Draper Associates, Nascent, Primitive Ventures, and Asymmetric Ventures joined in. Mezo aims to broaden the Bitcoin community by introducing practical applications based on the Bitcoin ecosystem, as stated in the company’s announcement. What makes Mezo unique among other Layer-2 solutions is its capability to enable Bitcoin owners to generate income from their deposits, according to Thesis. Matt Luongo, CEO of Thesis and founder of Mezo, explained this differentiating feature.
An economic layer sets itself apart from other chains by contributing positively to Bitcoin in two ways: enhancing its monetary value and strengthening its network infrastructure. Furthermore, it benefits individual Bitcoin owners.
A Circular Bitcoin Economy
Mezo provides a platform for users to engage with apps that simplify the handling of Bitcoin tokens, advocating for what they call a “closed-loop Bitcoin marketplace” rather than just a savings tool. Mezo’s unique feature is Proof-of-HODL, a reward system that calculates points based on the length of time individuals hold their Bitcoins. Essentially, Mezo aims to activate dormant Bitcoin stashes by giving long-term holders an incentive to contribute to the Bitcoin economy.
The Mezo founder expressed a desire for individuals who truly possess Bitcoin to operate the network. Moreover, the longer one utilizes Bitcoin through Mezo, the more closely their interests will align with the project.
“Ensuring accessibility: It’s crucial that those in possession of Bitcoin can effectively utilize this digital chain. All activities occurring on this chain prove beneficial for Bitcoin owners and users alike. Every person who interacts with this asset should have the opportunity to profit from their Bitcoin, rather than it being a mere decorative item or collector’s piece.”
Deepening The Capabilities Of Bitcoin Infrastructure
Mezo is designed to enhance Bitcoin’s functionality by enabling cheaper and quicker transactions without sacrificing its fundamental characteristics. The permissionless layer of Mezo utilizes a neutral smart contract platform, expanding the selection of applications on the Bitcoin network. As per reports, tBTC, built by Thesis, will launch with Mezo’s support, showcasing the potential of tBTC in making Bitcoin a more versatile asset. Dan Morehead, founder and managing partner at Pantera Capital, expressed his viewpoint.
“Reaching this point is a pivotal milestone for Bitcoin as both a groundbreaking technology and valuable asset. The dedicated Bitcoin community has demonstrated impressive patience by hoarding their coins for extended periods. Now, they’re eager to utilize their holdings effectively.”
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2024-04-10 15:07