Bitcoin Layer 2 Mezo Debuts With $21M Funding: Report

Key Points:

• Thesis launches Mezo, a unique Bitcoin layer 2, after a $21 million Series A round.
• Mezo offers a “Proof of HODL” program incentivizing Bitcoin holders.
• Pantera Capital views this as a crucial step for Bitcoin as a technology.

According to Fortune, Thesis announced Mezo, a Bitcoin layer 2 platform enabling Bitcoin token applications and offering users yield for securing the network. The aim is to make Bitcoin a productive asset.

Thesis, a venture studio established in 2014, has revealed Mezo, a Bitcoin layer 2 described as a “Bitcoin Economic Layer”.

Thesis Secures $21 Million to Develop Mezo, a Bitcoin Layer 2 Network

The announcement follows a $21 million Series A funding round led by Pantera Capital with contributions from Multicoin, Hack VC, Draper Associates, and others.

Mezo, according to Thesis, is unique among other layer 2s as it enables users to use applications that support Bitcoin tokens, thus fostering a circular Bitcoin economy.

The fundamental purpose of Mezo is to contribute positively to Bitcoin as a currency and a network, and to individual Bitcoin holders. The platform encourages HODLers to put their inert Bitcoin holdings to work through a points program known as “Proof of HODL”.

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Mezo’s Unique Approach and Impact on Bitcoin Economy

Mezo offers yield for users’ role in securing the network, providing Bitcoin holders an incentive to HODL. The layer-2, designed to enhance Bitcoin’s capabilities by facilitating cheaper, faster transactions, will be launched with support from Thesis-built tBTC.

Dan Morehead, founder and managing partner of Pantera Capital, believes that this is a pivotal moment for Bitcoin, not just as an asset, but as a technology. He emphasized that the Bitcoin community is ready to put their assets to work.