Thesis, a venture studio founded in 2014, today announced Bitcoin Layer 2 called Mezo. The company calls this the “Bitcoin Economic Layer.” The launch follows his $21 million Series A led by Pantera Capital with participation from Multicoin, Hack VC, Draper Associates and others.
The paper states that Mezo is distinct from other L2s because it allows users to access applications that facilitate the use of Bitcoin tokens, facilitating a circular Bitcoin economy and is more than just a “savings technology.” It is said that it can become something.
“I think the difference between the economic layer and other chains is that for Bitcoin, it’s doing something good for both the money and the network. And it’s doing something good for individual Bitcoin holders. Matt Luongo, CEO of Thesis and founder of Mezo, said. luck.
Mezo takes the inert Bitcoin held by HODL users and “puts them to work” in a points program called “Proof of HODL,” the company said. The longer a Bitcoin deposit is stored, the more the poster's “HODL score multiplier” increases.
“We want to make sure that people who have Bitcoin can actually run this chain,” Luongo said, noting that the longer a customer spends their tokens on Mezo, the more “aligned” they become with the chain.
Mezo rewards you for your role in protecting the network. In other words, it gives Bitcoiners something to do what they're supposed to do: HODL his Bitcoin.
“Whatever happens on this chain is good for the people who hold Bitcoin, it’s good for the people who use Bitcoin on the chain, and I think that’s the important thing,” he explained. did. “Anyone who's ever been in touch with assets should be able to make money with Bitcoin. It's not just a pet rock or something sitting on a shelf, you know?”
Mezo was built to deepen the capabilities of Bitcoin infrastructure by supporting cheaper and faster transactions without departing from the network's fundamental principles, the company said in a statement. According to the company, the permissionless layer (meaning a public blockchain with no restrictions or central administrator) leverages neutral smart contract infrastructure to provide a broader range of applications on the Bitcoin network.
Layer 2 will run with ecosystem support from tBTC built in the paper, allowing for “minimum trust” bridging to different ecosystems. ParaFi Capital principal Anjan Vinod said in a statement that Mezo “underlines tBTC's immense potential in making Bitcoin a productive asset.”
“This feels like a landmark moment for Bitcoin as a technology rather than just an asset,” added Dan Morehead, founder and managing partner of Pantera Capital. “The Bitcoin community is great at holding onto Bitcoin for the long term, but at the same time being ready to leverage their assets.”
