Home>ALTCOIN>Mezo, Bitcoin’s Scaling Community, Secures $21 Million Funding 

Mezo, Bitcoin’s Scaling Community, Secures $21 Million Funding 


Mezo, an progressive Bitcoin “financial layer” developed by Thesis, has efficiently raised $21 million in funding, the corporate introduced.

Accepting deposits in BTC, TBTC, and WBTC, Mezo emerges from stealth mode with substantial monetary backing, primarily led by Pantera Capital. Different traders taking part within the funding spherical embody Multicoin Capital, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures, and Uneven Ventures.

Matt Luongo, CEO of Thesis and founding father of Mezo, revealed that the fundraising for Mezo commenced in December and concluded not too long ago. The $21 million funding was secured via two tranches, though particular particulars relating to valuation and the construction of the spherical stay undisclosed. However, Mezo will introduce its native token.

What’s Mezo?

Described as a Bitcoin “financial layer,” Mezo goals to construct an ecosystem of functions tailor-made to customers’ financial wants, spanning from groceries to tuition. Luongo articulated the ambition of Mezo to increase the Bitcoin community, aiming to include roughly 25% of the world’s economic system onto the blockchain, a scale similar to the present dimension of the US economic system.

Using “proof of HODL” as its consensus mechanism, Mezo allows customers to safe the community by staking BTC and MEZO tokens. This method aligns Mezo economically with BTC holders, who can stake and earn rewards for his or her participation in operating the community.

With over $26 million in complete worth locked via bitcoin deposits, Mezo has initiated its operations, emphasizing the significance of locking bitcoin deposits for accruing the next HODL rating, which capabilities as a factors program.

Furthermore, upon becoming a member of Mezo, customers obtain 5 one-time invites to increase to their pals, with the platform subsequently distributing reciprocal earnings based mostly on the period and quantity of their pals’ Bitcoin deposits made via these invites.

Along with BTC, Mezo helps deposits of TBTC and WBTC, each wrapped bitcoin variants developed by Thesis.

The funding spherical for Mezo elevates the whole funding for all Thesis tasks to over $90 million, in line with Luongo. At the moment, 48 people are engaged in Thesis tasks, with plans underway to almost double the headcount for this yr.

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