Mezo Raises $21M in Funding

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Mezo
Mezo

Mezo, a permissionless Bitcoin Economic Layer launched by Thesis, a NYC-based venture studio funding and building brands on Bitcoin, with $21M in funding.

The round was led by Pantera Capital with participation from Multicoin, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures, Asymmetric Ventures and Dan Held, DCF God – among others.

The company intends to use the funds to expand operations and development efforts.

Founded by Matt Luongo, CEO, Mezo is a permissionless Bitcoin Economic Layer leveraging a neutral smart contract infrastructure to offer a more diverse range of user-centric applications. It is Bitcoin native, facilitating cheap and fast transactions for a variety of relevant use cases. This enhances the network’s resilience and ensures it serves the broader economic ambitions of Bitcoin holders.

By leveraging Proof of HODL, Mezo puts HODLers to work. The longer their bitcoin deposits are locked up, the greater their HODL Score multipliers. For the participant’s role in securing the network, Mezo provides yield. When users join Mezo, they will receive 5 one-time invitations to share with friends so they can begin earning in tandem. Reciprocal earnings gained from inviting friends to HODL will be based on the duration and size of their bitcoindeposits.

Mezo will go live with ecosystem support from Thesis-built tBTC, which allows for trust-minimized bitcoin bridging to numerous ecosystems.

FinSMEs

10/04/2024