Mezo, an modern 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 buyers collaborating within the funding spherical embrace 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 by means of two tranches, though particular particulars concerning valuation and the construction of the spherical stay undisclosed. Nonetheless, 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 measurement of the US economic system.
Using “proof of HODL” as its consensus mechanism, Mezo permits 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 by means of bitcoin deposits, Mezo has initiated its operations, emphasizing the significance of locking bitcoin deposits for accruing the next HODL rating, which features 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 primarily based on the length and quantity of their pals’ Bitcoin deposits made by means of 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 overall funding for all Thesis initiatives to over $90 million, in line with Luongo. At the moment, 48 people are engaged in Thesis initiatives, with plans underway to just about double the headcount for this yr.
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