Pantera leads $21m investment in Bitcoin layer-2 network Mezo

Pantera Capital spearheaded the funding initiative, with strong backing from Multicoin, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures, and Asymmetric Ventures.

Notably, individual investors such as Dan Held, Tim Draper, and the enigmatic DCF God also seized the opportunity to contribute to the venture.

Thesis, the pioneering blockchain venture studio behind Mezo, has proudly announced the successful closure of its recent fundraising endeavor earlier this week.

Mezo stands as a groundbreaking permissionless Bitcoin economic layer, harnessing a neutral smart contract framework to offer a diverse array of applications. It stands tall among the latest wave of Bitcoin L2 networks, poised to elevate Bitcoin’s functionality beyond mere trading.

Key counterparts like Babylon and Stacks, focusing on features like staking for Bitcoin users, acknowledge Mezo’s innovation and potential.

Reports indicate that Thesis initiated the fundraising campaign for Mezo in December 2023, culminating in an impressive $21 million round closure.

Thesis underscores Mezo’s role as a “permissionless Bitcoin economic layer,” leveraging a neutral smart contract infrastructure to facilitate a myriad of user applications.

The platform’s architecture is geared towards fortifying Bitcoin’s infrastructure, enabling seamless and cost-effective transactions. Users will gain access to a spectrum of applications using Bitcoin across diverse domains, fostering a vibrant circular economy.

One standout feature of Mezo is its “Proof of HODL” points program, ingeniously incentivizing users to actively engage with their Bitcoin holdings within the platform.

Matt Luongo, CEO of Thesis and founder of Mezo, emphasizes the platform’s mission to transform Bitcoin holdings from idle assets to actively contributing assets within the network, rewarding users for bolstering network security.

Additionally, the platform will introduce tBTC, a Bitcoin-backed Ethereum (ETH) token, empowering users to partake in Ethereum’s decentralized finance (defi) ecosystem while retaining their Bitcoin holdings.

Following the triumphant funding round, Mezo proudly announces that its total value locked (TVL) now surpasses $75 million, with over a thousand active addresses.

The infusion of capital into Mezo arrives amidst a resurgence of interest in the crypto space among venture capitalists. According to PitchBook, global investors poured an impressive $2.5 billion into crypto startups during the first quarter of 2024, signaling a robust vote of confidence in the industry’s potential.


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