Summary
Thesis* raised $21 million for Bitcoin layer-2-like product Mezo, focused on fast and cheap transactions. Mezo aims to increase Bitcoin’s real-world utility through a system called “Proof of HODL.” Founder Matt Luongo sees a shift in developers’ interest in broadening Bitcoin’s utility. Thesis* also works on projects like Fold and Threshold. Mezo will support tBTC, a tokenized version of bitcoin. The project avoids the debate around layer-2 terminology by calling itself an economic layer for Bitcoin.
Key Points
1. Mezo, a Bitcoin layer-2-like product, raised $21 million in funding from investors like Pantera Capital and Multicoin Capital.
2. Mezo is focused on providing fast and cheap Bitcoin transactions through a system called “Proof of HODL,” allowing participants to lock up their Bitcoin in exchange for yield.
3. Thesis* founder Matt Luongo believes there is a shift in Bitcoin’s utility and developers are once again interested in expanding its use cases beyond trading, citing examples like mortgages, payroll, and decentralized social media as potential applications for Bitcoin through Mezo’s network.