Blast on Bitcoin? Interpretation of L2 Mezo, which raised 21 million

The Bitcoin ecosystem seems to be experiencing a renaissance. Various vertical applications and tracks are springing up like mushrooms after a rain, generating various benefits and effects around BTC. The good show of you singing and me appearing is constantly being staged. However, upon careful observation, it is not difficult to find that there is still a certain gap between the development of the industry and the needs of ordinary users. The imagination of BTC’s income is far from being opened up, and this has always been an issue that the industry is constantly exploring.

Among a group of track players with excellent technology, Mezo, which is positioned as the second-layer Bitcoin network, has taken the lead and entered the market by establishing the Bitcoin economic layer. Recently, Mezo's developer Thesis has also just completed It raised US$21 million in Series A financing, led by Pantera Capital, with participation from Multicoin, Hack VC and others.

Mezo Introduction

Mezo was launched by Thesis, an entrepreneurial studio with many years of experience in BTC ecosystem developers, and tBTC was created by it.

Mezo aims to deepen the capabilities of Bitcoin’s infrastructure by assisting in enabling cheaper and faster transactions without departing from the network’s foundational principles.

Someone once joked that many projects in the BTC ecosystem today are similar to "building a dojo in a screw shell." Due to the fact that BTC itself does not support smart contract functions, it is always difficult for each ecosystem to open up space for imagination.

Therefore, the recently emerged Bitcoin L2 and DA always put technical advantages first and differentiate their positioning through technical narratives. Mezo is different. It develops the network by distributing BTC revenue to users in a different way. In short, Mezo is equivalent to Blast on Ethereum.

Mechanism Design

In Mezo’s view, the second layer of Bitcoin prioritizes the interests of miners rather than user needs, which is of little benefit to the development of Bitcoin as a whole. Mezo's so-called Bitcoin economic layer is to always put Bitcoin first, whether it is usage, income or activity. Gas fees are paid in BTC, all value on the network is denominated in BTC, and BTC supports the network’s security model.

Specifically, users using Bitcoin will not dilute its value, and can obtain real BTC income through Bitcoin staking, and the higher the user activity, then the Bitcoin network The stronger the security and resilience.

To this end, Mezo adopts the "Proof of Holding" mechanism (Proof of HODL). Users protect the network by locking BTC and MEZO tokens and verifying transactions through the CometBFT consensus.

Users can lock BTC on Mezo, and the longer they lock their deposits, the higher their HODL score will be. When the Mezo mainnet launches, you can contribute to network security through HODL proofs and earn revenue in return.

How to play

Mezo not only supports direct staking of BTC, but also supports tBTC and wBTC.

In terms of points calculation, the user's HODL score is calculated comprehensively based on the deposit time, quantity and lock-up time. According to the official introduction, every day, users can get 1,000 points for every BTC they deposit. If the lock-in period is 2 months, the point rewards will be multiplied by 3 times; if the lock-in period is 6 months, the point rewards will be multiplied by 10 times. It increased 16 times in 9 months. Once the lock-in period is confirmed, it cannot be modified, and funds can only be withdrawn after the lock-in period.

In addition, users can also get bonus points by inviting friends. At the beginning, they will receive 5 invitation codes, and the invitation codes cannot be reused.

Summary

According to its official documents, the Mezo mainnet is expected to be launched in the second quarter of this year, and its token MEZO will be launched together with the mainnet. Currently, data from Mezo’s official website shows that the number of HODLers users exceeds 800, and the total number of pledged BTCs has risen to 1,059.

Previously, Blast was expected to attract a large number of users through points and airdrops. Its success showed that developers need liquidity. Therefore, it is natural for developers to flock to the Bitcoin second-layer ecosystem, because Bitcoin is the most liquid cryptocurrency.

Mezo has brought the war to the BTC ecosystem, and it remains to be seen whether it can replicate its success. With the Bitcoin halving approaching, it may also be a good income option for investors who are still optimistic about the BTC market this year and next.

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