Thesis, the developer of Bitcoin L2 network Mezo, has completed a $21 million Series A financing round, led by Pantera Capital, with participation from Multicoin, Hack VC, Draper Associates, etc.
It is reported that Mezo uses the idle Bitcoin of holders through the "Proof of HODL" points program. The longer the storage time, the more "HODL score multipliers" the contributors will get. Mezo will be launched with the support of the tBTC ecosystem built by Thesis, and will allow "trust minimization" to bridge to various ecosystems.
Matt Luongo, CEO of Thesis, said, "We want to make sure that people who own Bitcoin can actually run the chain." The longer customers use tokens on Mezo, the higher their "consistency" with the chain. (Fortune)