Author: 1912212.eth, Foresight News
The Bitcoin ecosystem seems to be experiencing a Renaissance. Various vertical applications and tracks have sprung up, generating various benefits and utilities around BTC, and the good show of one singing and another coming on stage continues. However, a careful observation will reveal that there is still a certain gap between the development of the industry and the needs of ordinary users, and the imagination space of BTC's benefits is far from being opened, which has always been a topic of continuous exploration in the industry.
Among a group of technically excellent competitors, Mezo, which is positioned as a second-layer Bitcoin network, has taken a different approach and entered the market by establishing a Bitcoin economic layer. Recently, Mezo's developer Thesis has just completed a US$21 million Series A financing round, led by Pantera Capital and participated by Multicoin, Hack VC and others.
About Mezo
Mezo was launched by the startup studio Thesis, which has many years of experience in BTC ecosystem development. TBTC was created by it.
Mezo aims to deepen the functionality of Bitcoin infrastructure by facilitating cheaper and faster transactions without deviating from the network’s foundational principles.
Someone once joked that many projects in the BTC ecosystem today are like "building a temple in a nutshell". Due to the fact that BTC itself does not support smart contract functions, it is always difficult for each ecosystem to open up imagination space.
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, Bitcoin's second layer prioritizes the interests of miners rather than user needs, which is not very beneficial to the development of Bitcoin as a whole. Mezo's so-called Bitcoin economic layer is to always put Bitcoin first, whether in terms of usage, revenue or activity. Gas fees are paid in BTC, all values on the network are calculated in BTC, and BTC supports the network's security model.
Specifically, users' use of Bitcoin will not dilute its value, and real BTC returns can be obtained through Bitcoin staking. In addition, the higher the user activity, the more secure and resilient the Bitcoin network will be.
To this end, Mezo adopts the "Proof of HODL" mechanism, where users protect the network by locking BTC and MEZO tokens and verifying transactions through CometBFT consensus.
Users can lock BTC on Mezo. The longer they lock their deposits, the higher their HODL score. When the Mezo mainnet is launched, users can contribute to network security through HODL proof and earn returns in return.
Gameplay
Mezo not only supports direct BTC staking, but also supports tBTC and wBTC.
In terms of points calculation, the user's HODL score is calculated based on the deposit time, amount and lock-up time. According to the official introduction, every day, for every BTC deposited, the user can get 1,000 points. If the lock-up period is 2 months, the points reward will be tripled, and if the lock-up period is 6 months, the points reward will be 10 times. If the lock-up period is 9 months, the points reward will be 16 times. The lock-up period cannot be modified after confirmation, and funds can only be withdrawn after the lock-up period.
In addition, users can also get bonus points by inviting friends. In the initial stage, 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 the Mezo official website shows that the number of HODLers exceeds 800, and the total number of staked BTC has risen to 1,059.
Previously, Blast attracted a large number of users through points and airdrop expectations, and 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 choice for investors who are still optimistic about the BTC market in the next two years.
