Mezo, a new Bitcoin layer-2 network, has been revealed by Thesis, a blockchain venture studio, after a successful $21 million fundraising round with Pantera Capital as the lead investor.

The fundraising also included Multicoin, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures, Asymmetric Ventures, Dan Held, and DCF God. Mezo is described as a permissionless Bitcoin economic layer that utilizes a neutral smart contract infrastructure to offer a variety of applications for users.

This platform aims to enhance the Bitcoin blockchain's infrastructure, allowing for cost-effective and quick transactions by enabling users to access applications that utilize Bitcoin for various purposes, creating a vibrant circular economy.

Mezo will be supported by Thesis' bitcoin-backed Ethereum token tBTC, which enables users to bring bitcoin into Ethereum's decentralized finance (DeFi) ecosystem. Matt Luongo, CEO of Thesis and founder of Mezo, expressed his vision for the platform to extend the Bitcoin network and bring a significant portion of the world's economy on-chain, comparable to the size of the U.S. economy.

Through Mezo, users can securely hold their bitcoin while earning a yield for supporting the network, driving the Bitcoin economy and unlocking the full potential of their BTC.