Bitcoin scaling network Mezo completes $7.5 million financing, led by Ledger Cathay Fund.

ChainCatcher news, Bitcoin scaling network Mezo has completed a $7.5 million financing round, led by Ledger Cathay Fund, with participation from ArkStream Capital, Aquarius Fund, Flowdesk, GSR, Origin Protocol, and Bybit's ecosystem project Mantle EcoFund. This round of financing brings its total funding to $30 million.

The new funds will be used for Mezo's plans to expand the adoption of its network, including integrating more products into its network, such as its Bitcoin staking platform Acre.

According to the Web3 asset data platform RootData, Mezo is a Bitcoin Layer2 network that enables users to access applications that facilitate the use of Bitcoin tokens, promoting a circular Bitcoin economy, not just a "savings technology." Mezo utilizes the idle Bitcoin of holders through the "HODL Proof" points program, where the longer the holding period, the more the contributor's "HODL score multiplier."