Mezo: get mats points for Bitcoin staking
Mezo is a bitcoin-based L2 solution designed to extend infrastructure and enable fast, low-cost transactions. The project is being created by the Thesis team. According to its representatives, the new L2 solution will help gain access to applications that expand the use of bitcoin in various industries.
In April 2024, Mezo announced the completion of a Series A strategic round. The team managed to raise $21 million in funding from well-known venture capital funds: Multicoin Capital, Hack VC, Draper Associates, and others. A few months later, the developers received an additional $7.5 million. The total investment amount is $28.5 million.
At the time of writing, the protocol is undergoing its second phase with the ability to accumulate mats points for asset deposits. Until recently, staking could be done in Bitcoins and wrapped variations of it, but in early July the developers added the ability to steak stablecoins. In general, the protocol now supports BTC, tBTC, WBTC, USDC, USDT, USDe, crvUSD, thUSDT and DAI.
Mats are accrued daily and their number depends on the token selected and its blocking period. The maximum number of points can be received for Bitcoin staking for 9 months. It is impossible to return the funds before the end of the selected period.
According to the analytical service Dune, only about 13,000 wallets have made a deposit in the protocol, and TVL reaches 2,099 BTC. Also, according to the platform, more than half of all assets are wBTC. The popularity of the wrapped version of the first cryptocurrency on the Ethereum network is probably due to the lower cost of the deposit fee, because if one were to stack from the bitcoin blockchain, the fee would be 0.001 BTC ($55 equivalent at the time of writing).
Points are awarded the same regardless of which network the deposit is made from, but perhaps the uniqueness of the interaction through the bitcoin network will affect the potential airdrop. Do your own research and consider all risks.
The MEZO native token has been confirmed and, according to the documentation, will launch in the second half of 2024 along with the mainnet launch.
In this guide we will show what actions to perform in the protocol to get mats points and qualify for a potential airdrop.
Guide to completing the activities
Next in the material, let’s consider the method of interacting with the protocol via EVM wallet, as it requires fewer associated costs. You can use the instructions that the Incrypted team published in our Telegram channel dedicated to airdrops, if you are interested in the method of deposit through the bitcoin network. We also recommend subscribing so you don’t miss important updates.
Important: there is a referral program on the platform. The minimum amount for bitcoin steaking is 0.01 BTC. The same amount is required to get five of your own invitation codes. Blocking 0.05 BTC will provide one reusable code. Stablecoins are not counted in this and they have no minimum deposit.
Note: you need a wallet like Metamask to pass. If you don’t have one, you can use our guide to set up and customize it.
- Go to the site and enter invitation code.
Note: if you decide to make a deposit and want to support Incrypted using our referral code, write about it in the comments to the post and we will contact you.
- Click Log In and toggle the connection option. Connect the wallet:
- Choose an asset, considering the number of mats that will be credited daily. Specify the desired number and blocking period. Confirm the deposit:
- On the My mats section you can see your rank and total number of points. Referral codes are below:
- Follow the social networks of the project not to miss important updates.
Conclusion
Performing an activity requires the cost of paying commissions. The platform requires you to block your own assets to get platform points. The activity may suit users who passively hold bitcoin. The TGE of the native token is scheduled for the second half of 2024.
Highlights:
- 13,000 protocol users;
- costs present;
- investment of $28.5 million;
- funds remain blocked for a selected period.
Useful links: Website | X | Discord
If you have any questions about the activity, you can ask them in our X.
All information is provided for informational purposes only and should not serve as a basis for making investment decisions, as well as should not be considered as a recommendation or advice to participate in investment transactions. Do Your Own Research.
It will be interesting
