September 24, 2024
Meridian, a decentralized liquidity marketplace and liquid staking protocol on the Movement network, has secured $4 million in seed funding. The funding round was co-led by ParaFi Capital and Borderless Capital, with contributions from Amber Group, Saison Capital, Interop Ventures, and Oak Grove Ventures. Meridian aims to lead the Move-based DeFi ecosystem on Movement, a blockchain network developed by Movement Labs.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Meridian Money | $4M | September 24, 2024 | Seed Round | Parafi Capital & Borderless Capital | DeFi |
Positioned to become the main liquidity and yield center of the Movement ecosystem, Meridian will help partner protocols build deep liquidity efficiently while providing users with secure and productive yield on their assets. Currently live on testnet, the protocol is set to launch with Movement’s mainnet, marking a key milestone for the Move ecosystem.
Adam Cader, Co-Founder of Meridian, highlighted that this funding round is crucial for both Meridian and the broader Move ecosystem. The platform aims to enhance liquidity and yield opportunities and demonstrate the unique benefits of Move-based smart contracts. The goal is to create a seamless, efficient, and secure DeFi experience that will attract users and developers to the Movement ecosystem.
The Move ecosystem currently holds a small portion of total on-chain liquidity and trading volumes compared to existing EVM and SVM solutions. Meridian seeks to close this gap by leveraging the security and composability of the Move language. The platform will collaborate with various restaking protocols and yield-bearing asset issuers to provide a secure and composable infrastructure for DeFi activities.
With the new funding, Meridian plans to expand its global team, hiring across engineering, product, and marketing roles to support its ambitious roadmap and accelerate its market strategy
About Meridian Money
Meridian is a platform built on Movement that lets users easily trade and earn with their assets. It provides a safe and efficient way to do DeFi activities and aims to be a key part of the Move-based financial system.
Website: https://app.meridian.money/swap
About Investor
The funding round was co-led by ParaFi Capital and Borderless Capital, with contributions from Amber Group, Saison Capital, Interop Ventures, and Oak Grove Ventures.
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