Meridian Raises $4 Million in Seed Funding for Move-Based DeFi Platform

Introduction: Meridian Secures Funding to Enhance Liquidity and Yield Opportunities

Meridian, a decentralized liquidity marketplace and liquid staking protocol on Movement, has successfully raised $4 million in seed funding. The funding round was co-led by ParaFi Capital and Borderless Capital, with participation from Amber Group, Saison Capital, Interop Ventures, and Oak Grove Ventures. Meridian aims to lead the Move-based DeFi ecosystem on Movement Labs’ network of blockchains.

Main Features of Meridian Protocol

Meridian is positioned to become a central liquidity and yield hub within the Movement ecosystem. It will enable partner protocols to establish deep liquidity in a capital-efficient manner while offering users secure and productive yield on their assets. The protocol is currently live on testnet and is set to launch on Movement’s mainnet upon release.

Addressing Liquidity Gap in Move Ecosystem

The Move ecosystem currently represents a small portion of total on-chain liquidity and trading volumes compared to existing solutions. Meridian aims to bridge this gap by utilizing 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.

Expansion Plans and Team Growth

With the recently secured funding, Meridian plans to expand its global team by actively hiring across engineering, product, and marketing roles. This strategic growth will support the platform’s ambitious roadmap and accelerate its go-to-market strategy in the evolving DeFi landscape.

Key Quotes from Meridian’s Founders and Investors

Adam Cader, Co-Founder of Meridian, expressed excitement about the platform’s future and its contribution to the Move ecosystem. Rushi Manche, Co-Founder of Movement Labs, highlighted Meridian’s essential role in aggregating liquidity for DeFi. Alpen Sheth, Partner at Borderless Capital, praised Meridian’s vision and its potential to power the entire ecosystem as a first mover.