TechFlow reports that Meridian, a decentralized liquidity market and liquid staking protocol built on Movement, has announced the completion of a $4 million seed funding round. The round was co-led by ParaFi Capital and Borderless Capital, with participation from Amber Group, Saison Capital, Interop Ventures, Oak Grove Ventures, and other institutions.
With this funding, Meridian plans to expand its global team, actively hiring talent in engineering, product, and marketing. The protocol is currently live on testnet and aims to launch on day one of Movement's mainnet.
Notably, compared to existing EVM and SVM solutions, the Move ecosystem currently represents only a small fraction of on-chain liquidity and trading volume. Meridian intends to leverage the security and composability of the Move language to close this gap.
