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Meridian Money, a Central Liquidity hub on Movement, Secures $4M in Seed Funding Parafi Capital & Borderless Capital


 Central Liquidity hub on Movement

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.


 

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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