According to official news, Meridian, a DeFi project in the Movement ecosystem, announced that it has completed a $4 million seed round of financing. This round of financing was jointly led by ParaFi Capital and Borderless Capital, and Amber Group, Saison Capital, Interop Ventures and Oak Grove Ventures participated in the investment.
It is reported that Meridian is a decentralized liquidity pledge protocol platform built on the Movement network. While the platform is committed to improving liquidity and income mechanisms for users, it can also demonstrate the advantages of smart contracts based on Move, aiming to create a seamless, efficient and secure DeFi experience to attract users and developers to join the Movement ecosystem.
Movement Labs co-founder Rushi Manche said that Meridian's successful financing proves the growth potential of DeFi based on Move. As the ecosystem matures, Meridian will play a key role in aggregating liquidity and providing basic financial primitives. The funds will develop a strong, secure and highly composable DeFi landscape on Movement. "
Meridian is currently running on the Movement testnet and plans to go online with its mainnet at the same time.