Meridian Secures $4 Million Seed Funding Led By ParaFi And Borderless Capital

According to Odaily, the DeFi project Meridian, part of the Movement ecosystem, 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 is a decentralized liquidity staking protocol platform built on the Movement network. The platform aims to enhance liquidity and yield mechanisms for users while showcasing the advantages of Move-based smart contracts. Its goal is to create a seamless, efficient, and secure DeFi experience, attracting both users and developers to the Movement ecosystem. Rushi Manche, co-founder of Movement Labs, stated that the successful funding round demonstrates the growth potential of Move-based DeFi. As the ecosystem matures, Meridian is expected to play a crucial role in aggregating liquidity and providing fundamental financial primitives. The funds will be used to develop a robust, secure, and highly composable DeFi landscape on the Movement network. Currently, Meridian is operating on the Movement testnet and plans to launch simultaneously with its mainnet.