The Movement ecological DeFi project Meridian has completed a $4 million seed round financing, led by ParaFi Capital and Borderless Capital

according to PR Newswire, the decentralized liquidity market and liquid staking protocol Meridian, built on Movement, announced the completion of a $4 million seed round financing, led jointly by ParaFi Capital and Borderless Capital, with participation from institutions such as Amber Group, Saison Capital, Interop Ventures, and Oak Grove Ventures.

With this funding, Meridian plans to expand its global team, actively recruiting talent in engineering, product, and marketing. The protocol is currently live on the testnet and plans to launch simultaneously on the Movement mainnet on its launch day.

It is worth noting that compared to existing EVM and SVM solutions, the Move ecosystem currently accounts for only a small portion of on-chain liquidity and trading volume. Meridian plans to leverage the security and composability of the Move language to bridge this gap.