According to ChainCatcher, PR Newswire reported that Meridian, a decentralized liquidity market and liquidity pledge protocol built on Movement, announced the completion of a $4 million seed round of financing, 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 and actively recruit talents in engineering, product and marketing. The protocol is currently live on the testnet and is scheduled to be launched on the first day of the Movement mainnet.

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