Meridian transforms Movement Defi

Sebastien Couture -

I'm pleased to share Interop Ventures' participation in Meridian’s $4m seed round. ParaFi Capital and Borderless Capital co-led the round, which also included Amber Group, Saison Capital, Oak Grove Ventures, and other investors.

Next-generation VMs like Move are crucial for the growth and adoption of Defi and Web3. This was Facebook's thesis when they built the Move programming language. When they set out to create the first global internet currency, they found none of the languages available were secure and performant enough.

We were early investors in Movement and believed in the founders' vision of an integrated platform that was both secure and performant. Meridian will be Movement's liquidity and yield hub, offering users productive returns on their assets.

Meridian is live on testnet and encompasses a suite of Defi primitives for the ecosystem:

  • an AMM supporting weighted and stable pools, with support for concentrated liquidity,
  • a Liquid Staking Token (LST) featuring a two-token non-yield bearing and staked yield-bearing model,
  • an LST and restaking, allowing holders to earn additional yield by securing Move-based AVSs,
  • a Movement full node validator, contributing to network security and vertically integrating their LST and LRT products into a cost-efficient stack.

The Meridian team has a long history in the Move ecosystem, having previously built Thala Labs, the largest application on Aptos.

The EVM will soon be ten years old and was designed as the nascent blockchain ecosystem had to move fast and break things. In the last decade, bugs in Solidity have been responsible for billions in hacks and lost funds. The industry needs to move (no pun intended) to more secure, performant, and scalable programming languages and VMs to empower indie developers and enterprises to build the next wave of decentralized applications.

Meridian is a strong value-add for the entire Movement ecosystem. It turns the MVMT token into a productive, yield-generating asset and creates opportunities for Move L2s and rollups to build in the Movement network.

We’re excited to support the Meridian team, Movement Labs, and Echelon, in which Interop Ventures also invested, as Move gains traction to build more scalable and secure decentralized applications.