FAQ
What is Meridian?
A synthetic equities desk on Elysium. It runs markets in seven non-US companies (Toyota, Nintendo, Sony, TSMC, Samsung, BMW and LVMH), each traded against HYPE on Meridian's own AMM, 24/7.
If I hold sTOYOTA, do I own Toyota shares?
No. Market tokens aren't shares and aren't backed by shares. You get price exposure that the desk's market-making keeps near the home market. You get no vote, no company dividend, and no claim on the company.
Does the price track the real stock?
The desk trades each pool toward the company's home-market price, converted into HYPE. Nothing on-chain enforces that, so a pool can drift, most often while the home market is closed.
Can I redeem a market token?
No. There's no redemption. You exit by selling into the pool.
Who's on the other side of my trade?
The pool. The desk supplies liquidity and trades to keep prices anchored, so it is often your counterparty, either directly or soon after. Desk addresses are published on the Contracts page.
Where does the price come from?
From trading in the pool. Every buy and sell against the pool moves its price, and the desk trades to anchor it near the home market. There is no oracle. The candles on the terminal are built from those swaps.
Why sTOYOTA and not TOYOTA?
The s stands for synthetic. A market token isn't a share, and its name shouldn't let anyone mistake it for one.
Why is everything priced in HYPE?
HYPE is Elysium's gas token, and a single quote asset keeps every market comparable. It also means a market token's price moves with HYPE as well as with the company.
What happens when the home exchange is closed?
Meridian keeps trading, and the desk quotes on its own judgment until the home market reopens. The home price can then open away from the pool, and the desk moves the pool toward it.
Where do trading fees go?
All of them go to the BuybackVault, which buys $MRDN on-chain and burns it.
How do I get HYPE distributions?
Stake $MRDN in the Distributor. Each epoch opens on Monday at 09:00 JST. The desk funds it in HYPE, and the Distributor streams that HYPE to stakers over seven days. See the calendar.
Are distributions guaranteed?
No. The contract fixes the opening times, and the desk sets the amount each week. An epoch can pay zero.
Is this a dividend?
No. It's a HYPE distribution from Meridian's Distributor to $MRDN stakers, and it has nothing to do with any company's dividend.
Can the desk create more market tokens?
Yes. The desk mints market tokens to seed and make markets, and it can mint more. No collateral stands behind them. Every mint is an on-chain transaction from an address published on the Contracts page.
How is Meridian different from US stock tokens?
It lists seven companies outside the US, and its tokens are synthetic rather than share-backed. The comparison covers what that means, including where share-backed tokens give holders more.
Is Meridian affiliated with Toyota, Sony or the others?
No. Company names identify each market's reference company. None of those companies is involved with Meridian.
Are the contracts audited?
Published audit reports are linked from the Contracts page. If none is linked, treat the contracts as unaudited.
Is it live?
Every contract on the Contracts page shows its network, Elysium testnet or mainnet. Testnet tokens have no value.
Why Tokyo?
The desk runs on Tokyo time, and the name comes from Tokyo's clock: Japan Standard Time is set by the meridian at 135° east. Read the story →