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MERIDIANpre-launch

Risk & legal

Read this before you trade. The short version: Meridian market tokens are synthetic exposure, not shares. They carry no voting rights, their prices can drift from the home exchange, and they trade through hours when the home exchange is shut. You can lose everything you put in.

Synthetic, not shares

Meridian market tokens give synthetic price exposure. They are not shares, depositary receipts, or claims of any kind.

  • No share custody. No shares are held for you.
  • No voting rights.
  • No company dividends and no other shareholder rights.
  • No claim on the company or on anything the desk holds.
  • No affiliation. The companies named on Meridian are not involved with it.

Prices can drift from home exchanges

A market token's price is its pool price and nothing else. The desk trades to keep each pool near the home-market price, but no oracle or contract links the two. The desk can be slow, wrong or unable to close a gap, so a pool can sit above or below its home market for long stretches.

Prices are in HYPE, so a market token's price also moves with the home currency and with HYPE. A company's shares can rise at home while its market token falls in HYPE terms.

Time-zone gaps

Trading 24/7 is the point of Meridian, and it is also the sharpest risk. Each home exchange keeps hours and Meridian's pools don't. While a home market is closed there is no live home price, so pools trade on the judgment of traders and the desk. When the home market reopens, its price can open far from the pool, and the pool can move sharply as the desk re-anchors. You can buy or sell at prices the home market never traded.

Any 24/7 market in an asset whose home market keeps hours works this way. The feature and the risk are the same thing.

No redemption, and liquidity comes from the desk

You can't redeem a market token for shares, cash or HYPE. The only way out is to sell it into its pool. The desk supplies the liquidity in each pool and can add or remove it at any time. If liquidity is thin, selling moves the price against you. If the desk withdraws liquidity, you may not be able to sell at a reasonable price, or at all.

The desk is your counterparty

The desk makes the market, so it is often on the other side of your trade. Its interests are not the same as yours.

Market token supply

The desk mints market tokens to seed and make markets, and it can mint more. No collateral stands behind them. Every mint is on-chain and comes from a published address.

$MRDN and distributions

  • Distributions aren't guaranteed. The desk sets each week's amount, and it can be zero. Past epochs don't predict future ones.
  • Buybacks don't set a floor. They burn $MRDN, but its price can still fall.
  • No claim on the desk. $MRDN carries no claim on the desk's assets or revenue.

Contracts and keys

Smart contracts can have bugs. The desk holds admin keys, and the Contracts page lists what each one controls. Until an audit report is linked there, treat the contracts as unaudited.

Network

Meridian runs on Elysium, a new network. Downtime, bridge failures or chain-level faults can halt trading or lock funds. Gas is paid in HYPE.

Testnet

Testnet tokens have no value, and testnet prices say nothing about mainnet prices.

Pre-launch figures

Before Meridian's pools are deployed, the prices, candles, volumes and depth on this site are preview data generated by the site to lay out the terminal. Every surface that shows them carries a "preview data" label. They aren't trades, they aren't quotes, and they say nothing about where any market will open.

Not an offer, not advice

Nothing on this site is an offer to sell, or a solicitation of an offer to buy, any security, derivative or other financial instrument in any jurisdiction. Nothing here is investment, legal, tax or accounting advice. Make your own decisions, and get your own advice if you need it.

Your jurisdiction

Synthetic equity products are restricted in many places, and Meridian may limit access by region. You are responsible for whether you may use Meridian where you are.

Names and marks

Company names identify the reference company for each market and nothing more. Those names and any related trademarks belong to their owners. Meridian is not affiliated with, endorsed by or sponsored by Toyota, Nintendo, Sony, TSMC, Samsung, BMW, LVMH or any other company named on this site.

Software, as is

The site and the contracts are software, provided as is and without warranty. Transactions on Elysium are final, and no one can reverse them for you. You use Meridian at your own risk.