Tokenomics

#$MRDN

#Allocation

The full supply is minted in one transaction at deployment. Every address that received $MRDN and the amount it received are listed here, linked to that transaction.

pre-launch The allocation is read from the deployment transaction's Transfer events once $MRDN is deployed.

#Two flows

$MRDN connects to the desk through two flows. The contracts enforce the first. The desk funds the second.

#Fees → buybacks (enforced by contract)

swap fee (HYPE) ─▶ BuybackVault ─▶ buys $MRDN on MRDN/HYPE ─▶ burned

• 100% of swap fees, from every pool, including MRDN/HYPE.
• Fees are collected in HYPE.
• Liquidity providers, the desk included, get no fee share.
• The vault holds HYPE until it buys. It currently holds —pre-launch HYPE.

#Desk → stakers (funded by the desk)

desk (HYPE) ─▶ Distributor, each Monday 09:00 JST
                   │
                   └─ streamed over 7 days ─▶ $MRDN stakers

• The desk decides each epoch's amount.
• The contract pays out exactly what it receives, in proportion to stake over time.
• Funded to date: —pre-launch HYPE across —pre-launch epochs.

#What $MRDN is not

$MRDN isn't a share in Meridian, in the desk, or in any listed company. It carries no claim on the desk's assets or revenue. Buybacks reduce supply but don't set a price floor. Distributions depend on the desk funding them.