Meridian (formerly Ethereal) has launched its testnet on Robinhood Chain as a day-one launch partner, introducing its upcoming perpetual futures product, mPerps.

Meridian’s mPerps are designed to bring 24/7 trading and capital-efficient perpetuals to traditional assets whose underlying markets may close, using external market prices and a mutualized insurance model to manage risk.

The platform’s first mPerp markets are expected to go live in the coming weeks, with the design using frozen external marks during market closures while internal order books continue trading.

Alongside the upcoming launch, Meridian has opened Meridian Liquidity Provider (MLP) pre-deposits in partnership with Neutral Trade, Accountable, and Kappa Lab.

Depositors providing USDe can earn USDe rewards, 30x ENA rewards, and 20% of Meridian Points distributed to perps users. Deposits are currently capped at $1 million.

Users can also access the Meridian testnet and request test tokens from the available faucets to start trading.

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