Kappa Lab Is Curating the Meridian Liquidity Provider Vault

The Meridian Liquidity Provider (MLP) is a professionally curated multi-venue market making vault for Meridian's upcoming mPerps on Robinhood Chain. On August 3, 2026, MLP reached its $1 million Phase 1 pre-deposit cap. Kappa Lab serves as the vault's strategy curator, working alongside Meridian, Neutral Trade, and Accountable.

What is the Meridian Liquidity Provider vault?

MLP is a vault that accepts USDe deposits and deploys them into market making strategies between Meridian perpetuals and external exchanges. It was launched by Meridian (formerly Ethereal) in partnership with Neutral Trade, Accountable, and Kappa Lab. ahead of mPerps, a new perpetuals instrument designed specifically for 24/7 tradfi markets, going live on Robinhood Chain in the coming weeks.

How the MLP strategy works

MLP's mandate is to provide liquidity on Meridian while managing offsetting exposure on other venues for capital efficiency. Returns are designed around spread capture and USDe rewards rather than market direction. Strategy execution runs through Neutral Trade's infrastructure, with Kappa Lab curating the strategy. Depositors also earn USDe rewards, 30x ENA rewards, and 20% of all Meridian Points emitted to perps users. (Source: Meridian announcement, July 30, 2026.)

Why new venues launch with liquidity vaults

New derivatives venues face a familiar constraint: traders want order book depth from the first trade, and depth requires capital committed before volume exists. Pooled, professionally managed liquidity is one response. A vault that quotes on the new venue while hedging on established ones allows depth to be present at launch rather than built gradually afterward.

Kappa Lab's role

As strategy curator, Kappa Lab designs and oversees the market making approach the vault deploys across venues. At Kappa Lab, we operate liquidity infrastructure at the intersection of execution, risk management, and evolving onchain market structure. MLP is an extension of that work.

Read Meridian's full announcement here.

If you're building in this space and need reliable liquidity, reach out.

Frequently asked questions

1- What are Meridian mPerps?
‍mPerps are a DeFi-native perpetuals instrument designed by Meridian for assets whose underlying markets close, such as stocks and commodities. They use a risk framework adapted to traditional market hours. The first mPerp markets go live on Robinhood Chain in the coming weeks.

2- Who are the partners behind the MLP vault?
‍MLP is a partnership between Meridian (the venue), Neutral Trade (strategy execution infrastructure), Accountable (deposit management), and Kappa Lab (strategy curation).

3- What do MLP depositors earn?
‍Depositors providing USDe earn USDe rewards, 30x ENA rewards, and 20% of all Meridian Points emitted to perps users, alongside returns from the vault's spread-capture strategy once Phase 2 begins.

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