Mint
Only after a reserve deposit is verified is an equal amount minted — to the same identity. If reserves don't move, nothing gets minted. Issuance is locked to reserves.
Reserve in → verified → equal mint
Meridian ChainOne ledger, six things.
Meridian Chain is the settlement and evidence ledger of the Meridian Special District — permissioned, final in seconds. It does not try to do everything. The opposite: its entire capability is exhaustively six transaction types, and it cannot do a seventh. The boundary is the trust.
FormPermissioned · allowlist entry
FinalitySingle-slot · typically seconds
BoundarySix types · no seventh
AuditThree-way daily · offline-verifiable
What it does — and only does
Six things, exhaustively
A ledger earns trust not by how much it can do, but by what it cannot. The list below is not a feature tour — it is the boundary itself.
Burn
Redemption burns the same amount it pays out. What leaves is what burns — supply and reserves can never drift apart, and there is no "forgot to burn."
Redeem → equal burn → reserve out
Transfer
Value moving between allowlisted accounts. Every unit has an origin, a destination and a signature — money of unknown provenance does not exist on this ledger.
Identity → identity · fully traceable
Swap
The ecosystem settlement asset and a jurisdiction's local digital currency exchange atomically on-chain at the published rate: all or nothing, no in-between state.
USDM ⇄ local digital currency · atomic
Anchor
The fingerprint of a receipt or credential is written into the ledger. From that moment anyone can verify it independently — including fully offline.
Receipt hash → on ledger → verifiable
Registry
Governed changes to the account allowlist and system parameters. Four-eyes principle, fully logged — changing the rules is itself an auditable transaction.
Propose → review → effect · traceable
"There is no seventh thing." This chain opens no smart contracts to the public and carries no third-party code. It is a ledger, not a platform — what it cannot do is its hardest promise.
Who can write
Address is identity; writing is admission
There are no anonymous addresses on this ledger. Behind every account that can hold value stands a verified MID (personal) or MCID (institutional) identity; every write carries a signature with a name behind it.
This is not forensics after the fact — it is a structural precondition. The right to write and the right to enter are the same right. Off-chain, the funds gateway runs "arrival ≠ admission" source screening; on-chain, the allowlist enforces "no identity, no entry." Two doors, guarding one boundary.
How it's audited Concept preview
Three numbers that must always agree
How much sits in the reserve pool, how much has been issued on-chain, and how much all accounts hold in total — reconciled daily, and they must be equal. The on-chain figure is this equation's on-chain end.
Reserve poolPublished at pilot
Total issuedPublished at pilot
On-chain sumPublished at pilot
Reconciliation discipline: daily checks; any discrepancy triggers an alert and freezes issuance; independent reserve attestations are published periodically. The on-chain books corroborate the M Exchange transparency panel, and anchored receipts can be verified offline on the independent verification domain.
Governance & publication Published at pilot
A signpost, not a script
Validator structure, governance charter and the public explorer will be published with the pilot, per formal announcements. This page promises what will be made public — it does not rehearse what isn't decided.
At pilot openingValidator set & governance charter published · public explorer opens
ContinuouslyIssuance, burn & anchoring records queryable · block status in seconds
Each periodArchived alongside independent reserve attestations · permanently traceable
One ledger, holding up a city.
Six things are all it does — and all the foundation the five floors above it need: institutions, identity, receipts, economy, hardware, all resting on one set of books.