AI x crypto infrastructureIllustrative dataNot verified · no bond

Meridian AI

Decentralized compute marketplace for model inference.

Last updated Sep 29, 2026

NOTR verdict

Not yet

Saying ready: Voters 46% · Open poll 42%

Illustrative data. Meridian AI is a fictional example project for demonstration purposes only.

Not investment advice. NOTR publishes public data, analysis, and risk signals — never a recommendation to buy, sell, or hold.

Market cap: $132M
30d volume: $28M
Holders: 46.9K
Launch date: Jun 5, 2025
Chain: Vektor Network

NOTR verdict · Should this project launch?

Not yet

Contested

Voters see open questions. The project can answer them and be voted on again.

At launch, the verdict is written by the NOTR team on public facts. As verified analysts join and earn rating for right calls, their weighted votes take over.

Verified voters2 of 5 say ready

Ready 46%Not yet 54%No 0%

Open poll1,010 votes

42% say ready. Anyone can join this poll, but it is not verified and never changes the verdict.

Cast your vote

Evidence checklist: 1 of 8 checks met (what analysts start from, not the verdict)

Is it safe?

Passed, with 2 warnings

No hard check failed. Soft checks are shown as warnings.

Entry checks →

Is the price and structure fair?

5 attention marks

Thin float · Big jump over the last round · Big unlock ahead · A promise was missed · Questions unanswered

Price & structure →

Does it keep its word?

3 of 5 promises met

1 missed. Reply to our questions: no reply.

Promise ledger →

Step 0 · Entry

Entry checks

Automatic checks of what can be verified from public data, run before anyone votes.

Contract source verifiedDecides entry
Source verified.
Pass
No hidden mint or admin keysDecides entry
Upgrades are behind a multisig.
Pass
Token can be soldDecides entry
Transfers are unrestricted.
Pass
Official links match the contractDecides entry
Links match the deployed contracts.
Pass
Audit publishedShown as a warning
The compute-matching contracts have not been audited.
Fail
Team can be identifiedShown as a warning
Most of the research team is pseudonymous.
Warning
Supply and vesting are publicShown as a warning
Unlock schedule published.
Pass

These checks run automatically on public data, before any review is written. A failed hard check keeps a project off the main list. Warnings stay visible, and the verdict weighs how much they matter.

Voters

Who voted, and what they staked

Every voter is a verified person with a public rating. Each puts reputation on the line with their call, and their reasons are public.

Ada LindgrenAnalyst · 2,140
Smart-contract security · 17 of 20 past calls right
140 REP stakedNot yet
The compute-matching contracts have not been audited by anyone yet.
Rina TakahashiAnalyst · 1,650
Onchain forensics · 14 of 19 past calls right
120 REP stakedReady
Real inference jobs settle onchain every day, which shows actual demand.
Dmitri VolkovMember · 980
Market structure · 9 of 15 past calls right
100 REP stakedReady
Demand comes from named AI teams that pay for compute, not anonymous wallets.
Sara QuinteroAnalyst · 2,310
Team background checks · 19 of 26 past calls right
80 REP stakedNot yet
Most of the research team uses pseudonyms, so their experience cannot be verified.
Noor HaddadAnalyst · 1,870
Treasury and finance · 15 of 18 past calls right
40 REP stakedNot yet
The revenue split is described in the docs but has not been reported yet.

How votes are counted

Every voter is a passport-verified person with a public nickname and a rating (REP).
To vote, a person stakes part of their REP on the call. Nobody votes for free.
When the facts come in (promises kept or broken), people who were right gain REP, and those who were wrong lose what they staked.
The more REP staked, the more the vote weighs. All Newcomers together count for at most 25% of the total, so a crowd of new accounts cannot decide a verdict.

Concept with invented analysts and numbers. The exact rules need design and legal review.

Your vote

Should this project launch?

Verified people vote. Every vote needs a written reason and a staked rating, and stays sealed until the window closes.

Preview, votes are not saved

Is Meridian AI ready to launch?

Only passport-verified people can vote, one account per person. You start as a Newcomer with 100 rating. Newcomers together carry at most 25% of the total weight, and your weight grows as your calls turn out right.

1. Your vote

2. Why? Required.

Write at least 60 more characters.0 / 60

3. Reputation you stake: 50 REP

Your rating is 100, so you can stake at most 50 REP, half of it. If the facts prove you right you gain 60% of the stake. If you are wrong the stake is burned. A higher rating means a bigger possible stake and a heavier vote.

4. I do not hold this project's token and have no link to its team.Hidden conflicts found later mean a ban and loss of rating.

No reason, no vote. At least 60 characters, so a bare “yes” or “no” is not accepted. Votes stay sealed until the window closes.

Open poll

What readers wrote

Anyone can comment and join the open poll. It is not verified and does not change the verdict.

compute_curiousCommunity · Sep 25, 2026
Settlement has been fast and cheap every time I've used it.
0xSdkWaitingCommunity · Sep 13, 2026
Still no SDK, makes it hard to build anything serious on top of this.
anon_quantCommunity · Aug 28, 2026
Watching the December unlock closely, that's a lot of supply at once.

Attention marks

Thin float backed by our data
Only 10% of supply traded at launch. In our backtest, 17 of the 18 launches with under 15% on day one ended below their first-day price (median -85%).
Big jump over the last round not yet testable
Opened at 5x the valuation of its last private round. Not yet testable: private round prices are not in any free dataset, so we record them in every review.
Big unlock ahead not yet testable
27% of supply unlocks within the next 12 months. Not yet testable on past launches: public price data does not track unlocks, so we record the calendar in every review.
A promise was missed recorded fact
1 of 5 dated promises in the ledger are marked missed.
Questions unanswered recorded fact
The project did not reply within the 7-day window.

Marks point at structures that have hurt buyers before. They do not remove a project from the list, they are not a forecast, and they never replace the verdict. How each mark was tested

The price

Opening valuation (FDV)

$900M

Last private round

$180M

Series A, Dec 2024

Jump over the last round

Valuation / yearly revenue

429x

Revenue $2.1M a year

The supply

Trading at launch

10%

Share of total supply

Unlocks in next 12 months

27%

Share of total supply

The full unlock calendar, in dates and amounts, is on the Onchain & whales tab.

Who paid what

Group	Share of supply	Paid vs opening price	Lock-up
Public buyers	10%	1x	None
Investors	24%	0.12x	6-month cliff, then monthly over 18 months
Team and advisers	18%	–	6-month cliff, 24-month vesting

A group that paid 0.2x of the opening price is sitting on a five-fold gain from day one. That is not wrong in itself, but buyers should know it and know when that group can sell.

What similar launches did

Launches with an opening valuation over $300M

20 launches · 80% below first-day price · median −57%

Launches with under 15% of supply trading on day one

18 launches · 94% below first-day price · median −85%

From our backtest of real launches, as context for Meridian AI and never as a forecast. Explore the data

Who is behind it

About Meridian AI

What it does, who runs it, and where to reach them.

Meridian is a marketplace where people with spare computing power rent it to teams that run AI models. Payments settle onchain. CEO and CTO are public, much of the research team is not.

Ticker: MRD
Founded: February 2025
Legal entity: Meridian Compute Inc.
Jurisdiction: Delaware, USA

Team

Aiden BrooksIdentity verified
Co-founder, CEO
Ex-product lead at a cloud GPU provider.
Yuki NakamuraIdentity verified
Co-founder, CTO
Machine-learning infrastructure engineer; published inference papers.
Pseudonymous researchersNot verified
Research
Most of the research team uses handles only.

Placeholder contacts for a fictional project. Real pages will link to the project's own, checked accounts.

Market

Market cap

Weekly, illustrative market cap over the trailing 6 months.

Market cap

$132M+31.8%

Promise ledger

What the project promised, and what happened

Dated, measurable promises published by the project. When the date passes, the facts decide who was right, and ratings change.

Mainnet launch
DoneJun 5, 2025
Shipped on the announced date.
Onboard 10 compute providers
DoneSep 1, 2025
12 providers onboarded, ahead of target.
Publish settlement-layer audit
DoneNov 1, 2025
No critical findings; one low-severity finding resolved.
Ship developer SDK
MissedJun 1, 2026
Originally promised for Q2 2026; now 4 months late with no public date.
Audit the compute-matching contracts
In progressJan 1, 2027
Scoped with an auditor; work has not yet started as of this page's last update.

Voting history

How past polls ended

Meridian AI has 3 closed polls on whether a specific, measurable milestone was met. 2 of 3 ended as “Met”. Each result is shown next to what the public record says, so you can see when the crowd and the facts agree.

Share of votes saying “Met”, by poll (oldest to newest)

Did Meridian ship the developer SDK by the end of Q2?
Not met
Met 5%Unsure 16%Not met 79%770 votes · closed Jul 8, 2026
Public record: The SDK is now four months late with no public date.
Were 10 compute providers onboarded by September 2025?
Met
Met 84%Unsure 10%Not met 6%500 votes · closed Sep 12, 2025
Public record: 12 providers were onboarded, ahead of target.
Did the team publish the settlement-layer audit?
Met
Met 85%Unsure 10%Not met 5%460 votes · closed Nov 10, 2025
Public record: Published with no critical findings.

Illustrative preview. Voting is not open yet. Votes are weighted by each voter's track record, and they never change the evidence checklist. It changes only when public data changes.

Right of reply · No response yet

Meridian AI was invited to respond to this page on Sep 22, 2026 and has not yet replied.

NOTR analysis

Our written breakdown

Green and red flags identified from the public record, with what would change the picture.

Green flags

Compute jobs settled onchain have grown steadily every month since mainnet.
Source: Onchain explorer
CEO and CTO are verified with a public track record.
Source: Project website
The settlement layer has been independently audited with no open critical findings.
Source: GitHub repository

Red flags

The compute-matching contracts — which route payments — have not been audited.
Source: GitHub repository
A majority of the research team remains pseudonymous.
Source: Project website
A promised developer SDK is 4 months late with no new date given.
Source: Project website

What would improve the checks

Complete an independent audit of the compute-matching contracts.
Publish a treasury spending report.
Give a firm date for the overdue developer SDK.

Checklist

Evidence checklist

The 8 things NOTR checks in public data. Each one is marked met, partly met or not met. There is no total number, because a total would hide which check failed. Analysts start from this list. It supports their vote, it does not replace it.

Onchain activity

Transaction volume, active wallets, and contract usage trends over the last 90 days.

Met

Compute jobs settled onchain growing steadily since mainnet launch.

Source: Onchain explorer

Team verified

Whether core contributors have confirmed, cross-checked identities and a track record.

Partly met

CEO and CTO verified; a majority of the research team is pseudonymous.

Source: Project website

Code audit

Coverage and severity of findings from independent smart-contract audits.

Partly met

Settlement layer audited; the compute-matching contracts were not.

Source: GitHub repository

Tokenomics and unlocks

How concentrated supply is and whether the vesting schedule is public and being followed.

Partly met

Team and investor unlocks are front-loaded in the first 12 months.

Source: Onchain explorer

Kept past promises

Share of publicly committed roadmap milestones the team actually delivered on time.

Partly met

Mainnet shipped on schedule; a promised SDK release is 4 months late.

Source: Project website

Treasury transparency

Whether treasury wallets are disclosed and spending is reported on a regular cadence.

Partly met

Treasury address known; no formal spending report published yet.

Source: Onchain explorer

Legal structure

Existence of a named legal entity, jurisdiction, and terms covering the token or product.

Partly met

Entity named in the whitepaper; jurisdiction not specified.

Source: Project website

Manipulation signals

Wash-trading, coordinated social activity, and other red flags detected in market data.

Partly met

Some correlated buy activity around exchange listing announcements.

Source: Exchange listings

Met: clear public evidence. Partly met: some evidence, with gaps. Not met: the evidence is missing or points the other way.

Sources

Project website
Reviewed the whitepaper, docs, and public compute-job dashboard.
GitHub repository
26 contributors; settlement layer is open source, matching engine is not.
Onchain explorer
Settlement transactions and treasury wallet checked over 90 days.
Exchange listings
Trading activity reviewed around each of the project's three listings.

Market cap: $132M
Circulating supply: 45.5M MRD
30d volume: $28M
30d volume / market cap: 21%
Liquidity depth: $3.1M
Tightest spread: 31 bps

Market cap

Weekly, illustrative market cap over the trailing 6 months.

Market cap

$132M+31.8%

Where it trades

Cobalt Exchange carries 26% of 24h volume. Wide spreads and thin depth on a venue mean the volume there is easier to move.

Venue	Type	Pair	24h volume	Share	Spread	Depth ±2%
Cobalt Exchange	CEX	MRD/USDT	$243K	26%	48 bps	$403K
Tidepool	DEX	MRD/USDT	$227K	24.3%	31 bps	$377K
Northgate	CEX	MRD/USDT	$200K	21.5%	56 bps	$333K
Lanternswap	DEX	MRD/USDT	$174K	18.7%	40 bps	$290K
Harborex	CEX	MRD/USDT	$88.4K	9.5%	50 bps	$147K

Venues are fictional examples. Real project pages will list actual exchanges with data from public market APIs.

Supply and unlocks

Cumulative share of total supply unlocked over time.

10%

Jun 25

Seed round cliff

22%

Dec 25

Team unlock tranche 1

34%

Jun 26

Team unlock tranche 2

49%

Dec 26

Investor unlock tranche

61%

Jun 27

Team unlock tranche 3

Already unlockedScheduled

Weekly active wallets

7.8K+148.8%

Weekly onchain volume

$9M+120.2%

Top 10 holders

Addresses are fictional. On real pages every labeled wallet links to a chain explorer.

#	Wallet	Label	% of supply	30d change
1	4zbQ…Bwek	Foundation treasury	12.8%	-7.2%
2	1Jrq…G33u	Team vesting contract	10.2%	+10.9%
3	Yqi2…nU4q	Exchange cold wallet	7.9%	+8.1%
4	E7R2…uzYZ	Investor wallet A	6.4%	-4.7%
5	5pCd…qHUh	Market-maker wallet	5.2%	-1.3%
6	3QEu…Xx7L	Investor wallet B	4.4%	-5.5%
7	wAMQ…nStN	Ecosystem fund	3.6%	+9.4%
8	mKnE…hVrj	Unlabeled wallet	2.9%	-10.1%
9	sfo2…h9A8	Unlabeled wallet	2.4%	-6.2%
10	JjAA…qyPd	Unlabeled wallet	2.0%	-5.6%

Holder concentration

58%held by the top 10 wallets — high concentration

Top 10 holdersEveryone else

Liquidity depth

$3.1M

Treasury runway

14 months

Recent large transactions

Wallet	Type	Value	Date	Note
3xPq…7Kd2	Sell	$247K	Oct 2	Team-linked wallet
6mJv…1Hs9	Buy	$122K	Sep 28	Unlabeled wallet
9cRt…4Wn5	Transfer	$435K	Sep 22	Investor wallet → exchange deposit
2hLf…8Yq1	Sell	$174K	Sep 16	Unlabeled wallet
7bNx…3Gc6	Buy	$81.2K	Sep 8	Unlabeled wallet

Illustrative data. Meridian AI is a fictional example project for demonstration purposes only.

Not investment advice. NOTR publishes public data, analysis, and risk signals — never a recommendation to buy, sell, or hold.

How it works

Is it safe?

Is the price and structure fair?

Does it keep its word?

Then one verdict

Meridian AI

Not yet

Entry checks

Who voted, and what they staked

How votes are counted

Should this project launch?

Is Meridian AI ready to launch?

What readers wrote

About Meridian AI

Team

Links and contacts

Market cap

What the project promised, and what happened

Mainnet launch

Onboard 10 compute providers

Publish settlement-layer audit

Ship developer SDK

Audit the compute-matching contracts

How past polls ended

Our written breakdown

Green flags

Red flags

What would improve the checks

Evidence checklist

Sources

Market cap

Where it trades

Supply and unlocks

Top 10 holders

Holder concentration

Recent large transactions

AI analyst