*obligatory not financial advice*
What is MeanFi?
MeanFi is a DeFi application on the Solana blockchain. Its goal is to make repeated transactions and the trade of cryptocurrencies much simpler.
Solana is a blockchain that has a unique consensus mechanism that allows it to have a ridiculous high speed while maintaining low fees. The chain is not entirely finished and as such it is very much centralized at the moment, but despite that it has gained a lot of popularity in the last year and many promising projects are being built on top of it.
The main feature of MeanFi is its "Money Stream" which allows to set up recurring payments and transactions. This would make it much easier to use cryptocurrency payments for things like rent or salaries. So should crypto really go mainstream and reach a point where they can be used for any everyday transaction, then MeanFi could be used to make it such payments much simpler.
However, obviously it will take at least another few decades before we get anywhere close to that level of adoption, but this can also already be used in DeFi. At the moment such recurring DeFi transactions can be used to set up a dollar-cost-average plan for Solana tokens you want to invest in. You can set weekly, bi-weekly or monthly recurring swaps on decentralized exchanges. Previously, this was only possible on centralized exchanges that have control of your cryptocurrencies if you hold them there, with MeanFi you can set them up on the Solana blockchain with your own wallet that only you control.
The other feature that MeanFi currently offers is its own DEX aggregator. It does not have its own AMM or its own liquidity pools, instead it unites multiple other decentralized exchanges on Solana into a single platform where you can leverage the liquidity of all of them to reduce slippage. This is similar to the 1inch DEX aggregator on Ethereum and Binance Smart Chain. When you make a trade on MeanFi, the platform will automatically look for the best price across all supported Solana DEXes and create the cheapest trade route for you. The DCA tool also works with this aggregator, meaning that you are always DCAing with the best price that you can find on Solana.
MeanFi is offering a few services that makes decentralized trading on Solana more convenient. If more is being built on Solana and more trading is happening on its DEXes, there will be more demand for the services that MeanFi provides.
The MEAN Token
MEAN is the native governance token of MeanFi and its holders are earning a share of the collected fees of the protocol.
There are fees for withdrawing funds from a DCA plan and for using the DEX aggregator. 40% of this fees are used for buybacks of MEAN to distribute it to stakers of MEAN, 30% are going to the development fund and 30% are going to the treasury of the DAO. You can lock your MEAN tokens for up to 3 years and the longer you lock them, the higher your APY will be and the more voting rights you have in the governance.
There is a max supply of 210,000,000 MEAN tokens. 20% were reserved for the team and advisors and are being vested for 3 years, 10% were sold to investors to fund development and marketing and 70% is being distributed to the community thru airdrops and liquidity mining. The supply will be released and unvested over the span of 48 months.
The value of the token depends on how many people use the platform for trading because more users and funds means more revenue for token stakers. DCA is a very popular strategy and Solana is very popular amongst some crypto investors and could have many tokens with long term potential, so there could be a demand for a dApp like MeanFi there. The token is being well distributed and has a good utility. One downside is that the Solana blockchain is kind of centralized which puts the entire network at risk.
The MEAN token can be bought on the MEXC Global exchange. You can also buy it on the Raydium DEX or on the MeanFi aggregator if you have some SOL. You can use a Solflare Wallet to store your token and to interact with the MeanFi platform.
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