Overview
MeanFi is a decentralized financial platform designed to revolutionize everyday banking on the DeFi ecosystem, specifically on the Solana blockchain. It aims to provide a self-custody, permissionless, and trustless banking experience, powered by the Mean Protocol. The platform is geared towards offering both regular individuals and businesses the benefits of cryptocurrency and DeFi in their daily banking activities.
Mean Protocol
Overview
MeanFi is a decentralized financial platform on the Solana blockchain, designed to revolutionize everyday banking in the DeFi ecosystem. It seamlessly combines the advantages of cryptocurrency and DeFi, aiming to provide users with a self-custody, permissionless, and trustless banking experience. The platform is tailored to cater to both regular individuals and businesses, ensuring they reap the benefits of decentralized finance in their daily banking activities.
Mean Protocol
Definition
The Mean Protocol serves as the backbone of the MeanFi platform. It is a set of interoperable smart contracts and rules that drive everyday banking workflows and investment banking operations on the platform. The protocol’s primary goal is to empower web3 developers to craft applications that can onboard a vast user base, effectively bridging the divide between traditional finance and decentralized finance.
Features
- Speed and Efficiency: Leveraging the capabilities of Solana, the Mean Protocol delivers transactions that are not only almost instantaneous but also come with minimal costs.
- Universal Liquidity Market: Through the protocol, developers have the privilege to access an aggregated liquidity pool worth over $1.9 billion. This pool amalgamates liquidity from various AMMs and Serum’s CLOB, ensuring optimized routing, reduced fees, minimal slippage, and a favorable pricing impact.
- SPL Streaming: This innovative feature facilitates the time-based exchange of money, making it apt for scenarios like payroll processing, subscriptions, and more.
- Decentralized Dollar Cost Average (DCA): Users can decentralize their investment strategy, allowing for regular investments without the interference of centralized entities.
Features and Specifics of MeanFi
- Self-Custody Banking: MeanFi stands out by allowing users to maintain full custody of their assets, ensuring direct and uninterrupted access to their funds.
- Permissionless Access: The platform is open to all, eliminating the need for exhaustive approvals or background verifications.
- Trustless Transactions: Secured by the robust blockchain technology, transactions on MeanFi are both tamper-proof and transparent.
- User-Centric Design: With a design reminiscent of traditional banking interfaces, MeanFi ensures even DeFi novices find it easy to navigate and transact.
- Universal Liquidity Market: Users and developers can tap into a vast liquidity reservoir, sourced from multiple AMMs and Serum’s CLOB.
- SPL Streaming: Ideal for recurring transactions like salaries or subscriptions.
- Decentralized DCA: A strategy that lets users invest a consistent amount at regular intervals.
- Hybrid Liquidity Aggregation: Combines liquidity from top AMMs with Serum’s CLOB for optimal exchange rates and immediate liquidity access.
- Everyday Banking Features: Supports common banking activities like scheduled transfers and repeating payments, all powered by the SPL money streaming protocol.
Governance and Mean DAO
Mean DAO, the decentralized autonomous organization behind MeanFi and the Mean Protocol, is committed to crafting decentralized products and blockchain infrastructure. This infrastructure aims to level the financial playing field for people and businesses worldwide. The DAO is responsible for funding and operating both the Mean Protocol and the MeanFi web3 app.
On-chain Governance
Governance within the Mean DAO is a collective endeavor. Proposals, ranging from code maintenance to future product releases, are put forth for discussion on the Mean DAO Discord. Once drafted, these proposals are moved to Realms for voting, with MEAN token holders exercising their voting rights.
In conclusion, MeanFi, underpinned by the Mean Protocol, is poised to be a bridge between traditional finance and the dynamic world of decentralized finance. By offering a platform that amalgamates the best of both realms, it aspires to onboard millions of users, setting a new benchmark in the financial domain.
