Mean Fi’s Decentralized Dollar Cost Averaging Services.
Smart as they are MEAN!
After researching multiple DeFi projects, Mean Dao stood out as a wise choice to invest my time into. When I learned about Mean Dao, I learned that MEAN was a serious DeFi Product. Not just another run-of-the-mill DeFi knock-off, but serious business.
At MEAN Fi, their ultimate goal is to become the best crypto alternative for financial banking. That statement includes an in-depth and detailed roadmap that spells out a very well-planned and exciting new financial service for the Blockchain industry.
Mean has a lot of unique and helpful features, and one of those interestingly helpful features that I had found was their decentralized Dollar-Cost Averaging services, or as they call them, DCAs.
What is a DCA in Blockchain?
DCAs are commonly referred to as a long-term investment strategy where you invest into crypto with small amounts over recurring points in time.
Most centralized exchanges such as Coinbase can allow services to automatically set up periods to buy, swap, or trade tokens at specific times.
Mean’s DCA is different because, unlike the other centralized platforms, Mean’s exchange gives you the ability to do those long-term investment strategies with the benefits of a DeFi protocol.
The MEAN-developed protocol allows you to feel safe and secure with your wallet because Mean Dao doesn’t hold your private keys. Instead, their non-custodial policy allows you to be in control of your private keys and funds so that none of your tokens are frozen or lost by any hacks such as the ones that have taken place in centralized exchanges such as Coinbase.
While Mean’s DCA services are profoundly useful, there are low risks to consider.
Risks to Evaluate
Under extreme market conditions, there is a slight risk involving possible corruption through pricing data on both the Chainlink and the Pyth oracles. This corruption could affect the performance of the DCA service and could result in potential losses for the user. However, this risk is very low since both oracles would have to have their prices corrupted on both oracle’s codebases for there to be an error. In which case, MEAN has the power to shut down the service if so detected!
Payroll Services
Another aspect of Mean Dao financial services is their money streaming protocols.
There are many different ways to use your money on this platform, but one of the aspects that I enjoyed the most from my research into Mean was its payroll system, which can be created by an employer to distribute recurring payments that go to employees at a fixed amount per second. This also can be used for subscription services.
The fact that it has the ability to payout by the second makes the possibilities interesting because it can make paying employees much easier and simpler to manage.
As a bonus, the service is also on a DeFi exchange, so it can be a much safer and much more secure way to handle your monetary budgeting system by keeping it centralized on one dapp.
Closing Views
Throughout all of my research into this project, the fact that whether it is for investments or payments, it can be seamlessly funneled into recurring streams over an extended period, for both their dollar-cost average system and their payroll services.
All of these added benefits make me feel that Mean is a great upcoming DeFi project that has a lot of cool and unique features that could turn investments that you make into Mean, into a Mean, lean, investing machine!
To learn more about MEAN Fi Visit their Medium or go to their website at https://docs.meanfi.com/dao/the-dao
You can also visit Beta Syndicate’s Review “MEAN Fi Will Shock You!”
