What is MeanFi?

Are you tired of struggling with the complexities of managing your crypto assets? Do you find it overwhelming to keep up with the constantly evolving world of DeFi? If so, you'll be pleased to learn about MeanFi – the platform that simplifies crypto treasury management.

One of the major advantages of MeanFi is that you don't need to be an expert in coding or finance to take control of your crypto assets. The platform is designed to make financial operations easily organized and accessible for everyone, regardless of their background or expertise. This means you can focus on creating the most awesome project, while MeanFi takes care of managing your crypto assets.

Think of MeanFi as your trustless DeFi bank. You can create your own vault, manage thousands of accounts with thousands of crypto assets, and it doesn't require KYC. The platform provides a range of features, including cash management, liquidity management, investment management, and risk management, all of which can be accessed through a user-friendly interface.

Your assets are as safe with the MeanFi vaults. No one, not even the government, can have access to what's inside apart from yourself and the signers you appoint. What you do with your crypto is your business and no one else's. 

MeanFi has never been hacked. One of the reasons is that the MeanFi protocol is being closely monitored by the Mean DAO, a community of MEAN token holders with a vested interest to keep the protocol secure and private. Anyone can hold MEAN tokens and get involved in the governance process. This guarantees that MeanFi stays decentralized to the bone.

Mean DAO generates a stream of revenue from each interaction users have with their MeanFi vaults. These small fees are paid in SOL and go to the protocol Treasury. MEAN token holders get to vote on where to allocate the Treasury funds i.e. paying for the development, grants and future initiatives. With a steady flow of income, MeanFi can sustain its operations for a long time and keep users' assets protected against malicious attacks.

Even if the DAO gets exploited, users' vaults remain safe as they are isolated from the governance structure. At worst, the treasury gets depleted and developers will have to take a part time job at McDonald's to make ends meet. For the multisig specifically, there are two main risk: smart contract bugs and oracle exploits.

When using smart contracts, there is always a tiny chance that an error gets unnoticed. This is why the external code has been audited by experts. The MeanFi team also follows a strict procedure of testing before deploying updates. Any responsible DeFi user should be aware of these risks before proceeding to use protocols.

Another risk involves price oracles. Even though MeanFi uses Chainlink and Pyth oracles, under certain extreme market conditions pricing data could be corrupted on BOTH oracle networks and therefore affect the execution of your financial operations. The risk of this happening is low, but if it did happen, it could trigger a swap that results in a potential loss of funds for the user.

With the safety considerations out of the way, let's see what MeanFi has to offer.

How does MeanFi work?

The MeanFi protocol is a set of smart contracts that facilitate everyday banking workflows and investment banking operations. Its core structure is based on the multsig model to which MeanFi has added payment streaming.

Multisig wallets, as their name implies, require at least 2 signatures in order to approve a transaction. These signers are typically other individuals or entities that you trust, such as business partners, family members, or colleagues. When you want to send a transaction, the multisig wallet requires that a predetermined number of signers approve the transaction before it can be executed. This helps to ensure that no single individual has full control over the funds and reduces the risk of fraud or theft. Entities like DAOs and an overwhelming number of crypto projects use multisig wallets to manage their treasuries in a decentralized manner. 

Payment streaming represents the idea of continuous payments over time. It works by creating a stream of payments that are automatically sent to a designated wallet address at predefined intervals. To make the feature work, time between payments is measured in blocks mined rather than seconds. While we say a payment is made every month, for the Mean protocol this translates into "X blocks mined." Because MeanFi is deployed on Solana, blocks are mined very fast and efficient. This makes MeanFi fit for recurrent payments.

MeanFi payments ca be customized based on the type of payments. For example, users can set up an open account for indefinite payments. When the treasury runs out of money all streams stop running until it gets replenished. After replenishing the treasury, all paused payment streams can resume their operation.

With a locked treasury you can set up payment streams with additional restrictions and conditions. For example, you can introduce a vesting period for investors' token allocations. Tokens are still credited to their account based on a monthly/yearly basis.

How to make money on MeanFi?

MeanFi is a payment streaming protocol, which means there is no direct way to profit from using the protocol. 

Price Prediction for MeanFi — Can it hit $1000?

Buying and hodling MEAN — the native token of MeanFi — is one way of potentially making money on MeanFi.

By looking at its current price, it’s natural to think about the chance of MEAN hitting $1000 per token. This can happen sooner, or way in the future, and is determined by a couple of ever changing factors.

Let’s examine the potential growth of the MEAN token by analyzing its tokenomics. MEAN’s current market cap sits comfortably at ${MARKET_CAP}. With {CIRCULATING_SUPPLY} MEAN tokens being in circulation today, that means a price of {PRICE} per MEAN.

How did we come to that calculation? It’s quite easy, the price of a MEAN token is equal to its current market cap divided by the number of tokens in circulation. Dividing ${MARKET_CAP} by {CIRCULATING_SUPPLY} gives us a result of {PRICE} for each MEAN coin. 

By changing the order in the simple formula above we can use it to calculate other things as well. This helps us a lot because we can deduce the market cap of MEAN at different token prices. Then, we can use the result to compare it to the current state of the network and see what would be required for MEAN to hit that price.

At a price of $1000 per token, that means the current market cap of MEAN would equal ${{CIRCULATING_SUPPLY} * 1000}. Remember that we arrived at this number by multiplying the amount of circulating tokens by $1000.

Now let’s shift our attention to the fully diluted market cap.

Some blockchains may have their tokenomics built in a way that only a small percentage of tokens are circulating at the beginning. This can be misleading because we don’t have the full picture and only take into account the current number of coins released in the market.

The fully diluted market cap represents the total value of a coin if all tokens were in circulation. MEAN’s whole supply of tokens is {MAX_SUPPLY - TOTAL_SUPPLY + CIRCULATING_SUPPLY} MEAN which means that no more coins above that number will ever be created.

These tokens are not created at the discretion of a specific entity. They are created automatically by the network to reward different actors that keep it secure.

How does this impact the price of MEAN? Taking into account the current price of a MEAN token, that would result in a fully diluted market cap of ${MAX_SUPPLY - TOTAL_SUPPLY + CIRCULATING_SUPPLY * PRICE}. MEAN coins that have been burned are not taken into consideration because they have been permanently removed from circulation.

Whether it seems gigantic or not, the number we came to above only takes into account the current price of a MEAN token. Doing the same calculation but with a price of $1000 gives us a result of ${{MAX_SUPPLY - TOTAL_SUPPLY + CIRCULATING_SUPPLY} * 1000} for the MEAN protocol fully diluted market cap.

These are all crucial details to know when calculating if MEAN can reach the price of $1000 per token. If the diluted market capitalization is way too high, the token has little room left to grow. Blockchains in general have no cap on the value they can reach, whether that number seems possible it’s totally up to you.

The future of MEAN depends solely on its growth as a network used by tens and hundreds of millions of users.

If you’re looking to add some MEAN to your portfolio, the most trusted places to get some are Binance and Coinbase.