Sentre x MeanFi AMA recap (20th September 2022)
To commemorate Sentre & MeanFi collaboration, we’re hosting a trading contest and an AMA session for both communities. The previous AMA was held on MeanFi Twitter and will be held on Sentre Telegram this time. Check out the recap after the jump!
MeanFi joined Sentre in the AMA section of our Telegram community on September 20th. Read on to learn more about MeanFi from Mr. Eden - Sentre Marketing Manager, and Mr. Moe Iman - MeanFi Head of Partnership and Community Growth.
Part 1 — Introduction Questions
Q1: Can you give us a brief overview of what MeanFi is?
A: Yes. MeanFi is a censorship-resistant, user-friendly, self-custody, permissionless & trustless bank bringing everyday banking workflows and real-time finance to crypto and DeFi.
The Mean Protocol is a set of rules and interoperable smart contracts that help application developers facilitate everyday banking workflows and investment banking operations. One of the key components of Mean Protocol is Money Streams, which provide the payment rails for developers to build real-time finance applications.
The Mean Protocol is maintained by the Mean DAO and is deployed on the Solana Blockchain. As a protocol DAO, our philosophy is Product-Quality and Community-First. Projects and people from across the DeFi space can come together to collaborate and vote to build the best products for the future of finance. Being a DAO means builders, investors, and users all have an aligned economic incentive to move us forward fast while benefiting all parties fairly.
Q2: What makes MeanFi app different from the usual DeFi apps on Solana?
A: That is a great question! Apart from offering a Hybrid Liquidity Aggregator for Token swaps and purchases and DDCA for recurring buys, the Mean app also offers 3 flagship products, namely
- Real-time payment streaming
- Token vesting
- SuperSafe multisig wallet
Q3: How does someone become a MeanDAO member?
A: This gives the holder a voice in the DAO's decision-making and future directions. As of now the DAO has moved on-chain. All proposals that are prepared and approved or even rejected can be seen transparently on Realms: https://app.realms.today/dao/MEAN
We just got one of our big proposals approved today to fund the DAO treasury!
Q4: Besides the governance. What are the utility of $Mean token?
A: MEAN is the governance token of the Mean DAO. It is a token deployed on the Solana Blockchain as an SPL Token for the purposes of governing the Mean DAO. It allows those who hold it to vote on changes to the Mean DAO Protocols and share part of the profits generated by the DAO.
The breakdown is as follows:
- Community & Rewards 40% for community and 30% for rewards - The lion's share of MEAN tokens will go to the community. We want Mean DAO to be owned and run by the community that is invested in the Mean DAO and Mean Protocol projects. Below is the breakdown of how MEAN tokens will be distributed to the community.
- Team & Advisors 20%- Team allocations are set aside for founding team members. They provide direction to the network in its early stages and maintain and upgrade the codebase following governance votes.
You can read more in detail about our Tokenomics here - https://docs.meanfi.com/dao/governance/mean-token
Q5: Can you tell us a bit more about the Proposals and Voting structure of MeanDAO?
A: Yes! We are still early but here is how it is as it stands for now.
To vote you must be an existing MEAN token holder either directly or through one of the derivative instruments where MEAN is locked. The governance mechanism is designed to be flexible and upgradeable over time.
Mean Improvement Proposals (MIPs)
You can exercise your vote in the MeanDAO Governance Portal by voting Against or In-Favor of the published Mean Improvement Proposals (MIP). Some examples of Mean Improvement Proposals (MIP) voted on are:
- Changing protocol and app fees (entry, exit, repayment, deposits, etc.)
- Price oracle changes (where pricing comes from)
- Risk parameters (i.e. liquidation ratio, debt value)
- Incentivized rewards for MEAN tokens
- Listing on CEX, Partnerships, collabs, events, PR, Media and the list goes on!
Part 2 — Questions from the Community
Q1: I saw that Meanfi is the top with that has the most monthly active users on Solana. WHO are your main users, and how can you benefit from them?
A: Yes that is correct. Our users are global, and you can think of Mean app on Solana similar to Uniswap but with more utilities. A user can swap tokens on Mean and get the best price instead of looking through multiple DEX.
They can also set up a recurring buy or Dollar Cost Average strategy and buy tokens weekly, bi-weekly or monthly.
And let's not forget that we currently have over 52,000 payment streams and 190 Treasuries, which means that many projects, investors, and users trust us and our products.
Users benefit in multiple ways from our offerings and remember, being a token holder who is staking also means that you as the token holder also get emissions or revenue from the Protocol fees!
Q2: What kind of services and products have you guys come up with? What MeanFinance is offering right now to the market and users?
A: We offer:
- DEX
- DCAA - recurring buy
- Multi-sig for individuals and projects
- Payment streaming with unlimited use cases
- Token vesting for projects, investors and startups
And a Multisig marketplace. The best way to know is to go and explore the app yourself by accessing: https://app.meanfi.com/. We are also compatible with a few multichain wallets and hence invite all chain users not just Solana.
Q3: Where can I currently buy your token?
A: You can buy our token on Sentre, our app and also on MEXC, Bitmart LAToken
Q4: Do you have an AUDIT certificate? Or are you working to AUDIT your project, so that the security of the project becomes more secure and reliable?
A: We are triple audited by CertiK, Sec3, and Ottersec.
Q5: Is your project A COMMUNITY only for English-speaking, is there any choice for users in other languages?
A: Our app is available in 8 languages and we have a vibrant global community. Join us in our Mean DAO Discord to discover more and make some friends along the way. Just no spamming
About Sentre Protocol
Sentre Protocol is a DApp Store for All Things Solana where:
- Users can install and use their favorite DApps on a single platform;
- Developers and partners can deliver their DApps through Sen Store, fully use available resources and contribute to the platform with no restriction.
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