Mean DAO announces that they have raised $3.5 million on a strategic round from some fantastic investors and builders. Three Arrows Capital, SoftBank’s SB Opportunity Fund, and DeFiance Capital led the round, with incredible support from Skyvision Capital, Solar Eco Fund, Sesterce Capital, Big Brain Holdings, Gerstenbrot Capital, a41 Ventures, Solanium Ventures, MEXC, PrimeBlock Ventures, Gate.io, LPI, Akshay from Solana Labs, Tanmay from SuperteamDAO, and Norbert from Synthetify.

— Shu Nyatta, Managing Partner for SoftBank’s SB Opportunity Fund

Global cryptocurrency users are growing exponentially, but there remains a lot to be demystified for the average consumer. Our investment in MeanFi is an investment in bridging this knowledge gap and empowering the average user to take advantage of decentralized finance.

— Arthur Cheong, Founding Partner at DeFiance Capital

At DeFiance Capital, we invest in DeFi eating traditional finance. It was a no-brainer when we came across MeanFi and the brilliant team — Michel & Eydel — who had the exact vision of working on the problems we saw in TradFi. Mean Protocol is seeing explosive growth on Solana and DeFiance is proud to back the team in their quest to bring in the next Billion users into crypto.

— Kyle Davies, Co-Founder of Three Arrows Capital

MeanFi has been building relentlessly and we are impressed by their team and product. We are excited to support them in their efforts to build a DeFi banking infrastructure that can serve as the financial equalizer for users worldwide.

A Shared Mean Vision

The new capital will help the recently formed Mean DAO expand its Money Streaming operations and partnerships across Solana and onto a multi-chain future.

From the very beginning, they set out to build the bridge between TradFi and DeFi to onboard the next One Billion users onto crypto. As part of this journey, they have created the tools to make assets more liquid, capital-efficient, and composable.

Having the strategic support of the most influential investors across crypto with Three Arrows and DeFiance, as well as one of the largest funds across traditional finance through SoftBank’s SB Opportunity Fund, means we’ll be able to accelerate how quickly we realize this vision together, for the community and the entire ecosystem.

The Future of DeFi

They first launched Mean Protocol as a set of rules and interoperable smart contracts to help application developers facilitate everyday banking workflows on their protocols and web3 apps. The Money Streaming and DCA programs power most of the value that moves through the Mean Protocol with an unmatched level of automation in DeFi.

Things like receiving your salary as a Money Stream, which at the same time accumulates interest-yielding value you can access on every passing second, are now possible because of Mean Protocol.

Completing composable workflows like “Take 20% of my salary money stream, pipe it to a lending protocol, borrow 50% of it in USDC, swap it to SOL, and stake 100% of it” are also now possible in completely automated ways thanks to Mean Protocol Money Streams.

Any project, company, or product can leverage these on-chain smart contracts to supercharge their app and protocol interoperability and build better, more liquid, and more capital-efficient financial infrastructure for their users.

They also launched MeanFi, a self-custody, permissionless, and trustless bank powered by the Mean Protocol, bringing Crypto and DeFi to everyday banking. It is both the starting gate for TradFi retail banking users and investors into DeFi, as well as a showcase of the things you can build with Mean Protocol for other developers.

Mean Growth

Because of these fantastic launches, they have grown a lot since they started this journey, and they now serve more than 31k individual accounts with 1.8k daily active users running thousands of transactions every single day. They are a super-engaged DAO community with 19k members and a fierce army of 29k Twitter followers. To say they have experienced meteoric growth is an understatement of what has happened thus far.

— Patrick Wu, Partner at SkyVision Capital

The vision of MeanFi to onboard the next billion users into the crypto economy by making DeFi extraordinarily user-friendly and effortless is filling a huge gap in the ecosystem. The Mean Protocol powers a great deal of DeFi automation with money streams that will change the way developers build the web3 future. We are super proud to support this team.

Mean DAO is a global organization with users, DAO members, and partners distributed across the world on every single continent. We’re delighted that we have backers from Asia, Europe, Australia, Latin America, and the United States to take part in the organization. This diversity guarantees that every region has proper representation in the DAO’s governance voting, reputation, and merit systems, with voting power that’s diverse, knowledgeable, and aware of the latest developments in every corner of the world.

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