Mean Finance Joined Socean Streams
Mean Finance, a Self-Custody, Permissionless & Trustless Banking on Solana, joined Socean Streams to purchase its liquidity.
Users will be able to use MEAN-USDC Orca LP tokens to buy a stream of staked MEAN (sMEAN) unlocking over 14 days (b14sMEAN) on May 4, 2022 1400 UTC. Allows long-term buyers to purchase staked MEAN at a discount and allows Mean Finance to own its liquidity.
Socean Finance is incredibly pleased to announce that Mean Finance uses Socean Streams to purchase its liquidity. Mean DAO will be selling staked MEAN (sMEAN) to buy Orca MEAN-USDC LP tokens.
What is Mean Finance?
Mean Finance is a DAO focused on bringing real-time finance to people and businesses worldwide through everyday DeFi banking powered by Mean Protocol.
Why is Mean Finance using Socean Streams?
Socean Streams allows Mean Finance to secure deep MEAN-USDC LP liquidity and diversify its treasury. Streams also slow down MEAN token inflation, making it healthier for the MEAN token.
Michel Triana, CEO of Mean Finance, said:
By acquiring MEAN-USDC LP for the Mean DAO Treasury we guarantee we eat our own dog food by securing MEAN token liquidity for market makers, traders, buyers and sellers forever in all market conditions (bull or bear). This majorly increases market confidence in the long-term health of Mean DAO and our governance token. Using Streams also diversifies our Treasury and gives community members holding a long term view on Mean DAO a way to extend their support while benefiting from a discount. It’s a win-win-win for the DAO, our community, and the market.
The Streams Advantage: Rewarding Long-Term Holders
Socean Streams can filter out short-term traders and reward long-term holders.
Two types of buyers:
- long-term supporters of the protocol (HODLer Harry)
- people who are only interested in short-term price action (NGMI Nathan).
If Mean Fi sold MEAN to buy LP tokens on the open market, both long-term holders and short-term traders would buy MEAN.
Streams allow them to make sure only long-term holders get to buy MEAN at a discount. Long-term holders have a lower discount rate (they are more patient) than short-term traders. They will be willing to pay a higher price for bMEAN compared to short-term traders and will thus outbid them.
Why should holders buy b14sMEAN?
Buying bMEAN is a great way to support Mean Finance. If you believe that MEAN is currently undervalued and will appreciate it in the future, you can buy bMEAN and, in return, get a better price for doing so. By buying bMEAN, you will also help Mean Fi secure MEAN-USDC liquidity.
Krzysztof P., CFO of Mean DAO, had to say about Socean:
The Socean team has produced some of the best research covering tokenomics, bonding and treasury management in Solana. When you couple that with a deeply technical team and a great collaborative attitude, we couldn’t be happier to work together.
How do to buy b14sMEAN?
b14sMEAN will be available for purchase on the 4th of May 2022, 1800 UTC+8. Go to https://socean.fi/app/streams to buy b14sMEAN.
Socean Finance is excited to be working with MeanFi as they are one of the leading DAOs on Solana. They are a powerful builder team and have an ethos and mission that Socean look up to very much!
About Mean Finance
Mean Finance finds you the best prices across multiple DEXes by optimizing routing, fees, slippage, and pricing impact.
About Socean Finance
Socean is a fully autonomous, fully transparent algorithmic stake pool on Solana. They are committed to unlocking the value of staked SOL for use in the Solana ecosystem, improving staking returns for our users, and increasing decentralization on the Solana network.