TL;DR
- Mean Finance is using Socean Streams to purchase its own liquidity.
- On the 4th of May 2022, 1400 UTC, you will be able to use MEAN-USDC Raydium LP tokens to buy a stream of staked MEAN (sMEAN) unlocking over 14 days (b14sMEAN).
- This allows long-term buyers to purchase staked MEAN at a discount, and allows Mean Finance to own its own liquidity.
We’re incredibly pleased to announce that Mean Finance will be using Socean Streams to purchase their own liquidity. Mean DAO will be selling staked MEAN (sMEAN) to buy Raydium 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. You can find the next evolution of DeFi banking at https://app.meanfi.com.
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 slows down MEAN token inflation, which is healthier for the MEAN token.
Here’s what Michel Triana, CEO of Mean Finance, had to say:
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 is uniquely able to filter out short-term traders and reward long-term holders. There are two types of buyers: long-term supporters of the protocol (HODLer Harry), and 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 allows us 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. As such, they will be willing to pay a higher price for bMEAN compared to short-term traders, and will thus outbid them.
The graph below shows the price that a more patient holder would pay vs. an impatient trader as the bonding duration increases. If the price is anywhere above NGMI Nathan and below HODLer Harry, NGMI Nathan will not purchase bMEAN. Soceans Streams thus allows MeanFi to ensure that only high-conviction supporters purchase its token in this offering.
For more details, see the Socean Streams whitepaper.
Why should I buy b14sMEAN?
Buying bMEAN is a great way to support Mean Finance. If you believe that MEAN is currently undervalued and will appreciate 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.
Here’s what 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.
We’re really excited to be working with MeanFi as they are one of the leading DAOs on Solana. They are a very strong builder team and have an ethos and mission that we at Socean look up to very much!
How do I 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.
Below is an instructional video on how to buy b14sMEAN:
We look forward to seeing you there!
All things Socean: linktr.ee/soceanfinance
