Why I’ve Chosen MeanFi for my daily transactions on Solana Network?

Disclaimer : This note is only based on my experience. It is not a financial advice at all. You should carefully do the sufficient research yourself before using any platform in crypto world. Also I should mention that I’m not a representer of MeanFi Team.

I’m a daily user of cryptocurrency world, everyday I use different networks and platforms to perform transactions, using dapps, transfer money and etc. When it comes to Solana network, (as well as other networks) you have a lot of choices for your daily works. But MeanFi is one of my most favorite platforms, and here is why:

Optimized Transaction Speed

Transaction speed actually can be one of the most important criteria for every crypto world active user. If you want to do a lot of work in a day you should choose the fastest platforms, And according to my experience MeanFi can be of the best candidates.

Exchange Small Amounts

For me, as an active user with few money, it is so important that the platform I use supports transactions of small amounts. In the solana network, you have a lot of choices for your work, but in MeanFi platform you can exchange almost every amount, even 2 cents!

Recurring Exchange Feature

And here we have one of the most interesting, unique and useful features of MeanFi. For any reason, if you want to have any transaction to be repeated over a period of time, MeanFi is your only choice.

As you can see in the following image, you have three choices now (that I think will expand in the future): every week, every two weeks and every month

What can we do with recurring transactions?

Assume that you’re not a professional crypto market trader of investor, but somehow you’re interested in investing a small part of your money into this market. Also, for now you don’t have much money resource so you can’t put a lot of money in the market at once. Hence, the best solution for you is the DCA (Dollar Cost Averaging) technique. DCA also is one of the most accepted and favorite ways that HODLers use in their investments. So we can say that DCA is not only can be used for beginners, but also a lot of professionals use this method as a means of portfolio and risk management. A lot of HODLers use this method regardless of price moves and only based on time periods. For example I do some buys when I get my monthly salary, and enter a fixed percentage of my salary regardless of the price on a monthly regular basis.

If you want to use this technique you must invest your money in the market with buying your target tokens whenever it is available for you.

To do so, every time you want to put some money in the market you should head to an exchange, put some money into it and perform your transaction, and it is not the end! you should also transfer your money back into your wallet if you consider security concerns. Actually this a long way for me :) and with MeanFi protocol it will be much easier for you to do so. MeanFi is one of the very few protocols on Solana ecosystem that has this feature. You should just do the proper setting at the first and after that the entire process will be handled by MeanFi. Enjoy it!

Money Stream Feature

This is another amazing feature in MeanFi. You can send money from your wallet (phantom, slope and …) to any other wallet you want. But if you want to send money repeatedly, MeanFi is the only choice you have.

In MeanFi you can have recurring money transfer on different periods: every year, every month, every week, every day, every hour and even every minute. You can specify a date for money stream to begin and also you can add a memo for the recipient.

What can we do with Money Stream Feature?

I believe that this the most amazing feature in MeanFi, So lets head over my opinions and the ways you can benefit from this feature:

1- Assume that you borrowed some money from one of your friends and you want to pay it back on a monthly basis. So every month you should have a reminder for this tasks and for any reason in some months you may forget to do so. Here is one of the usages of this feature, you can set the proper settings once and define the time period and amount, and then rely on MeanFi for the rest of the tasks :)

2- Assume that you are an employer and you want to pay salaries to your employees on a regular basis. This feature can help you to pay money monthly, weekly or even hourly :)

3- You own a crypto platform that want to pay some token airdrops to your early adopters, but if you pay the whole tokens at once, some of them may lose their motivation and loyalty to your platform and bounce. This is the way that also used by MeanFi for airdrop allocations, it keeps the fire of motivation flaming for myself too ;) to keep on being an active member community.

4- There are lots of more use cases of this great feature you can benefit from, like paying insurance or loan payments, subscription payments or any other recurring and continuous payments you may have.

Both Custodial and Non-Custodial

In the MeanFi you have two options. first it is available for you to do your transaction directly from your wallet (Non-Custodial) and also you can deposit money in the platform (For example in case you want to use Fiat currency and you don’t have access to a Solana wallet.

Routing Options

Routing option is very important and useful for me. For each transaction I have, I wanna choose the route that I prefer based on different criteria such as speed and transaction fee, and In MeanFi I have access to this feature.

Strong and Active Community & Partnerships

At last, but not least!
For all of those who are active in crypto world community and project partners can be really important from different aspects. A project that has strong partners (and also looks for more partners) shows that the project and team is alive and progressing. Also with more partners you can expect more features in the future that can help you more in your tasks.
And about community; In MeanFi community (specifically Discord server) you can find a big, kind, reliable and every moment active community. There is no fear when you face a problem, bug or issue, as you can be confident that the community supports you very quickly.
The community maybe can be one of the most important aspects of MeanFi for me, I’m so comfortable that I can reach out there, speak up and talk about any issue, feature or improvement.

All the content in this article was my opinion. I hope it can help you to make a decision about the platform you wanna use for your daily work. And here are some useful links about the project:

Website | Discord | Twitter | Blog

Hope you have a great experience with MeanFi, like me :)

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MrNarenji

MrNarenji

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