Gasless Dollar-Cost Averaging crypto-currencies with jFIATs on Mean Finance
We are excited to announce that jFIATs have been added to Mean Finance, a state-of-the-art Dollar-Cost Average (DCA) protocol on Polygon, allowing users to purchase any token on Polygon from fiat and jFIATs, at the frequency they desire.
Dollar-Cost Average
Dollar-Cost averaging (DCA) consists in investing a fixed amount of money in the same asset at regular intervals over a long period of time, regardless of the price.
DCA is often cited as an example of a powerful and seamless strategy for building long-term investment positions in stocks or in crypto-currencies. Many centralized exchanges and wallet providers are offering such services to their users, to help them build their portfolios over time.
Mean Finance is the state-of-the-art DCA protocol that enables users to DCA any ERC20 into any ERC20 in a trustless, non-custodial, and gasless manner on Polygon and Optimism!
jFIATs on Mean Finance
By supporting jFIATs and their 0-fee and 0-KYC fiat on-ramp powered by Mt Pelerin on its platform on Polygon, Mean Finance allows users to DCA any token from Euro, Swiss Franc, or British Pound!
In order to create a DCA strategy, users need to deposit jEUR, jCHF, or jGBP in the platform and specify a frequency and an amount. And voila! The protocol will match internally users with the opposite position (for example someone buying WETH with jEUR and someone selling WETH for jEUR); if no position can be matched, or if not the entire positions can be matched, the market makers of the protocol are executing the trades. In our case, they would leverage jFIATs’ secondary markets liquidity (KyberSwap). The platform charges a fee of 0.6% to perform each swap, 0.3% for the protocol, and 0.3% for the market makers executing the trade.
After the completion of the transaction, users can view their positions under the position tab, and can modify and cancel them.
Eventually, they are issued an NFT which represents their current DCA strategy.
About Mean Finance
Mean Finance is the state-of-the-art DCA protocol. Our protocol enables users to Dollar Cost Average (DCA) any ERC20 into any ERC20 with their preferred period frequency by leveraging both Chainlink and Uniswap V3 TWAP oracles.
- Visit: https://mean.finance/
About Jarvis Network
Jarvis Network is a set of protocols and applications on EVM-compatible chains to bridge legacy and decentralized finance (DeFi). Its mission is to build an infrastructure layer that can be leveraged by anyone to develop use cases facilitating the adoption of DeFi, and to build applications to onboard the next billions of users. Its first protocol, Synthereum, pioneers an innovative and capital-efficient manner to issue and exchange synthetic fiat currencies called jFIATs, thanks to a fully on-chain Forex market. jFIATs are stablecoins designed to be usable: they keep their peg, are highly liquid, and are scalable.
- Contact: Pascal Tallarida, pascal@jarvis.network
- Visit our website
