Credix & Mean — Blog 2: Treasury Management Best Practices:

Treasury management best practices
  1. “Good Security + Usability at the cost of Privacy → Coinbase, Kraken, Celsius (all custody solutions)
  2. Good Security + Privacy at the cost of Usability → All hardware wallets (Trezor, Ledger, etc.), and all web institutional web wallets like Fireblocks, Gnosis, Coinbase Institutional Custody, etc.
  3. Good Usability + Privacy at the cost of Security → MetaMask, Phantom, and most popular software wallets”
  1. Security: The SuperSafe uses a threshold multisig with signatories storing their respective private keys on secure devices. Thus, an attacker would need to force a majority of the individuals to sign a proposed transaction and / or break through multiple layers of cryptographic security to steal a majority of the private keys. Unknown, disparate humans are hard to coerce and multi-layered cryptography is challenging to penetrate once let alone multiple times over.
  2. Usability: In Mean’s SuperSafe, “a set of owners/authorized personnel can configure a set of rules and policies for the SuperSafe, such as expenses, limits, account locking, etc.” similar to a traditional business bank account. This mitigates the risk that any one individual with too much influence could be compromised.
  3. Privacy: Privacy is the backbone of Mean’s SuperSafe. The technology limits centralization at all points while championing privacy and decentralization. It utilizes multifactor authentication methods such as biometrics (fingerprint, face ID, etc.) or third-party authorization applications. With no KYC / KYB required, the individual key holder’s anonymity is always protected which is essential in deterring bad actors.

--

--

People and businesses from around the world can create and manage international accounts with thousands of assets like stables coins and tokens, as well as access to several capital products like deep liquidity markets, a decentralized exchange, and access to several investments.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Mean DAO

Mean DAO is the org behind the Mean Protocol and MeanFi, a self-custody, permissionless and trustless bank bringing Crypto and DeFi to everyday banking