Summary
As a TLDR for those who don’t know us: Mean Finance aims to become the go-to hub for accessing decentralized finance by abstracting the inherited complexity of decentralized tools of investment. Our first product enables users to dollar cost average from any ERC20 into any ERC20 with their preferred period frequency without the user having to pay gas costs for each trade, while still being decentralized, open and traceable.
Mean Finance proposal to get a total of 300,000.00 OP tokens for incentivizing subsidies, builders, growth and early adopters was passed at July 6th, 2022 through this snapshot vote. Funds were sent on October 19th, 2022. which can be seen in this transaction.
This post aims to updates Optimism governance on how those tokens have been used and the results seen so far.
Usage of $OP & Results:
- Builders: We’ve paid out a grant of 2,136.75 OP tokens for Murathan, a member of our community that built a dune dashboard where you can look up the amount of depositors, positions created, total volume transacted, which pairs are the most used, etc. You can view the payment transaction here and access the dashboard here.
- Growth strategies and community engagement: A campaign was created through Layer3 that allowed users to earn 1 OP token when finishing up their quests. Quests consisted in creating a DCA position to buy daily ETH while earning yield on AaveV3, and withdrawing swapped funds some days later. If you want to check the impact that this quest had on Mean Finance, you can check Layer3’s report, here.
Looking Forward:
The community has expressed interest in Subsidies and Early Adopters airdrop through our discord server (so we know everyone is waiting for it) and we are excited to deliver on these requests. Necessary user interfaces have been designed and implemented, and we are in the process of completing the coding of a smart contract that will enable us to perform the retroactive airdrop of Optimism tokens, as well as start offering subsidies and other exciting features.
Finishing thoughts:
Although this update may be brief, we believe it is important for all projects to be accountable to the community. We would like to extend a special thanks to @Leighton, who recently posted a Pool Together grant update, and to @netrim and @lavande for requesting an update from us.