The Evolution of Mean: More Than Just a Name Change

Balmy
4 min readApr 30, 2024

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Mean Finance has always been synonymous with decentralized dollar cost averaging (DCA) and creating novel user experiences through our meta-aggregator. However, we’re now taking a transformative leap forward that will allow us to reach a much broader audience, helping us enable what we truly believe in: an accessible, easy-to-understand, and sustainable decentralized finance.

Mean’s Genesis

Before we go over our future, let’s take a moment to reflect on our past. Mean Finance began as a casual summer project between Nicolás Chamo and Ged, with Fiboape joining shortly after. Our ambition was simple yet profound: to create a new financial primitive that would allow everyone to passively invest in their preferred assets. This vision was initially inspired by Ged’s early days as a Bitcoin maxi and the realization that most people find it challenging to navigate the ups and downs of the crypto market and consistently come out ahead.

In 2021, the concept of a decentralized, scalable, and cost-efficient DCA platform was unheard of. Faced with this gap, we were driven not just to fill it but to redefine it. Thus, from the ❤️ of South America (🇦🇷), Mean Finance was born — fueled by necessity, vision, and an unwavering commitment to innovation.

Our Evolution: Beyond DCA

As the DeFi landscape flourished, the proliferation of decentralized exchange aggregators turned the simple act of finding the best trade quotes into a daunting task. Determined to simplify and improve the user experience, we introduced the first-ever (or close second? 🦙) meta-aggregator. This groundbreaking tool not only finds the best quote among top-tier aggregators but also enables swapping with a single approval and simulates trades across any EVM chain — all thanks to leveraging Uniswap’s Universal Approval (Permit2) smart contracts (if you are interested in learning more, check out our article about it).

This innovation marked a significant turning point for Mean Finance. We left behind our initial focus on DCA to become a comprehensive platform for decentralized investment tools. However, as our ambitions expanded, our existing brand and UI/UX began to feel restrictive, no longer reflecting the broad scope of services and solutions we envisioned providing.

And so, the seeds for a new beginning were sown… Enter Balmy.

Introducing Balmy

As we pivot from our original mission at Mean Finance, where we established ourselves as a hub for decentralized investment tools, Balmy emerges as the natural evolution of our journey. Our new direction shifts towards creating a new type of application: a decentralized home banking solution that reimagines the way users interact with their assets in the DeFi ecosystem. With Balmy, you’ll be able to swap your assets at the best prices, make recurring investments into your favorite tokens, track your investments and transfers, and send money with ease across multiple EVM-compatible networks. We’re not just building another DeFi tool; we’re creating an all-inclusive, intuitive platform that sets a new standard for accessibility and ease of use in our ecosystem.

Our new name, Balmy captures the essence of what this new platform represents: warmth, comfort, and ease. These qualities are the foundational pillars of Balmy, echoing our commitment to building a financial platform that not only meets your needs but also provides an amazing experience.

Decentralized Home Banking: A New Frontier

Imagine being able to purchase stocks and bonds, set up recurring investments, transfer funds internationally, and manage contacts, all without the constraints of traditional financial infrastructure. By harnessing the power of blockchain and battle-tested decentralized protocols, we’re making this vision a reality.

To build this groundbreaking ecosystem, we are committed to integrating cutting-edge dApps that have unlocked new financial primitives. By incorporating protocols like SynthetixV3, which will enable trading synthetic assets akin to stocks, Mountain Protocol for facilitating bond-like investments, and our own proven solutions for recurring investments, we aim to provide a comprehensive suite of financial services. Furthermore, we will explore integrations with platforms that offer seamless fiat transactions, such as Monerium, to bridge the gap between traditional and decentralized finance.

Together Into the Future

As we transition from Mean Finance to Balmy, we’re excited to share a significant milestone that marks the beginning of this new chapter. We’ve successfully closed a funding round led by F.actor. Their belief in our vision and dedication to our mission is not only inspiring but also invaluable as we navigate this new path.

We’re also incredibly grateful for the support of our other esteemed investors, including Bodhi Ventures, LD Capital, and angel investors Pepo, Matias Nisenson, 0xToucan, Poolpi, Facu Ameal, and Ari Barmat. By bringing together their diverse backgrounds and deep understanding of our industry, these investors will play a crucial role in shaping Balmy’s future and driving our success.

Balmy is more than just another DeFi solution; it’s a catalyst for change, transforming the way people think about and interact with their finances in the decentralized era. We are driven by the belief that DeFi should be accessible, user-friendly, and empowering for people across the globe, regardless of their background or financial status.

We invite you to be a part of this transformative journey. Join our community, spread the word about Balmy, and provide us with your valuable feedback as we continue to improve and grow. Together, we’ll break down barriers, challenge web3’s status quo, and create a more inclusive and opportunity-rich financial future. With Balmy, we’re not just changing the game — we’re redefining it entirely. Get ready to experience DeFi like never before.

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Balmy

Balmy is your home for accessing the world of decentralized finance as it was meant to be: safe, open, and intuitive.