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About C.R.E.A.M. Finance
Key Points
- C.R.E.A.M. Finance is a decentralized DeFi lending protocol.
- Part of the yearn.finance ecosystem.
- Permissionless, open-source, and blockchain-agnostic.
- Supports Ethereum, Binance Smart Chain, Polygon, and Fantom.
Token Information
- Total supply: 9 million CREAM tokens.
- Circulating supply: around 150,000 CREAM tokens.
-
Token allocation:
- 10% to team and advisors.
- 10% for seed with four
About Cream Finance: Empowering DeFi Lending and Borrowing
Introducing C.R.E.A.M. Finance (CREAM): A Comprehensive Overview
C.R.E.A.M Finance is a decentralized, permissionless, and open-source DeFi lending protocol, catering to individuals, institutions, and protocols seeking access to a comprehensive range of financial services. As an integral component of the yearn.finance ecosystem, C.R.E.A.M. Finance operates as a blockchain-agnostic protocol, seamlessly serving users across Ethereum, Binance Smart Chain, Polygon, and Fantom.
Individuals holding Ether or wBTC can leverage C.R.E.A.M. to generate passive income, akin to a conventional savings account, by depositing their assets. For further details, please visit
https://app.cream.finance/
.
Inspired by the Compound Finance model, the C.R.E.A.M. Finance protocol was born, leveraging the strengths of its predecessor to forge a unique identity in the decentralized finance landscape.
C.R.E.A.M Finance is an open-source, permissionless, and blockchain-agnostic platform that incentivizes its users through yield farming rewards, fostering an inclusive network development.
The Crypto Runs Everything Around Me (CREAM) project made its unexpected debut on the Ethereum network on August 3, 2020, via the YOLO liquidity pool. By September 2020, it had successfully migrated to the Binance Smart Chain (BSC).
The CREAM token empowers users to engage in a multifaceted experience, encompassing lending, borrowing, and staking assets, while also granting them a voice in the network’s governance, enabling them to cast votes on which assets to support or delist.
The Visionaries Behind C.R.E.A.M. Finance: Meet the Founders
At the helm of C.R.E.A.M. Finance stands Taiwanese entrepreneur Jeffrey Huang, who, upon launch, humorously dubbed himself the “semi-benevolent dictator of CREAM”. Notably, Huang is also the founder of Mithril (MITH), an innovative Ethereum-based social media platform.
The token allocation is as follows:
- A total of 10% (900,000) of the tokens will be allocated to the team and advisors, with 75% of this amount subject to a four-year vesting period, featuring a six-month cliff;
- A further 10% will be utilized as seed funding, with a four-year vesting period and a one-year cliff;
- A significant allocation of 20% (1.8 million) CREAM will be dedicated to incentivizing liquidity providers;
- The largest allocation of 60% (5.4 million) is reserved for governance purposes.
Unveiling the Distinctive Edge of C.R.E.A.M. Finance
C.R.E.A.M. Finance facilitates liquidity provision to pivotal DeFi assets via automated market making (AMM), thereby enabling users to borrow and lend supported assets while earning liquidity mining rewards in the form of its native CREAM token by pledging any supported asset as collateral. In return, it accrues swap, lending, and borrowing fees from users.
The platform is dedicated to listing and supporting a curated selection of tokens that are pivotal to the DeFi ecosystem, including prominent stablecoins (USDT, USDC, BUSD, yCRV, and others), governance tokens (COMP, BAL, YFI, LEND, CRV, CREAM, and more), as well as other leading cryptocurrencies, such as ETH, renBTC, and LINK.
As an ERC20 token operating on the Ethereum network, CREAM leverages the Ethereum Virtual Machine via smart contracts, enabling users to establish decentralized autonomous organizations (DAOs) for its community, thereby fostering enhanced composability – seamlessly integrating diverse financial services.
CREAM tokens can be staked for a maximum tenure of four years, during which rewards will accrue. Notably, there is no administrative unlock feature available, which means that rewards will only be disbursed at the conclusion of the staking period.
What Is the Circulating Supply of C.R.E.A.M. Finance (CREAM) Coins?
CREAM boasts a total supply of 9 million coins, with approximately 150,000 currently in circulation. As vested tokens are incrementally released to stakeholders and liquidity miners on a monthly basis, this figure is poised to rise.
The C.R.E.A.M. Network’s Robust Security Framework
Notably, CREAM’s smart contracts have deliberately opted out of official auditing for the time being. Instead, Huang has assembled a team of expert advisers, including Compound founder Robert Leshner, to meticulously review code, enhance security, and manage a multisig wallet, thereby ensuring the safeguarding of users’ funds.
We are pleased to provide an update on our audit report, courtesy of Trail of Bits, dated January 28, 2021. For a comprehensive review, please refer to:
https://docs.cream.finance/audit-report
In Which Exchanges Can You Acquire C.R.E.A.M. Finance (CREAM)?
Currently, the premier exchanges for trading Cream Finance are Binance, Binance.KR, Hoo, and Uniswap (V2), with a comprehensive list of alternatives available on our dedicated crypto exchanges page.
With unparalleled convenience, you can now seamlessly purchase prominent cryptocurrencies such as Bitcoin and Ethereum directly using your credit card, with the flexibility to choose your preferred fiat currency.
Associated Resources:
Delve into the world of Compound Finance (COMP) and discover its intricacies.
Delve into the world of Curve DAO (CRV), a pioneering decentralized autonomous organization that’s revolutionizing the DeFi landscape.
Delve into the world of yearn.finance (YFI) and uncover its intricacies.
Stay ahead of the curve with the latest blockchain news, trends, and expert insights on the CoinMarketCap blog.