About Cream Finance Coin
Cream Finance Coin Finance is a decentralized lending protocol for individuals and protocols to access financial services. The protocol is permissionless, transparent, and non-custodial.
Currently, C.R.E.A.M. is live on Ethereum, Binance Smart Chain, and Fantom.
C.R.E.A.M. Finance’s smart contract money markets are focused on longtail assets — with the goal of increasing capital efficiency for all assets in crypto markets.
Users are able to lend any supported assets on markets, and use the provided capital as collateral to borrow another supported asset.
C.R.E.A.M. offers a wide range of tokens on money markets, including: stablecoins (USDT, USDC, BUSD); interest-bearing stablecoins (yCRV, yyCRV); defi tokens (YFI, SUSHI, CREAM, CREAM); LP-tokens (USDC-ETH SLP, WBTC-ETH SLP); and other cryptocurrencies (ETH, LINK). This list is not exhaustive.
Cryptofi Coin Point Table
|Coin Name||Cream Finance Coin|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
- Lock CREAM between 1 week to 4 years to receive iceCREAM.
- iceCREAM is non-transferable and non-tradeable.
- 50%+ of Protocol Reserves going forward will be distributed as ycrvIB tokens to iceCREAM stakers.
- 1 iceCREAM = 1 vote in the future of C.R.E.A.M. Finance governance.
- [phase 2] iceCREAM staked translates to voting power which can be used to determine allocation of CREAM token liquidity mining by chain and market (e.g.- Ethereum, ETH).
If liquidity mining is enabled on borrow markets (more on this as part of phase 2)
- Once you vote, your vote will remain directed at pools unless modified.
- Users will have the ability to change their votes every week and will be able to allocate their iceCREAM to different pools.
- iceCREAM allows the user to control CREAM emissions across all C.R.E.A.M. markets in the future.
- iceCREAM increases emission from a base factor of 0.4 to a max of 2.5x, the more iceCREAM you stake, the more CREAM you earn.
Each asset supported by the C.R.E.A.M. Protocol is integrated through a crToken contract, which is an EIP-20 compliant representation of balances supplied to the protocol. By minting crTokens, users (1) earn interest through the crToken’s exchange rate, which increases in value relative to the underlying asset, and (2) gain the ability to use crTokens as collateral.
crTokens are the primary means of interacting with the C.R.E.A.M. Protocol; when a user mints, redeems, borrows, repays a borrow, liquidates a borrow, or transfers crTokens, she will do so using the crToken contract.
There are currently two types of crTokens: CErc20 and CEther. Though both types expose the EIP-20 interface, CErc20 wraps an underlying ERC-20 asset, while CEther simply wraps Ether itself. As such, the core functions which involve transferring an asset into the protocol have slightly different interfaces depending on the type, each of which is shown below.
Why Stake for CRETH2
Eventually, people will migrate from ETH to ETH2, but here we offer more benefits for staking ETH in C.R.E.A.M. Finance during the migration process.
Users on C.R.E.A.M. will be able to stake ETH and also use this staked position (CRETH2, the proof token) as collateral on the C.R.E.A.M. lending platform to borrow assets. This means by staking ETH with C.R.E.A.M., users can earn staking rewards, potential supply yield, in addition to having borrowing power on the C.R.E.A.M. lending platform.
Who Are the Founders of C.R.E.A.M. Finance?
The person behind C.R.E.A.M. Finance is Taiwanese entrepreneur Jeffrey Huang, who labeled himself as the “semi-benevolent dictator of CREAM” upon launch. Huang is also the founder of Mithril (MITH), the Ethereum-based social media platform.
The tokens have been allocated as follows:
- 10% (900,000) of tokens will go to the team and advisors, 75% of which will vest over four years and a six month cliff;
- 10% will be used as seed with four years vesting (one year cliff);
- 20% (1.8 million) CREAM will be used to incentivize liquidity providers;
- 60 (5.4 million) is allocated for governance.
What Makes C.R.E.A.M. Finance Unique?
C.R.E.A.M. Finance helps provide liquidity to important DeFi assets through automated market making (AMM), allowing users to borrow and lend supported assets and earn liquidity mining rewards in the form of its CREAM token by supplying any supported asset as collateral. In return, it collects swap, lending and borrowing fees from users.
The platform aims to list and support tokens important to the DeFi sector, for example the biggest stablecoins (USDT, USDC, BUSD, yCRV, etc), governance tokens (COMP, BAL, YFI, LEND, CRV, CREAM etc.), and other leading cryptocurrencies such as ETH, renBTC and LINK.
As an ERC20 token on the Ethereum network, CREAM can run Ethereum Virtual Machines through smart contracts, while users can create DAoos for its community, thus resulting in better composability, i.e. plugging different financial services into each other.
CREAM tokens can be staked for a period of up to four years in order to accrue rewards; however, it is important to note that there is no admin unlock available.Therefore, you will only receive your rewards at the end of your staking period.
How Many C.R.E.A.M. Finance (CREAM) Coins Are There in Circulation?
CREAM has a total supply of 9 million coins, of which around around 150,000 are currently in circulation. This will increase as more vested tokens are released monthly to stakeholders and liquidity miners.
How Is the C.R.E.A.M. Network Secured?
CREAM’s smart contracts are not officially audited at present by choice. Instead, Huang uses expert advisers (which includes Compound founder Robert Leshner) to improve security, inspect code and manage a multisig wallet to keep users funds safe.
Where Can You Buy C.R.E.A.M. Finance (CREAM)?
The top exchanges for trading in Cream Finance are currently Binance, Binance.KR, FTX, Hoo and Uniswap (V2). You can find others listed on crypto exchanges page.
You can now also buy cryptocurrencies like Bitcoin and Ethereum directly by credit card in your fiat currency of choice.