Cream

What is C.R.E.A.M. Finance?

C.R.E.A.M. Finance is a decentralized lending protocol designed to provide individuals, institutions, and protocols with access to financial services in the decentralized finance (DeFi) space. It operates as a permissionless, transparent, and non-custodial platform, offering users the ability to lend, borrow, stake assets, and participate in governance.

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Recent Video Interview

Main points of the interview:

• Cream Finance's origin and focus as a peer-to-peer lending protocol.
• Initially started by forking Compound, C.R.E.A.M. aimed to include a broader range of assets for DeFi users.
• They aggressively listed tokens, including those with less on-chain liquidity, leading to systemic risks.
• Collaboration with Compound contrasts the competitive dynamic seen in other DeFi projects.

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Overview

• Decentralized Lending Protocol: C.R.E.A.M. Finance facilitates lending and borrowing activities in the DeFi sector, allowing users to interact with various supported assets.
• Multi-Chain Integration: The protocol is live on Ethereum, Binance Smart Chain, and Fantom, providing users with flexibility and accessibility across different blockchain networks.
• Capital Efficiency: C.R.E.A.M. focuses on longtail assets, aiming to increase capital efficiency for all assets in crypto markets.
• Wide Range of Supported Tokens: Users can lend and borrow a diverse range of tokens including stablecoins, interest-bearing stablecoins, DeFi tokens, LP-tokens, and other cryptocurrencies.

iceCREAM Tokenomics (Phase 1)

• Productive Asset: iceCREAM turns CREAM into a productive asset with voting, staking, and boosting capabilities.
• Staking Mechanism: Users lock CREAM for a period of one week to four years to receive iceCREAM tokens, which are non-transferable and non-tradeable.
• Distribution of Protocol Reserves: Over 50% of Protocol Reserves will be distributed as ycrvIB tokens to iceCREAM stakers.
• Governance Power: Each iceCREAM token represents one vote in C.R.E.A.M. Finance governance, with future plans to translate staked iceCREAM into voting power for determining allocation of CREAM token liquidity mining.
• Emission Boosts: Staking iceCREAM increases CREAM emissions, with a scaling factor based on the amount of iceCREAM staked. crTokens
• Integration Protocol: Each supported asset in C.R.E.A.M. is integrated through a crToken contract, an EIP-20 compliant representation of balances supplied to the protocol.
• Functionality: crTokens enable users to earn interest through exchange rate appreciation relative to the underlying asset and utilize crTokens as collateral.
• Types of crTokens: There are two types of crTokens: CErc20 for ERC-20 assets and CEther for Ether, each with slightly different interfaces for core functions.

Borrowing & Lending

In the borrowing and lending ecosystem of C.R.E.A.M. Finance, users engage in two primary activities: earning interest and taking loans. By supplying assets to the platform, users can earn interest on their holdings while also utilizing those assets as collateral to borrow other assets. This dual functionality enables users to implement long or short strategies based on their market outlook. However, borrowing limits are contingent upon collateral factors, necessitating careful management to mitigate liquidation risks. This dynamic interplay between lending, borrowing, and collateral factors empowers users to optimize their financial strategies within the decentralized finance landscape.

Governance and Tokenomics

$CREAM Token: The C.R.E.A.M. DAO is powered by the $CREAM token, which grants holders governance rights and rewards. Fair Launch Yield Farming: $CREAM tokens were distributed through fair launch yield farming to users of the platform. Community Governance: Token holders can vote on asset listings, collateral factors, and rewards through off-chain governance mechanisms using Snapshot.

Similar Assets

Some similar assets to CREAM are Sushi, Aave, Compound, Curve DAO, Uniswap, 0x Protocol, Alpaca Finance, Balancer...

Project Development

C.R.E.A.M. Finance and Fold Finance have joined forces to develop MEV Protocol, a groundbreaking liquid staking protocol aimed at maximizing value for the Ethereum community while bolstering network decentralization. This collaboration marks a significant milestone, introducing the first-ever ETH staking service by C.R.E.A.M. Finance and leveraging Fold Finance's expertise in Ethereum infrastructure. MEV Protocol not only enhances network security but also fosters diversity among validators and Liquid Staking Tokens (LST), thereby promoting decentralization. Moreover, it introduces a novel MEV Auction system, departing from the traditional one slot, one winner model, to accommodate multiple winners per slot. This innovation, pioneered by the Flashbots MEV Boost system, represents a major advancement in optimizing value extraction from Ethereum transactions.