Cream Finance (CREAM) price, marketcap, chart, and fundamentals info
Cream Finance, short for Crypto Rules Everything Around Me is an ecosystem DeFi Focus on providing services for lending, exchange, payment and asset tokenization.
It also claims to operate an open source and permissionless protocol so that any other participant can be part of the development of the network, rather than just using it or locking money in smart contracts to staking rewards.
Cream Finance's goal is to push the boundaries of DeFi by creating and integrating better protocols based on existing ones. The borrow protocol uses source code from an organization such as Compound Finance, Balancer, Curves Finance, Uniswap , and Blackholeswap.
How does Cream Finance work?
The services provided and their features are as follows:
Most Cream services are identical copies of other original protocols in the DeFi ecosystem. The only difference is that Cream Finance supports more assets for both lending and borrowing.
Like borrowing on a compound, you need to deposit crypto in USD on Cream Finance as collateral to borrow a smaller amount of cryptocurrency.
You are allowed to borrow up to 60% of the USD value of the cryptocurrency you have deposited. The main benefit of borrowing on Cream is that there is no time limit to repay the loan.
Cream Liquidity mining
Cream Finance copies the liquidity pools that Curve Finance provides on its protocol. You can stake cryptocurrencies to earn a return of nearly 200% that you can withdraw at any time.
The Cream Finance pool rewards investors by cutting transaction fees of Cream Finance Swap, a DEX exchange.
Cream Finance Swap
Team dev defined CREAM Finance Swap as "a branch of Balancer with an interface like Uniswap." The service mimics both protocols by using the ratio of the two assets in the pool to determine the price instead of an order book like a CEX exchange.
Team dev has announced that Cream Finance will transition to a decentralized autonomous organization (DAO). Give full control to token holders in the community.
CreamY Automated Market Maker
After the success of Curve Finance, the developer team of Cream Finance released their AMM version, called CreamY. Offers highly liquid swaps between crypto assets of the same value.
Also cut transaction fees on the platform when becoming a Liquidity Provider.
What is CREAM Token?
CREAM is the native token of the ecosystem built on the Ethereum blockchain. It is awarded to those who interact with Cream Finance by lending, borrowing, or providing liquidity in its various protocols.
Basic information of Copper CREAM
|Circulation supply||498,167 CREAM|
After the burn, the total available supply dropped from 9.000.000 to 2.925.000 tokens, with the current circulating supply mentioned. The schedule for issuing and distributing CREAM tokens is as follows:
CREAM Token Sale
There is no ICO for the CREAM token, not much information for the seed round. Current amount of tokens are issued thanks to liquidity mining. The distribution schedule of CREAM token for LP is detailed below.
What is CREAM copper used for?
Cream Finance's native token is CREAM and it plays a part in governance token. Additionally, CREAM is used as a reward to encourage users to interact with Cream Finance by clending, borrowing, or providing liquidity within its various protocols.
- Governance: The CREAM holder will have management control over Cream Finance. CREAM holders will be able to vote on adding and removing liquidity pools, supported assets, changing platform parameters, etc.
- Reward: Cream Finance ecosystem participants can earn CREAM by providing liquidity in supported pools.
What exchange is CREAM traded?
If you want to buy CREAM cryptocurrency, your best option is Binance and Uniswap.
Note, Uniswap is DEX and will require a Web 3.0 wallet to interact. You will also have to pay the expensive Ethereum (gas) network fees lately. As such, a good choice would be the Binance exchange.
Token storage wallet CREAM
If you intend to participate in the management of Cream Finance, Web 3.0 wallet such as Metamask is the best choice for you,….
The Future of Cream Finance (CREAM)
Cream Finance, they are continuously building and listing more content on their platform. Recently, they updated the rewards available on their liquidity pool and were transparent about their liquidity mining distribution. Even though they are a fairly new factor
Lending and borrowing services are still very hot, CREAM Finance's TVL in the lending segment at the time of writing is US $ 316.4 million, ranked 5th.
Recognizing CREAM's interconnection with the largest exchanges and protocols in the space, CREAM's future looks promising. Looking at the service they are offering, it is in line with what many crypto users need.
Cream Finance doesn't have a clear roadmap. They are working on cloning some of the best DeFi protocols popular in the crypto space.
Once the DAO is complete and appears to be complete before other changes, the future of the project will be in the hands of the community.
Evaluate the potential of CREAM
Jeffrey Huang, Founder of CREAM Finance, believes in cryptocurrency's ability to create an open and inclusive financial system.
Through the help of smart contracts, Huang's team has continued to create a DeFi ecosystem that can link the many products and services together that many users need today.
CREAM token price
CREAM has an impressive price history. Prices were at just as low as almost $ 10 shortly after their release on August 07. A month later it was trading at $ 08 ATH that's over 289X. Currently trading at $ 20 at the time of writing.
The Defi projects have exploded in recent times. There are several DeFI protocols, which spawned countless forks with different modified parameters. Some projects that are forked regularly are Compound, Balancer, and Uniswap Yearn.Finance.
Hard forks are encouraged by the community as it increases user choice and improves creativity. The core of CREAM Finance has been carried over from Balancer and Compound protocol. Inspiration from many features came from YFI and Uniswap.
Diversified products, focusing on the hottest services lending / borrowing, exchange, ... brought in a pretty large amount of money for the fund.
Should you invest in CREAM coin?
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