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Cream Finance priceCREAM
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About Cream Finance (CREAM)
What is Cream Finance (CREAM)?
C.R.E.A.M Finance is a lending protocol for individuals, institutions, and protocols that allows access to financial services. It is part of the yearn.finance ecosystem and operates as a permissionless, open source, and blockchain agnostic protocol. C.R.E.A.M. allows users on Ethereum, Binance Smart Chain, Polygon, and Fantom to earn yield by depositing their assets. This makes it similar to a traditional savings account.
Who are the Founders of C.R.E.A.M. Finance?
The individual responsible for C.R.E.A.M. Finance is Jeffrey Huang, a Taiwanese entrepreneur who referred to himself as the "semi-benevolent dictator of CREAM" upon its launch. Huang is also the creator of Mithril (MITH), an Ethereum-based social media platform.
How does Cream Finance (CREAM) Work?
The C.R.E.A.M. Finance protocol was originally derived from Compound Finance. It is a blockchain-agnostic protocol that is open-source and permissionless, and it rewards users with yield farming opportunities to enhance its network inclusively.
The project, which is short for Crypto Runs Everything Around Me, was launched unexpectedly on the Ethereum network on August 3, 2020, through the YOLO liquidity pool. Later in September 2020, it was introduced on the Binance Smart Chain (BSC).
By utilizing the CREAM token, users can lend, borrow, stake assets and help govern the network. They are granted the power to vote on whether to support or delist particular assets.
What makes Cream Finance (CREAM) Unique?
C.R.E.A.M. Finance is a platform that enables users to borrow and lend supported assets while earning liquidity mining rewards in the form of its CREAM token by supplying any supported asset as collateral. The platform supports important DeFi assets such as stablecoins (USDT, USDC, BUSD, yCRV, etc.), governance tokens (COMP, BAL, YFI, LEND, CRV, CREAM etc.), and leading cryptocurrencies such as ETH, renBTC and LINK. CREAM is an ERC20 token on the Ethereum network that can run Ethereum Virtual Machines through smart contracts, allowing users to create DAOs for its community. CREAM tokens can be staked for up to four years to accrue rewards, but it's important to note that there is no admin unlock available, meaning rewards are only received at the end of the staking period.
How is the C.R.E.A.M. Network Secured?
CREAM has made a deliberate decision not to have official audits on their smart contracts. However, they have enlisted the help of expert advisers, including Robert Leshner, the founder of Compound, to enhance security, scrutinize the code, and manage a multisig wallet to ensure the safety of users' funds.
CREAM to local currency
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Cream Finance Social Data
In the last 24 hours, the social media sentiment score for Cream Finance was 2, and the social media sentiment towards Cream Finance price trend was Bearish. The overall Cream Finance social media score was 4, which ranks 1088 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Cream Finance being mentioned with a frequency ratio of 0%, ranking 582 among all cryptocurrencies.
In the last 24 hours, there were a total of 283 unique users discussing Cream Finance, with a total of Cream Finance mentions of 26. However, compared to the previous 24-hour period, the number of unique users increase by 7%, and the total number of mentions has decrease by 61%.
On Twitter, there were a total of 1 tweets mentioning Cream Finance in the last 24 hours. Among them, 0% are bullish on Cream Finance, 100% are bearish on Cream Finance, and 0% are neutral on Cream Finance.
On Reddit, there were 0 posts mentioning Cream Finance in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% .
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