What is Cream Finance (CREAM)?
Cream finance is a decentralized lending platform that enables individuals, institutions, and protocols to access financial services. C.R.E.A.M stands for Crypto Rules Everything Around Me. The native token of the platform is CREAM. It supports the network's operations and offers users various earning opportunities. You can check the CREAM price on the live Cream Finance price chart above.
Crime Finance is blockchain agnostic, meaning it allows building or running operations from different underlying blockchain technologies. As the platform is a multi-chain and open-source, it serves users on Ethereum, Binance Smart Chain (BSC), Fantom, and Polygon.
Moreover, Cream Finance provides liquidity to DeFi assets through Automated Market Maker (AMM). It enables users to borrow digital assets or lend their supported tokens to earn mining rewards. In turn, the network collects fees for swaping, lending, and borrowing services from the users.
The platform aims to list digital tokens that are highly significant to the DeFi sector. Some of the targeted assets include the leading stablecoins such as USDT, BUSD, and USDC, or governance tokens such as COMP, YFI, BAL, CREAM, LEND, and CRV. Besides, the platform also supports leading cryptocurrencies such as ETH, LINK, and renBTC.
Besides, Cream’s smart contracts are compatible with the Ethereum Virtual Machine (EVM), which enables users to create DAOs for its community. Through this feature, the network ensures better composability, meaning developers can plug various financial services into one another.
Lastly, it's important to note Cream Finance is a part of the yearn.finance (YFI) ecosystem.
Use Cases of Cream Finance token (CREAM)
The CREAM token follows the ERC-20 token standard and runs on the Ethereum network. It powers the entire Cream Finance ecosystem.
CREAM token holders can stake their tokens to receive rewards. Also, users can utilize platform features such as Cream Finance Swap to invest their CREAM tokens and earn. Cream Finance Swap rates are determined by the current/ongoing size of the pools, instead of the centralized rate cards.
Additionally, the CREAM coin is also a governance token, which enables holders to vote on various decisions like what assets should be listed or removed from the platform.
If you plan to invest in Cream Finance coins, make sure to thoroughly analyze the Cream Finance price chart above. Knowing the current and the previous CREAM price will help you to make more informed purchasing decisions.
Who Founded CREAM Finance?
Jeffery Huang and Jeremy Yang are the co-founders of Cream Finance. Jeffery Huang has extensive experience in crypto projects, having pioneered crypto-based products and services. For example, he created the Ethereum-based social media platform Mithril (MITH). He also led the creation of another social media platform in Taiwan, which saw 42 million users on board. The entire team led by Huang is highly active, working together to ensure they meet the project’s goals.
Tokenomics of CREAM
CREAM has a maximum supply of 2,924,547 tokens. This fixed supply will ensure the scarcity of the token as more people adopt it. This is designed to drive Cream Finance price up, following the common demand and supply principle. The token was allocated as follows:
- Team and advisors – 10%
- Seed funding – 10%
- Incentives for Liquidity providers – 20%
- Network Governance – 60%
