Cream update: CREAM Live price, price chart, news and markets

Cream Finance is a lending platform built on Ethereum that enables users to lend or borrow from a pool of assets in a decentralized manner. Instead of individuals setting interest rates, the rates are determined algorithmically based on the proportion of assets lent out. Cream Finance is a fork of Compound.

What is Cream Finance trying to achieve?

Users on the platform can lend supported assets and use them as collateral to borrow other assets. Cream Finance is currently available on Ethereum, Binance Smart Chain, Fantom, Polygon, and Arbitrum.

What makes Cream Finance unique?

Cream Finance aids in providing liquidity to important DeFi assets through automated market making (AMM). Users can 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, Cream Finance collects fees from users for swaps, lending, and borrowing.

The platform aims to list and support tokens that are significant to the DeFi sector, including major stablecoins (such as USDT, USDC, BUSD, and yCRV), governance tokens (such as COMP, BAL, YFI, LEND, CRV, and CREAM), and other leading cryptocurrencies like ETH, renBTC, and LINK.

As an ERC20 token on the Ethereum network, CREAM can execute Ethereum Virtual Machines through smart contracts, while users can create DAOs for its community, resulting in enhanced composability, i.e., integrating different financial services together.

CREAM tokens can be staked for a period of up to four years to earn 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.