C.R.E.A.M. Communications #5
C.R.E.A.M. Strengthens Security, Alpha Homora V2 Relaunch, C.R.E.A.M. Platform Growth, PancakeSwap-LP Migration
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Weekly Recap
C.R.E.A.M. Finance Strengthens Security
In collaboration with Immunefi, Armor.fi, and DeFiSafety, C.R.E.A.M. Finance is launching a $1.5 million bug bounty program focused around smart contracts and web / app assets security.
Beyond the bug bounty, C.R.E.A.M. Finance has also started working with Armor.fi — to provide users the ability to insure funds against exploits.
Lastly, C.R.E.A.M. recently received a score of 83% in a safety review conducted by DeFiSafety.
Alpha Homora V2 Relaunching With Iron Bank Support
Alpha Finance released details on the relaunch of Alpha Homora V2, which includes many innovative features for lenders and yield farmers, including: more ibTokensV2 tokens with high yield, LP-tokens as collateral, and more!
For C.R.E.A.M., this means more supply and demand for the Iron Bank. Also, this means deeper collaboration between two of strongest teams in DeFi — C.R.E.A.M. Finance and Alpha Finance.
Leo Cheng — C.R.E.A.M. project lead — shared his thoughts below:
The return of Alpha Homora V2 as both supplier and borrower will significantly increase liquidity and utilization of the Iron Bank, while further delighting DeFi users across the board with increased yield. As a yield farmer, I look forward to borrowing and shorting stablecoins instead of ETH and BTC. I can't wait to use the much-improved Alpha Homora V2.
C.R.E.A.M. Finance Money Markets Show Strong Growth
C.R.E.A.M Finance’s money markets are growing quickly!
Below we highlight some of our favorite C.R.E.A.M. statistics:
The Iron Bank is now the most efficient money market in the space. Current utilization rate is 51% (vs. 42% on April 1st).
Total dollars borrowed, on the Iron Bank, is now over $312M — 3.6x growth since the beginning of the month.
As a result, the Iron Bank total reserves are growing exponentially: +129% since April 1st.
C.R.E.A.M. BSC is also growing at rapid clip — with the rest of the Binance Smart Chain ecosystem. The current C.R.E.A.M. BSC market size is $174M, a 117% month-over-month increase.
C.R.E.A.M. BSC has seen strong usage with native BSC assets like BNB, BUSD, and CAKE.
Charts and data can be found here.
PancakeSwap LP Migration
In response to the PancakeSwap LP migration, C.R.E.A.M. Finance is making updates to our cake-LP pools:
Pause Supply & Borrow for all Pancake LP Tokens — this prevents any further lending events on: CAKE-BNB, BNB-BUSD, BTCB-BNB, ETH-BNB, and USDT-BUSD
Increase reserve factor to 100%. This will lead to suppliers getting no more yield and borrower will be forced to repay their debt.
List new Cake LPs on C.R.E.A.M. Finance with the original borrow/lend configurations
Once Pancake announces the redeployment of the new Router and LP implementation, we will begin the migration progress above.
🍦 🤝🏼 🥞
New C.R.E.A.M. Supported Assets
List as Collateral Asset: $SPC (v2), $MET, $VSP, $ALCX, $RARI
C.R.E.A.M. Improvement Proposals
Proposal to add assets: $BLZ, mAssets (mTSLA, mTWTR, mVIXY, mIAU, mMSFT), $SWAP, $MET, $INDEX, $VSP & $VVSP, $NERVE
C.R.E.A.M. In The Media
What’s Ahead For C.R.E.A.M. Finance
UI / UX revamp
Updated Tokenomics
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-C.R.E.A.M. Finance