C.R.E.A.M. Communications #6
New yVault Collateral Factor Proposal, mStable mUSD to The Iron Bank Proposal, Binance Smart Chain AMA
Hi, C.R.E.A.M. Community.
Project lead, Leo Cheng, was featured on an episode of Coindesk.TV.
On the episode, Leo discussed C.R.E.A.M. Finance’s ongoing bounty program and how DeFi protocols can improve security.
Weekly Recap
Proposal: Raise Collateral Factor Of New yVault Tokens To 75%, submitted by dudesahn
Proposal: Deposit Idle mUSD In The mStable Savings Contract To The Iron Bank, submitted by max ~
Proposal: Raise Collateral Factor Of New yVault Tokens To 75%
Community member, dudesahn, submitted a proposal to raise the collateral factor of new yVault tokens (yvCurve-IronBank, yvCurve-sETH, and yvCurve-stETH) to 75%.
As detailed in this proposal, there are plans to add several of Yearn’s v2 yVault tokens to C.R.E.A.M. v1. As the first three of these assets have now gone live for borrowing and lending, the next logical step is to allow users to collateralize their vault tokens and borrow against them. This will bring greater TVL to C.R.E.A.M. and also drive borrowing demand, increasing returns to depositors and to the protocol itself.
Currently, both yUSD and yETH are listed at 75% collateral ratio. This proposal exemplifies the continued close collaboration between C.R.E.A.M. and Yearn.
Please feel free to join the discussion!
Proposal: Deposit Idle mUSD In The mStable Savings Contract (ETH Mainnet) To The Iron Bank
max ~, on behalf of Dove Mountain, proposed to mStable governance to deposit its idle mUSD ($23M) into the Iron Bank.
In an earlier forum post Capital Efficiency in mStable 3 it was discussed – and agreed upon by the community – that there’s an opportunity to make mStable more capital efficient by depositing idle assets.
We would like to build a formal protocol-to-protocol working relationship between C.R.E.A.M. Finance (Iron Bank) and mStable, where the Iron Bank services mStable’s idle assets. Currently, the Iron Bank supports mUSD and has plans to add mBTC shortly.
The $25.3M mUSD and 131 mBTC held by the Saving Contracts should be put to work to enable holders making more money.
With more liquidity flowing to the Iron Bank from mStable, potential earnings would increase, leading to higher revenue for CREAM holders. Also, for mStable this partnership would increase the yield for mUSD holders.
Please feel free to join the discussion!
Binance Smart Chain AMA Recap With Leo Cheng
On April 20th, Leo Cheng, C.R.E.A.M. Finance Project Lead, lead a BSC AMA on Telegram.
Security is the key to maturing the DeFi ecosystem and bringing emerging financial technology to more users across the globe. We are delivering increased project transparency, preventing hacks and providing a clear path for users to buy insurance coverage with multiple partners. We’ve got some exciting news about the improvements that will be released in a few hours. Finally, we’re constantly looking at the latest liquid assets on BSC and adding them to C.R.E.A.M. as users need them. ah and partnerships. lots of partnerships.
New C.R.E.A.M. Supported Assets
Ethereum
C.R.E.A.M. adds market support for $SFI
BSC
C.R.E.A.M. adds market support for 5 new v2 Pancake-LP pairs
Iron Bank
Iron Bank adds market support for $USDP
C.R.E.A.M. Improvement Proposals
C.R.E.A.M. In The Media
What’s Ahead For C.R.E.A.M. Finance
UI / UX revamp
xCREAM
Thanks for reading - Feel free to follow us on Twitter and join our Discord to get in on the conversation.
-C.R.E.A.M. Finance