C.R.E.A.M. Communications #7
Collateral Cap Launch, Protocol-to-Protocol Lending on BSC, Gitcoin Bounty for Open DeFi Hackathon, C.R.E.A.M. Listing Committee Proposal
Hi, C.R.E.A.M. Community.
The total supply of capital on C.R.E.A.M. Finance money markets continues to grow!
As of May 9th, there were $1,327,835,933 supplied on C.R.E.A.M. money markets — an all-time high, and a 52% month-over-month increase.
Checkout more C.R.E.AM. Finance stats here!
Weekly Recap
Introducing a New Security Feature: Collateral Cap
C.R.E.A.M. Finance is introducing a new security feature – Collateral Cap – designed to diversify protocol-wide lending risk away from any one asset. This feature helps stabilize C.R.E.A.M. Finance and remove systemic risk created by single assets.
The Collateral Cap feature specifies a market’s maximum effective collateral, measured in units of the market’s token. If a market’s collateral cap is set to 1M, it means only 1M of the token can be used as collateral.
In other words, Collateral Cap enables ‘borrowing power’ per asset to be measured and limited. The Collateral Cap feature will be applied to reduce risks that long-tailed assets – with less on-chain liquidity – bring to our pooled money market model.
Protocol-to-Protocol Lending on Binance Smart Chain
Remember last week when our Project Lead, Leo Cheng teased protocol-to-protocol lending at the AMA with Binance DEX Telegram?
We are excited to announce that it is officially out! This feature makes it possible for ‘whitelisted’ protocols to access zero-collateral borrowing.
This feature will give partner protocols on BSC access to cheaper liquidity and improve overall capital efficiency. It will also accelerate the consolidation of cross-protocol liquidity and build a stronger more composable DeFi ecosystem on Binance Smart Chain.
At launch, C.R.E.A.M. protocol-to-protocol lending on BSC will support Yearn’s ape.tax, Alpha Homora v2, and C.R.E.A.M. Finance’s BSC validator.
Gitcoin Bounty for the Open DeFi Hackathon
This challenge is open for any team/individual who will integrate B.Protocol on top of C.R.E.A.M. on the Binanace Smart Chain (BSC).
The ideal bounty submission would be a deployed testnet version of B.Protocol and built on top of the existing CREAM testnet version.
The main judging criteria are code quality and readiness of the solution for production usage.
Learn more and submit your solution here!
Segment Governance Votes And Create Listing Committee
Regan Bozman and Pierre Chuzeville, on behalf of Dove Mountain, proposed creating different types of C.R.E.A.M. governance proposals - Critical Proposals from Light Proposals. Additionally, the proposal suggests creating a Committee that handles decision making for Light Proposals.
As part of this change, Dove Mountain proposes to adopt Kiba’s proposal to create a Listing Committee and move all decisions around listing new assets and changing collateral requirements to this Listing Committee (inspired by Synthetix Spartan Council).
Please feel free to join the discussion!
New C.R.E.A.M. Supported Assets
Ongoing Snapshot Votes
Approved Snapshot Votes
C.R.E.A.M. Improvement Proposals
What’s Ahead For C.R.E.A.M. Finance
UI / UX revamp
xCREAM
Project Lead Leo Cheng at 88mph next Community Call on May 13th (👀)
Treasury Management updates
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