Explained: C.R.E.A.M. Finance (CREAM)
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Launched in 2020, C.R.E.A.M. Finance, a relatively new DeFi protocol, stands out from numerous offerings in the market. With one of the most extensive and diverse ranges of supported crypto assets in the industry, the protocol has been gaining popularity lately, and now boasts a substantial user base.
Through its unrivaled operations so far, C.R.E.A.M. Finance shows great potential to forever alter the lending-and-borrowing paradigm on the Ethereum blockchain. Here's everything you need to know before you invest in it.
What Is C.R.E.A.M. Finance?
A fork of Compound Finance (COMP), C.R.E.A.M. Finance serves as a multi-purpose DeFi protocol. It’s essentially a peer-to-peer cryptocurrency trading platform, with liquidity mining forming its basis.
The token used by C.R.E.A.M. Finance, CREAM, is an ERC20 standard token that gives its holders governance and economic powers. Participants can engage in network governance and claim a portion of the revenue from token switching on C.R.E.A.M.'s decentralized exchange (0.05% of the 0.25% charge). A total of 9 million tokens were scheduled to be available upon launch. The community, though, voted to lower the maximum cap, and 6 million tokens were burned as a result.