Cream Finance (CREAM), a DeFi platform, offers services like lending, making payments, and tokenization of various assets. Launched as a hard fork of Compound Finance (COMP), CREAM uses Balancer Labs infrastructure for its trading operations.
Cream Finance is an open-source, permissionless, blockchain-focused peer-to-peer cryptocurrency and DeFi protocol that offers yield farming. The acronym CREAM, standing for Crypto Runs Everything Around Me, emphasizes that DeFi applications in the cryptocurrency sector can provide everything users need. Launched on August 3, 2020, and utilizing the YOLO liquidity pool, CREAM transitioned to the Binance Smart Chain network in September 2020.
CREAM token holders can use this platform to buy and sell tokens, obtain cryptocurrency-backed loans, exchange their assets for others, and even use CREAM tokens to vote on network changes.
The founders of CREAM Finance are known to be Jeffrey Huang and two anonymous individuals. Huang had previously developed the Mithril cryptocurrency project, gaining significant recognition.
The distribution of tokens is explained as follows:
- 10% of the tokens go to the team and advisors, with 75% locked up for four years.
- 10% of the tokens will be used for core funding over four years.
- 20% of the tokens will be used for liquidity provider incentives.
- 60% of the tokens will be utilized by the community.
What is Cream Finance (CREAM)?
CREAM is known as the native cryptocurrency of the Cream Finance platform. On the platform, CREAM can be used to exchange various cryptocurrencies such as COMP, BAL, YFI, LEND, CRV, renBTC, and LINK. Additionally, the platform supports trading of stablecoins.
At the time of writing this article, Cream Finance Coin is trading at $110 and ranks 321st. The total supply of Cream Finance Coin is 9 million, with 616,378 CREAM Finance in circulation. Cream Finance had faced a significant attack at the beginning of 2021.
Where to Buy CREAM Coin?
To purchase Cream Coin, one of the world’s largest cryptocurrency exchanges, Binance can be used. Binance‘s listing had even led to a significant price increase for Cream.
