Cream finance defi

cream finance defi

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C.R.E.A.M. Finance helps provide liquidity to important DeFi assets through automated market making (AMM), allowing users to borrow and lend supported assets and earn liquidity mining rewards in the form of its CREAM token by supplying any supported asset as collateral. In return, it collects swap, lending and borrowing fees from users.

C.R.E.A.M. Finance is a decentralized lending protocol for individuals, institutions and protocols to access financial services. Part of the yearn finance ecosystem, it is a permissionless, open source and blockchain agnostic protocol serving users on Ethereum, Binance Smart Chain, Polygon and Fantom.

What is Cream Finance? Cream Finance is a multi-purpose DeFi protocol that is forked from Compound Finance ( COMP ). Cream Finance primarily functions as a peer-to-peer cryptocurrency exchange and lending platform. This type of platform works based on liquidity mining. Cream Finance's token is CREAM.

Cream. Crypto Rules Everything Around Me. Go to App Go to Forum Documentation. Proudly powered by Cream.Finance ...

C.R.E.A.M. Finance is a decentralized lending protocol for individuals and protocols to access financial services. The protocol is permissionless, transparent, and non-custodial. Currently, C.R.E.A.M. is live on Ethereum, Binance Smart Chain, and Fantom.

What is Cream Finance? C.R.E.A.M. is a crypto lending and borrowing dApp based on the Compound protocol with altered pools assets and own governance token. Cream Finance token: $CREAM . Cream Finance contract address: 0x2ba592F78dB6436527729929AAf6c908497cB200 $CREAM Charts and Liquidity Cream Finance Usage Statistics

CREAM Finance is a protocol for decentralized lending and borrowing of digital assets or cryptocurrencies. The users can also make money with the help of features/services like SWAP. Users can earn significantly more profits provided they know what they are doing and how the markets vary based on the pool sizes and the supply to demand ratio.

CREAM Finance is a decentralized swap borrowing and lending protocol and automated market maker, where users can leverage their own crypto as collateral in order to borrow, or supply them to the platform as liquidity for lending or token swapping, activities that can yield interest and rewards for users.

Cream Finance has been hacked, losing over $130 million. This marks the third time the DeFi protocol has been hacked. Cream Finance is a lending and borrowing protocol that runs on the Ethereum network. The attack—a flash loan identified by PeckShield Inc.—resulted in mostly Cream tokens, CREAM, being stolen.

CREAM is a peer-to-peer lending protocol on the Ethereum network. The differentiator between CREAM Finance and Compound is the additional assets on CREAM, such as $CRV and $YFI. While the latest attack does not come as a surprise, it's marked as the third biggest hack in DeFi history.

The CREAM name is acronym for "Crypto Rules Everything Around Me". The platform was created by forking the Compound Finance protocol, which was tweaked to focus on support for governance and liquidity tokens from other DeFi protocols. This provided lending markets for a wide range of tokens that were not previously supported by any other major lending protocols. The original version of the CREAM Finance protocol was well-recognized by its quirky and colorful user-interface.

There is no technical documentation, and the only way to learn about CREAM is to use it, read their Medium blog posts, or engage with the community on Telegram. However, if everything goes to plan, CREAM stands a decent chance to become the first cheap DeFi project, potentially attracting many retail investors through the use of Binance Smart Chain. According to Cream developers, gas fees will no longer be an issue, as transactions on B.S.C. only cost $0.05-0.10.

The attack on Cream Finance comes just days after Poly Networks suffered a $610 million theft, the largest DeFi breach in history, before the money was returned by the attacker in a weird twist,...

Cream finance, a defi borrowing and lending protocol, has been the victim of a hack that erased more than $29 million from its vaults. The attacker took advantage of a loophole in the implementation for adding the amp token to the protocol. This is the second time the platform has been involved in a hack.

It is a testament to the resilience of Cream Finance to see they're still around after what can only be described as a chaotic history. The first issue has been the hacks. In February, Alpha Finance and Cream were targeted by one of the most lucrative hacks in the history of DeFi: a flash loan attack that cost both protocols $37.5 million. The hackers exploited a loophole in Alpha Finance's code and managed to borrow from the Iron Bank protocol.

This seems to be the latest joint effort by DeFi protocols that have aligned themselves with the Yearn ecosystem, the Cream team believes that The Iron Bank will enable greater capital efficiency in DeFi than ever before. There are only 3 listed assets that can be borrowed at the time of this writing including wETH, DAI, and y3Crv.

Cream Finance is a decentralized finance platform that lets users earn interest on their idle cryptocurrencies. Unlike Platforms like Aave or Compound, Cream has many more markets for many more esoteric cryptocurrencies. Cream is a fork of the Compound code base. In February this year, Cream was involved in another hack. At that time, an exploit of Alpha Finance was the root cause of the attack, which ultimately resulted in the loss of $37.5 million.

CREAM is currently hovering around $163. With the news coming in the wake of regular attacks on DeFi and cryptocurrency platforms, developers have to do a lot of work to prevent hackers from taking advantage. In the meantime, with two hacks in one year, Cream Finance's reputation as a safe platform may stand compromised.

Pledge Finance Pledge Protocol ("Pledge") is an algorithm-driven lending platform on the Binance Smart Chain 1 . Pledge is a decentralized protocol 2 which establishes money markets with algorithmically fixed interest rates and provides its own token in an exchange called tokens based on supply and demand of certain cryptocurrencies.

October 27, 2021. Byte, DeFi News. DeFi lending protocol CREAM Finance has been exploited for $130M, CREAM said in a tweet . "We are investigating an exploit on C.R.E.A.M. v1 on Ethereum and will share updates as soon as they are available," the CREAM Twitter account noted at 11:04 AM New York time. The attack would be the third-largest in ...

In the ever-evolving world of DeFi, CREAM Finance creators said they would be working with Yearn Finance to launch Cream v2 or the Iron Bank. The integration into the Yearn Finance ecosystem, DeFi fans and observers say, is a game-changer and would ultimately push capital efficiency to a new level. Why the Iron Bank is a Game-changer. Here's why.

Decentralized finance protocols (DeFi) Cream Finance and Alpha Finance were victims of one of the largest flash loan attacks ever Saturday morning, resulting in a loss of funds totaling $37.5 ...

January 13, 2022 by John Flores. DeFi Cream Finance Loses $130 Million in Crypto Hack! DeFi protocol Cream Finance suffered yet another hack this year after an exploit stole at least $130 million in what could be one of the largest thefts in decentralized finance. The attack on the Ethereum-based lending protocol was first reported by The Block ...

The DeFi industry has come under attack again as the popular CREAM Finance was hacked. As a result, the price for the CREAM token dropped by around 40% in less than a few minutes. February 13, 2021 | AtoZ Markets - The CREAM Finance team reported that the incident occurred on Saturday, February 13.

What is CREAM Finance? An acronym for Crypto Rules Everything Around Me, CREAM Finance is a blockchain-agnostic, smart contracts-powered combination of DeFi protocols. It offers a wide variety of general blockchain-based financial services, with the aim of making DeFi more accessible and inclusive than its traditional counterpart, CeFi.

The Ethereum -based lending and borrowing protocol lost a total of $130 million. The last time Cream Finance faced a similar flash loan attack was in August 2021 wherein it lost $25 million. Prior ...

The team behind Cream Finance has confirmed that the decentralized finance (DeFi) lending and borrowing platform has lost $130 million in Cryptocurrencies to hackers on Wednesday. "Our Ethereum C.R.E.A.M. v1 lending markets were exploited and Liquidity was removed on October 27, 1354 UTC," the official Twitter handle of the DeFi platform wrote.

Lending and borrowing Cream Finance DeFi project falls victim to a large, multi-million dollar exploit worth $25 million as the attacker drained Ampleforth's AMP token and 1308 Ethereum. The total sum amounts to $25,678,948 but the price of AMP already dropped by more than 15% at press time according to CoinGecko.

Cream Finance today confirmed in a tweet that it has been exploited and lost about US$130 million worth of tokens. "Our Ethereum C.R.E.A.M. v1 lending markets were exploited and liquidity was removed on October 27, 1354 UTC," the company said in the tweet. The DeFi platform said that it has halted its "v1 lending markets" on Ethereum ...

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