CryptoTicker: Yearn Finance And C.R.E.A.M. Finance In DeFi Collaboration
In a significant development, Yearn Finance and CREAM Finance developer teams have decided to join hands together to launch Creamv2 and collaborate on more DeFi projects on Nov 26. Cream v2 will combine lending and leverage to enable another interesting DeFi experiment. It will also become the flagship project of the Yearn/Cream partnership and the first of many collaborative projects.
https://twitter.com/iearnfinance/status/1331978312642666497?s=19
This collaboration will see two major DeFi teams combining resources, leading to Total Value Locked (TVL) increase for both projects. It will also allow Yearn vault shares to serve as collateral and yearn strategies accessing leverage in Cream. Also, it will pave the way for the yearn designed StableCredit, another 0 collateral protocol credit solution and pair lending. The existing tokenomics, governance processes and other platform parameters for Cream will not be affected by this venture.
https://cryptoticker.io/en/yearn-finance-yfi/
What’s StableCredit?
StableCredit is a yearn.finance DeFi product, which is still under development. It aims to combine/automate three DeFi services like synthetic debt minting, decentralized lending and automated market making. Once launched, it will allow users to mint synthetic credit by providing crypto as collateral, accessing a line of credit (LOC) to borrow other assets and finally trade the borrowed asset.
https://cryptoticker.io/en/bancor-v2-1-introduced/
It’s AMM services will also feature single side liquidity provision currently only featured in Bancor v2. As Cream Finance specializes in lending related products, this collaboration will assist with StableCredit launch. This service builds on the existing DeFi infrastructure and will allow common users to easily borrow/trade crypto-assets.
About C.R.E.A.M. Finance
C.R.E.A.M. is short for Crypto Rules Everything Around Me. C.R.E.A.M. Finance is a set of DeFi protocols. Currently available for Ethereum and Binance Smart Chain, it offers services for lending, derivatives, payments, exchanges, market making and asset tokenization. It supports Ethereum Virtual Machine (EVM) allowing greater compatibility.
About Yearn Finance YFI
Introduced on July 17 by Andre Cronje, the platform allows users to provide funds to vaults, which automatically rotate them between dYdX, Aave and Compound lending protocols, in search of the best yield. The entire process is managed by a smart contract and is fully automated. The yield providers earn profits for staking their funds, as well as acquiring the native YFI tokens. This allows them to participate in governance and vote on important parameter changes. It can also be sold on exchanges for profit. The total supply is capped at 30,000 YFI tokens.
yearn.finance yfi explodes© Cryptoticker
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