The Case for C.R.E.A.M.
You grew on the ETH side, too many fees side, stayin’ alive was no jive. I get it. You’re a simple investor. You want a simple farm. You wanna lock up some funds, hit the button, Lambo delivered. Well, I don’t know if CREAM can get you all that, but it definitely has a sweet side. Allow me to paint the picture.
Scam?
Jeffrey Huang, (@machibigbrother twitter) founder of CREAM, has been fully transparent about CREAM since launch. It is a fork of Compound which is a peer-to-peer (P2P) lending platform. Compound, as you might remember, was the catalyst to this yield-farming craze going all the way back to June of this year. If you can recall that far back. I would definitely want you to DYOR, so here is the link to their Medium page: https://medium.com/@CreamdotFinance
A quick peruse through those articles and you will discover that there was no premine and that all currently circulating tokens are from liquidity mining or “yield-farming”. As for the rest of the tokens, I won’t bore you with specfics, but 20% are locked up for a year, 20% are for liquidity provider incentives (that’s potentially you), 60% is set for governance allocation (also you) and of those tokens, 92.5% of all CREAM tokens are locked in a multisig wallet with one of those key holders being none other than Robert Leshner, CEO, Compound Finance.
Basically, there is no evidence of an exit scam here and it doesn’t look like you’re gonna get dumped on.
Secure?
225,000 CREAM has been allocated to Compound Finance as technical and security advisors. I do not believe there is another formal audit at this time.
Pumpamentals?
Depends on if you are looking short term or long. Short term (14 days), CREAM has seen prices between $70 and $130 give or take a lil sugar. Long term? Let’s be honest, no one thinks that far. At least not today. If you wanna see the future, full valuation is looking like $875,523,015 as per CoinGecko this afternoon.
Market Cap: $14,585,006.
Let that melt down the side of your finger before you lick it up…
That’s a solid 10x potential my bro-bros.
It works just like Compound. You find a coin you have in your wallet, you click “Supply”, you pay the gas, done. So, why fork Compound? Compound is just ok. Annual Percentage Yield or APY on their coins is very low. The coins available to stake are also, for the lack or a better term, uninspiring. CREAM has a plethora of tokens with delicious supply APYs sucn as CRV, LEND, BAL, & LINK. Recent additions include ETH, yETH and the ever popular flavor of the week: SUSHI. You can also supply your CREAM/ETH Liquidity Pool tokens from Uniswap V2 and get APYs above 500%. I am currently not doing that and that’s not why I like CREAM.
The Difference
Most yield-farming platforms are looking for Liquidity Pool tokens and that’s where things can get pretty complex. There are calculations to make, you actually have to know what impermanent loss means, there are more transactions to make, and more gas to spend. You really don’t have to f- with that in CREAM (if you don’t want to). You can gain CREAM by simply supplying any of several different relevant tokens to the platform. One transaction to enable the tokens. One transaction to supply. You will start gaining CREAM rewardsinstantly. If you supply several different coins, your APYs will be averaged together. Every Wednesday, expect a larger reward than normal. It’s a “set-it-and-forget it” strategy.
Tools
I recommend using Brave browser and a Metamask wallet.
Strategy
To address the elephant in the room, no the APY is not 2,000%. However, it feels safe. From my experience. I’m averaging 5% on my investment per week. 90% of those reward tokens are deposited in my wallet every Wednesday, and if I want to pay the gas, I can supply them right back. You even get a greater portion of CREAM by supply CREAM. Fore more specifics go here https://medium.com/cream-finance/v4-beta-liquidity-mining-5c390b1f6b3b
Cons
Mostly? Gas. It isn’t beneficial to come in with a few hundred dollars. I would recommend at least $500 (not financial advice) for any kind of favorable return on those dang fees. There are other features to this platform, such as borrowing and LP token staking, but I’ll leave you to explore those on your own. Those are definitely not cons, per se, but I don’t feel I need to roll like that on CREAM. I have some high-stress farms already in place and CREAM is where I like to chill.
Breakdown of Pros
And I’m sure you’ll find some others.
Full Disclosure: I got in at $60–70 and I’m staking half CREAM, half other stuff. Hope you guys check it out.
Discord Link is here: https://discord.gg/WCNskM
Originally published at https://www.uptrennd.com.
