Our DNS has been compromised by a third party; some users are seeing requests for seed phrase on app.cream.finance. DO NOT enter your seed phrase.
We will never ask you to submit any private key or seed phrases.
Introducing The Iron Bank 🏦
- Zero collateral, protocol-to-protocol lending platform and liquidity backstop for the entire #DeFi ecosystem
- Launch Partners: Alpha Homora V2 @AlphaFinanceLab & Yearn v2 leveraged vaults @iearnfinance
Read more 👇
medium.com/@CreamdotFinance/…
To our community ~ cream.finance and app.cream.finance are now considered compromised sites - DO NOT USE either domain until further notice.
We have purchased and deployed to app.creamfinance.co - this site is SAFE to use.
We are excited to announce, after working closely with our friends at @iearnfinance, the Iron Bank is now live on Fantom.
This is a part of our broader joint strategy to align incentives and grow the Iron Bank as the liquidity backstop for DeFi.
medium.com/cream-finance/c-r…
Announcing the addition of SushiSwap and Uniswap LP tokens as collateral for borrowing and lending on C.R.E.A.M.
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@SushiSwap@UniswapProtocol
C.R.E.A.M. contracts and markets were investigated and found to be functioning as normal. Markets have been re-enabled across both V1 and V2.
Post mortem to follow.
C.R.E.A.M. v1 market on Ethereum has suffered an exploit, resulting in a loss of 418,311,571 in AMP and 1,308.09 in ETH, by way of reentrancy on the AMP token contract.
We have stopped the exploit by pausing supply and borrow on AMP. No other markets were affected.
In partnership with @PleasrDAO, we’re pleased to announce the first DAO-to-DAO loan using the Iron Bank. A $3.5m loan has been provided and is backed by a basket of historical Foundation NFTs.
A quick thread on why this is exciting👇
📢 1/ We are proud to announce that C.R.E.A.M. is now LIVE on @FantomFDN 🍦🍦🍦
At launch, 19 assets are supported:
wFTM, CREAM, WETH, wBTC, DAI, USDC, YFI, SUSHI, AAVE, CRV, BAND, KP3R, sUSD, COVER, HEGIC, LINK, SNX, SFI, FRAX
Dear C.R.E.A.M. Community and Partners,
We appreciate your support as we work through the next steps for C.R.E.A.M. Finance and what this means for everyone. We explored every option that was available to us before arriving at the conclusion that this is the best path forward.
🎉We're thrilled to announce that the Iron Bank is now live on a third chain @avalancheavax!
Built by @avalabsofficial, Avalanche is a blazingly fast, low cost and eco-friendly smart contracts platform.
Users can access using 👉app.cream.finance
We're thrilled to announce that C.R.E.A.M. is now live on @arbitrum ✨🍦
Users can supply and borrow ETH, USDC, and USDT at app.cream.finance
To get started on Arbitrum bridge funds at bridge.arbitrum.io
Dear C.R.E.A.M. community, partners & friends, thank you for all your support and commitment.
Per the Iron Bank announcement, $CREAM token holders will be eligible to receive IB token distribution in the form of 4-year locked veIB on Fantom Opera.
ibdotxyz.medium.com/the-iron…
We appreciate the patience of our community as we work through next steps. Once further details are finalised, we will be able to share more to our community and thank everyone again for their support.
1/ 🙌To our community~ we wanted to update you on the recent DNS hijack and let you know that all users funds are safe as there are no issues with our smart contract.
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medium.com/cream-finance/pos…
🔥The first step in building bridges between DeFi and NFTs is to create greater capital efficiency for their tokens through borrowing/lending opportunities.
We are excited to announce we have now grown our NFT/Metaverse asset support to include:
$AXS$OGN$MANA$RARI$SAND$YGG
1/ @CreamdotFinance is live on Fantom. This allows users to lend, and borrow on using Cream on Fantom just like they would on Ethereum.
Having a money market such as Cream on the network will be essential for composability.
fantom.foundation/blog/how-t…
C.R.E.A.M. has come full circle
The protocols name was inspired by @WuTangClan
And now @PleasrDAO — leveraging financing from the Iron Bank — has purchased WuTang’s “Once Upon a Time in Shaolin” Album
In partnership with @PleasrDAO, we’re pleased to announce the first DAO-to-DAO loan using the Iron Bank. A $3.5m loan has been provided and is backed by a basket of historical Foundation NFTs.
A quick thread on why this is exciting👇
Today, we are introducing flash loans across the full C.R.E.A.M. ecosystem 🍦 —
- Iron Bank
- CREAM v1
- CREAM BSC
- CREAM Fantom.
medium.com/cream-finance/int…
Announcing C.R.E.A.M. Swap, a decentralized exchange with automated market makers (AMM) on app.cream.finance. Users can easily optimize their yield within the C.R.E.A.M. platform or outside of our platform by swapping between collateral positions.
medium.com/cream-finance/ann…
🎉 $COVER has been added to C.R.E.A.M. on #Ethereum. Users can now supply and borrow at app.cream.finance
Proposal passed and executed!
20.12k CREAM ✅
0 CREAM ❌
As we head into 2021 building CREAM v2, we begin with a brief review of what we've built since our launch in Aug 2020:
- CREAM v1 - Lending and Borrow
- C.R.E.A.M. Swap - General AMM
- creamY - Stablecoin AMM
- Lending on #Binance Smart Chain
- #Eth2 Staking: ~25k $ETH to date
iceCream holders have voted to upgrade the existing Fantom markets to *Iron Bank Fantom* and shift the UI to @iearnfinance frontend.
Governance for *Iron Bank Fantom* will be transferred from @CREAM_listing to the Iron Bank team.
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vote.cream.finance/#/proposa…
📢 #CRETH2 v2 tokens have been reissued and distributed to addresses with CRETH2 as of Nov-02-2021 03:40:48 AM +UTC, Block 13535273.
Redemption of CRETH2 for Eth2 will be based on the new CRETH2 tokens.
Swap Launches tomorrow, with liquidity mining starting Sept 8th, 11:59pm UTC+8. (~24 hrs from this post)
v5 Beta Mining Rewards announced for both lending and AMM platforms.
Heavy $CREAM coming your way. 🍦🍦🍦🍦🍦🍦🍦🍦
medium.com/cream-finance/swa…
Our Ethereum C.R.E.A.M. v1 lending markets were exploited and liquidity was removed on October 27, 1354 UTC. The attacker removed a total of ~$130m USD worth of tokens from these markets, using this address: etherscan.io/address/0x24354…
No other markets were impacted.
Joint announcement between Alpha and @CreamdotFinance on the funds repayment details.
Now that we have overcome one of the most challenging times for a DeFi project, we are more than excited for what is to come for both Alpha and C.R.E.A.M. 🚀
TL;DR 👇
medium.com/cream-finance/joi…
Bug Bounty:
We encourage the attacker to reach out and begin a dialogue for the return of our users' funds. They are impacting everyday users of DeFi and we would like them to do the right thing. We will honor a bug bounty of 10% upon return of funds.
Next week, C.R.E.A.M. will become the first DeFi money market to list @SushiSwap LP positions as collateral.
Supplied SLP will be routed back to SushiSwap to earn $SUSHI, staked back for $xSUSHI. SLPs to be listed:
WBTC-ETH
DAI-ETH
USDC-ETH
ETH-USDT
SUSHI-ETH
YFI-ETH
Alpha Homora V2 Exploit Post Mortem
- Our friends at @AlphaFinanceLab was exploited for ~$38M USD
- Debt exists between protocols and Alpha Homora V2 will repay The Iron Bank
- C.R.E.A.M. V1 on Ethereum and #BSC were not impacted
- V1 TvL drop due to ~$400-million $FTT departure
Our security and technical advisor Compound Labs, led by
@rleshner, have confirmed their participation in the long-term $CREAM stake pools.
We are grateful for their mentorship and long-term commitment to C.R.E.A.M.
This is unfortunately also happening at @PancakeSwap - be careful out there and do not share your private keys nor seed phrase on any websites or chats.
This is now confirmed.
DO NOT go to the Pancakeswap site until we confirm it is all clear.
NEVER EVER input your seed phrase or private keys on a website.
We are working on recovery now.
Sorry for the trouble.
No VC raise ✅
Fair launch token supply ✅
Project burned over 2/3 of token supply ✅
After exploit of 140m, team gave up all team allocated tokens to compensate victims ✅
Returned 200m to exploit victims ✅
Listed on @binance ✅
DeFi for Memecoins
Since our launch less than 2 months ago (Aug 3), we've accumulated the following fees in the protocol, based on current valuations:
Lending: $641k
Swap: $159k
creamY: $15k
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Fees Collected: $815k
Owner: $CREAM hodlers.
🙌 We have regained control of DNS and everything is back to normal on cream.finance and app.cream.finance
These sites are now safe to use.
Thank you for your patience as we are continue to monitor this situation. 🙇🏼♀️🙇♂️
The Iron Bank is the most capital efficient bank in crypto - with a total market utilization rate of 64%
The IB has 7 assets with a utilization rate greater than 50%: SUSD, USDC, SNX, USDT, DAI, ETH, and WBTC
C.R.E.A.M. lists $SUSHI 🍣, $FTT
We welcome @NomiChef and his crew to join us by making celebratory Philadelphia rolls. We invite @SBF_Alameda and the Alameda / FTX teams to milk some $CREAM and join us in the future governance of the C.R.E.A.M. platform.
medium.com/cream-finance/sus…
📢[C.R.E.A.M. Feb Treasury Management]
To secure the health and longevity of C.R.E.A.M., between Feb 17 and Feb 22, we converted various crypto assets into ~$5M USD of yield-generating stablecoins and executed on the $CREAM buyback & make on @SushiSwap 👇
medium.com/cream-finance/c-r…
We're going to support the $BOBA token airdrop for the $OMG liquidity providers on C.R.E.A.M.
As a result, we will be holding a 30mins AMA with @bobanetwork on Oct 28th 3pm UTC.
Join the AMA🙌discord.gg/bhMdEmG
Check details👉boba.network/airdrop/
We have tightened our token listing strategy to no longer include long-tail assets nor tokens that can be wrapped/unwrapped. Collateral Cap limits are deployed across all markets to increase security. Additional monitoring and alerting solutions are being implemented.
📢1/ We completed an audit of C.R.E.A.M. v1 and v2/Iron Bank with @trailofbits and completed the audit in January. No high severity vulnerabilities were identified.
Details👇
(EN)bit.ly/3cyesL9
(中文)bit.ly/3t4ep00
(한국어)bit.ly/30xi4Ya
Dear C.R.E.A.M. community, partners & friends- in parallel with the below announcement, we'd also like to welcome back our founder @machibigbrother to steward the protocol after being away for over 15 months.
Some important updates also in this thread.
Clarifying 2020 Mergers; An Independent Iron Bank
A joint announcement from Yearn Finance, SushiSwap, C.R.E.A.M. Finance, Akropolis, Pickle Finance, and Iron Bank
medium.com/iearn/clarifying-…
We will distribute 1,453,415 CREAM tokens to impacted users. We are utilizing remaining CREAM tokens within the treasury, and removing the project team's remaining CREAM token allocation. There will be no further CREAM allocations to the team.
A new CREAM lending pool has launched on Ethereum mainnet, where users can supply and borrow against $CREAM, $WETH, $USDT, and $USDC.
This is an isolated liquidity pool from the existing Ethereum Mainnet markets.
Visit og.cream.finance to use this CREAM lending pool.