Review on Cream Finance by Aman Arora
Cream finance is best for swaps and Staking
Cream finance is a compound finance fork and it provide all the services of borrowing, lending, swap various cryptos and stablecoins, Governance , Providing liquidation and tokenization. You can use this service by connecting web3 wallet like Metamask, Trustwallet and need to deposit amount of cryptocuurency as collateral and can borrow crypto. Your amount of deposit should be greater as collateral for any crypto you like to borrow.
Easy to use lending an borrowing facility for several tokens but risk of selling your collateral if the price of overall collaterals fall below 60% atba discount to other users if account is not settled. You can earn APY on lending as you can easily track the amount you get from the dashboard.
Users can easily track the mining pools for staking from the platform and stake and get highest APY. Cream Finance pay those liquidity providers as a cut from fees from swapping to make sure there is enough liquidity for swapping. Fees Charged for swapping is 0.25% from which 0.20% is paid to liquidity providers and 0.05% goes to Cream Finance Network. Fees charging is relatively low as mostly Dex Charges 0.30% for swaps.
As Far as Cream Token is concerned it is to pay as incentice or rewards to users who borrow, lend and provide liquidity to the platform. As Cream is looking for a transition to DAO token holders will be given Governance and voting rights once transition is completed. Cream has very Active Social Media Channels like Medium and Twitter and almost everyday there is new update can be seen and that gives us an idea that community keeps track of everything happening in crypto industry and are very competitive to stay upto date and provide best services.
Cream Token overall supply close to 3 Million with 450k Coins in Circulation. Price is close to $69 and Market Cap of $33 Million. Uniswap and Balancer are responsible for highest volume with Binance is third on the List. Cream token has performed very well even in bearish cycle and With the transition in DAO coming we will see new bullish Trend resume.
With all the facilities of Dex and Defi protocol Cream Finance sets the standard for becoming the best place for swapping with all the facilities of borrowing and providing liquidity to highest performing pools & thats even without locking your tokens. I truly like the facilities and would wait for transitions to sum up and I really would like to get my hands on Cream token and use the services more often than I usually does.
Pros
- Easy to swap tokens to borrow and lend within the same platform
- Competitive features with lowest fees in the Dex and performing liquidation poolsnto choose from
- Staking facility without Locking up period and Governance of Voting
Cons
- Price volitality of tokennis a concern as platform rewards are paid in Cream token and could be a concern for token holders
