C.R.E.A.M Upgrades All Lending and Borrowing Markets to Integrate Band Protocol Oracles
C.R.E.A.M Finance, a cross-chain decentralized money market and close collaborator of Yearn.Finance, has completed integration with Band Protocol price oracles on Binance Smart Chain and Fantom — upgrading all lending markets. The integration comes to increase the degree of security and trust deep into the protocol level to secure more than $622M in total value locked in C.R.E.A.M for borrowing, flash loans and more. C.R.E.A.M users can now rely on secure and truly decentralized oracles, consistently updating to reflect accurate and fair market prices.
“Timely and decentralized price feeds are critical to the security of DeFi. Using Band Protocol’s battle-tested solution across multiple networks enables all users to leverage highly accurate and rapidly updating price feeds when interacting with the C.R.E.A.M. money markets and flash loans.”
Leo Cheng, Project Lead & Co-Founder of C.R.E.A.M. 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 and is live on Ethereum, Binance Smart Chain, and Fantom. Together with Yearn as the in-house money market, C.R.E.A.M is constantly innovating bringing products such as Iron Bank, Flash Loans among others to market. Band Protocol is proud to support C.R.E.A.M as they ramp up towards their redesign release and expand into staking services.
Unlocking Extensive Market & Asset Coverage Through Band Oracles
C.R.E.A.M is a cross-chain decentralized money market that must ensure all facets of the protocol including collateralization, liquidation, borrowing and exchange rates are functioning reliably based on reliable external information provided by Band Protocol.
Band Protocol provides C.R.E.A.M with integration-ready price oracles for over 196+ digital assets, foreign exchange and commodities on the Band Standard Dataset which is widely available on leading blockchain platforms such as Ethereum, Binance Smart Chain, Fantom.
Both teams have completed integration for existing markets and recent additions such as SUSHI, IOTX, SXP with many more in progress. We will continue to work closely together as both projects grow to support DeFi in a stage of rapid growth.
About C.R.E.A.M. Finance
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 and Fantom.
Users who are passively holding Ethereum or Bitcoin can deposit their assets on C.R.E.A.M. to earn yield, similar to a traditional savings account.
About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.