C.R.E.A.M. Finance
Published in

C.R.E.A.M. Finance

Bullish YFI/USDC pool; CREAM Supply Reward Change

Today we are announcing the addition of the Bullish YFI/USDC pool on Swap to help YFI token holders stay more bullish on YFI while providing liquidity. This new YFI liquidity provider option reduces the amount of impermanent loss YFI liquidity providers experience. Also, we are making changes to relieve the current CREAM liquidity crunch by changing to the CREAM Supply ONLY reward distribution.

Bullish YFI/USDC Pool

The C.R.E.A.M. community has always enjoyed a strong crossover with the Yearn Finance community. It’s no secret that we are fans of Yearn’s work as well as being bullish on the future of the YFI network value. Tonight we are launching a YFI/USDC pool with a 80% YFI and 20% USDC composition to provide a bullish pool option for YFI token holders.

This pool allows users to contribute to additional YFI liquidity while taking a more bullish position, keeping more of your precious YFI as it moons while also selling more YFI on pullbacks. Compared to a 50/50 pool configuration, liquidity providers in the BULL YFI pool would see their pool value track more closely to YFI movement due to the 80/20 configuration favoring YFI.

The CREAM reward bonus for this pool will be 500 CREAM per day. To participate in the rewards, users will need to add liquidity to Swap from app.cream.finance/pools and stake their CRPT token on the Reward page at app.cream.finance/reward. CREAM rewards will be claimable on-demand by users. Deposits will begin around 11pm UTC+8 September 11, which is about 4 hours from the time of this post. Rewards will begin ~1 hour after that, around 11:59pm UTC+8.

Addressing the CREAM Liquidity Crunch — CREAM Supply ONLY Reward Change

Starting this evening, CREAM Supply ONLY Reward will only be given to those who supply CREAM and stake their crCREAM tokens into the Reward section at app.cream.finance/reward.

We’ve found ourselves in a liquidity crunch again for CREAM. In order to fix this, we are taking the approach of updating incentives to where ONLY the suppliers of CREAM can receive this reward. Starting tonight at ~11:59pm UTC+8, holders of the crCREAM token will need to stake their crCREAM token app.cream.finance/reward and can claim their tokens on demand.

For those staking crCREAM/crYFI, you will no longer be stacking rewards after this change and only earn your staking reward. Your earned CREAM Supply ONLY reward for 9/10 and 9/11 will be distributed next week Wednesday, along with the SRM rewards.

By supplying crCREAM, this is a form of staking that is providing the value of liquidity for the CREAM network.

What Should You Do?

If you hold YFI and USDC and would like to participate in the pool rewards, please deposit your YFI/USDC and stake your CRPT around 11pm UTC+8 tonight ahead of the start of rewards ~11:59pm UTC+8.

If you want to collect part of the CREAM Supply ONLY reward, please be sure to stake your crCREAM around 11pm UTC+8 tonight ahead of the start of rewards ~11:59 pm UTC+8.

C.R.E.A.M. DAO
Crypto Rules Everything Around Me, C.R.E.A.M.

Join us on Discord, follow us on Twitter, or visit us at cream.finance.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
C.R.E.A.M.

C.R.E.A.M.

9.2K Followers

C.R.E.A.M Finance is a decentralized lending protocol. Crypto Rules Everything Around Me.