C.R.E.A.M. Finance and Yearn Finance Take The Next Step In Their Collaboration— Launching the Iron Bank On Fantom
Today, C.R.E.A.M. Finance is excited to announce the next step in our collaboration with Yearn Finance — together we have officially launched the Iron Bank on Fantom. Additionally, C.R.E.A.M. and Yearn will work as partners to build multi-chain strategies, and will move as a unit to new chains.
In November 2020, C.R.E.A.M. Finance deepened its relationship with Yearn Finance to collaboratively build the Iron Bank.
The Iron Bank is a more flexible version of C.R.E.A.M. v1, allowing peer-to-pool lending for users, as well as whitelisted borrow agreements for protocols. To learn more about the Iron Bank, please refer to this launch post.
What happens next and how does this impact the C.R.E.A.M. Community?
In order to jump start Iron Bank liquidity, we have updated the C.R.E.A.M. Fantom market to Iron Bank Fantom. No action is required for users who have outstanding supply or borrow balances on Fantom C.R.E.A.M. markets.
It’s important to note that for individual users of C.R.E.A.M. Fantom, the frontend will be moved from app.cream.finance to yearn.fi (and https://beta.yearn.finance/#/ironbank, which will be moved to yearn.finance soon). However, this won’t happen immediately. We will leave the Fantom markets displayed on app.cream.finance for an interim period, but over time this site (on Fantom) will be deprecated and direct all traffic to Yearn’s frontend.
For $CREAM token holders who have staked for $iceCREAM, they will continue to be allocated a portion of protocol fees across all chains IronBank is deployed.
For the Builders, this upgrade allows the Iron Bank to provide loan agreements to protocols on Fantom, and new chains in the future. This will enable developers to build new products, as well as some of the same features and partnerships as Iron Bank on Ethereum — such as Yearn Vault integrations and Alpha Homora v2 strategies.
What does this mean for C.R.E.A.M. Finance and Yearn Ecosystem?
The Iron Bank is the official lending arm of the Yearn Ecosystem.
Together, the C.R.E.A.M. and Yearn teams are looking to innovate on crypto ‘corporate structures’ by further aligning incentives and working towards common goals.