C.R.E.A.M. Launches on Binance Smart Chain
We are proud to announce that C.R.E.A.M. is now LIVE on Binance Smart Chain! Once you’ve got your Binance Smart Chain mainnet setup on your Metamask, simply head to app.cream.finance and you can start supplying and borrowing tokens. At launch, these following tokens are supported: BNB, BUSD, BTC, ETH, XRP, BCH, and LTC.
It’s been almost 2 months since we first announced C.R.E.A.M. Since then, we’ve made good progress, pushing to the #10 spot on DeFi Pulse based on our activities on Ethereum.
Enabling Yield for Unaddressed Assets & Communities
We believe that the financial system of the future should be open and inclusive. Through the permissionless nature of blockchain and automation of smart contracts we can realize this new financial system. Binance already offers an easy path for holders of BTC, ETH, XRP, BCH, LTC and more to transfer their tokens from their native blockchain onto Binance Smart Chain. Today, token holders can simply send their tokens into Binance.com and withdraw BEP20 versions of these coins today. No additional wrapping is required. These communities can soon join in on supply and borrowing tokens as well as the yield farming fun on C.R.E.A.M.
Binance Smart Chain is Fast and Affordable
Building on Binance Smart Chain has many benefits outside of the major, unaddressed assets mentioned above. The most immediate benefit that came to many of us testing out the BSC version of C.R.E.A.M. was clearly the speed and cost advantages of BSC. No longer are we checking gas costs and having to send transactions over existing, slower transactions, we are also paying only $0.05-$0.10 per transaction.
Solving the UI/UX Problem with the Binance Ecosystem
This first version of C.R.E.A.M. on BSC requires web3 integration to use, which means only a small subset of cryptoasset holders will actually be able to use C.R.E.A.M. on BSC. As the Binance ecosystem continues to evolve, we expect that integration of DeFi with the Binance.com and Binance mobile applications will soon make it easier for end users to access DeFi without the web3 complexities. The ability of accessing DeFi via CeFi goes beyond participating in the money legos. For decentralized governance to flourish, barriers to participating in governance needs to be as low as possible. Many mainstream users will care less about privacy and decentralization, but more about ease of use and access.
Finally, the Binance ecosystem and its reach of 400,000+ accounts and fiat gateways covering over 170 countries and regions will help get DeFi into mass adoption.
Kicking off BSC Launch with Yield on Monday, September 14th
To welcome the Binance community onto C.R.E.A.M., we are kicking off liquidity mining with 1000 CREAM per day for 7 days, 500 for supply and 500 for borrowing, starting in the evening of Monday, September 14th, UTC+8. Exact time will be announced on our Twitter on Monday. We will reassess rewards toward the end of this 7 day period.
The amount of CREAM rewarded is based on the value of tokens supplied and borrowed. Specifically:
Tokens Supplied: [Supply / Total supply] * 500 CREAM per day.
Tokens Borrowed: [Borrow / Total Borrow] * 500 CREAM per day.
Tokens earned will be distributed when users interact with the smart contracts. Hit us up if you have any questions. For some great guides on how to use Binance Smart Chain, please scroll down. 👇
Crypto Rules Everything Around Me, C.R.E.A.M.
Guide for connecting to Binance Smart Chain:
- Spartan Protocol’s guide to setting up metamask for Binance Smart Chain & transferring BEP2 assets onto BEP20: https://medium.com/@spartanprotocol/spartan-protocol-burn-event-goes-live-ec8dfd2aedf5