CREAM Token and Protocol Plans
As part of building an open and inclusive financial system, we want to share with our community updates and additional information regarding planned CREAM distribution, along with our move to secure key assets into a multisig wallet with trusted community leaders. Let’s dive right in.
CREAM Token Info
Cream.finance started with no CREAM premine. All currently circulating tokens, 67,142.85, are from liquidity mining rewards — 50,000 from our YOLO Alpha Launch pool, and 17,142.85 so far from our Beta Liquidity Mining program.
Breakdown of the 9,000,000 CREAM tokens is as follows:
10%, 900,000 — Team*, vesting over 2 years, 6 month cliff.
10%, 900,000 — Seed, vesting over 2 years, 6 month cliff.
20%, 1,800,000 — Liquidity Provider Incentive
60%, 5,400,000 — Governance Allocation
*25% of the team allocation, 225,000 CREAM, has been allocated to our technical and security advisor Compound Finance, distributed monthly, 37,500 per month. These tokens are legally locked. They will not enter circulation until February 8th, 2021.
We have moved 8,325,000, 92.5% of CREAM tokens into the multisig wallet.
Multisig Wallet [updated 8/24]
The multisig wallet that we’ve setup now hold 92.5% of the CREAM tokens and control most of the smart contracts on Cream. The set of key holders are:
Robert Leshner, CEO, Compound Finance
Peter Pan, Summoner, MetaCartel, MetaCartel Ventures
Darius Sit, Founder, CIO, QCP Capital
Andrew Kang, Mechanism Capital
Leo Cheng, Summoner, Machi X DAO
Wilson Huang, Founder, Steaker.com
Jeremy Yang, Technical Lead, Cream Finance
Bun Hsu, Senior Engineer, Cream Finance
Stanley Ding, Senior Engineer, Cream Finance
Smart contracts that this multisig wallet controls are:
For operational efficiency, the Comptroller smart contract, 0x3d5BC3c8d13dcB8bF317092d84783c2697AE9258, will remain with the team in the meantime and move to the multisig in the future. This contract cannot mint additional tokens and present low risk for token holders.
Transfer of ownership is complete. With this change, we have added a new layer of security with fault tolerance.
I’d like to personally thank Robert and the team at Compound for making C.R.E.A.M. possible.
Jeffrey Huang, Founder
Crypto Rules Everything Around Me, C.R.E.A.M.