CREAM Token and Protocol Plans
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:
crETH 0xD06527D5e56A3495252A528C4987003b712860eE
crUSDT 0x797AAB1ce7c01eB727ab980762bA88e7133d2157
crUSDC 0x44fbebd2f576670a6c33f6fc0b00aa8c5753b322
crYFI 0xCbaE0A83f4f9926997c8339545fb8eE32eDc6b76
crBAL 0xcE4Fe9b4b8Ff61949DCfeB7e03bc9FAca59D2Eb3
crCOMP 0x19D1666f543D42ef17F66E376944A22aEa1a8E46
crYCRV 0x9baF8a5236d44AC410c0186Fe39178d5AAD0Bb87
crCREAM 0x892B14321a4FCba80669aE30Bd0cd99a7ECF6aC0
crLINK 0x697256CAA3cCaFD62BB6d3Aa1C7C5671786A5fD9
crLEND 0x8B86e0598616a8d4F1fdAE8b59E55FB5Bc33D0d6
crCRV 0xc7Fd8Dcee4697ceef5a2fd4608a7BD6A94C77480
crRENBTC 0x17107f40d70f4470d20CB3f138a052cAE8EbD4bE
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.
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