How to earn high APY with C.R.E.A.M. ETH2 Staking

As of this writing, we have 24,743.81 ETH (~US$13.6M) deposits on C.R.E.A.M. Eth2 staking.

The Creation of CRETH2 and New $CREAM Rewards

At C.R.E.A.M, we’re all about financial freedom — even staked assets should be able to flow smoothly through DeFi. That’s we created CRETH2 — a synthetic on-chain asset that represents a users’ claim to the 24,743.81 ETH. Each CRETH2 is backed 1:1 by the ETH staked through C.R.E.A.M. to the Eth2 Beacon Chain and can be used on our platform to borrow, lend, and swap.

Since the proposal for the CRETH2 reward plan was passed via governance vote on Snapshot just over two weeks ago, we have introduced 2 new ways to earn CREAM rewards for CRETH2.

We are confident that this is the most competitive return you can make on your staked ETH2 in the market today. These rewards will be released for a limited time, so we’re writing to help make sure you know how to get in on the action:

• Rewards for the CRETH2/WETH liquidity pool will end on December 23th 23:59 pm UTC+8
• Rewards for CRETH2 supply/borrow on lending will end on December 28th 16:30 pm UTC+8

How to Use CRETH2 to earn high APY

Today, we have consolidated all the rewards/returns that Eth2 stakers can receive with their ETH while maintaining flexibility on their position of CRETH2.

Here are the Ways to Earn

1. ETH2 Beacon Chain validator rewards = 12.6%
2. Stake/Swap WETH to CRETH2 = 3.8%
3. CRETH2/WETH swap liquidity pool rewards = 17%
4. CRETH2 supply/borrow rewards = 14.22%/29.45%
5. CRETH2 supply on lending = 5.63%

1. ETH2 Beacon Chain Validator Staking Rewards

For starters, let’s talk about the rewards earned by all ETH holders who have staked their ETH to the Eth2 Beacon Chain.

Source: https://launchpad.ethereum.org/

• All Eth2 stakers receive the validator rewards for staking their ETH to the Eth2 Beacon Chain
• This currently yields a 13.7% APR
• As CRETH2 is a synthetic representation of ETH staked in the Beacon Chain, CRETH2 holders will be entitled to these rewards
• Redemption of CRETH2 for ETH on Ethereum 2.0 will not be available until Phase 2 begins, which by most estimates is about 2 years away. Follow this link for the eth2 roadmap.
• C.R.E.A.M. core team will manage the technical complexities of Eth2 staking in exchange for custodial fees equal to 8% of the staking rewards
• Yield to CRETH2 holders at current APRs will equal 12.6% net of fees

2. Stake/Swap your WETH for CRETH2

CRETH2 is live on the CREAM platform today and trading at a premium to ETH.

• To swap WETH for CRETH2, you can visit https://app.cream.finance/swap with any web3 enabled browser
• At today’s prices, 1 WETH is worth 1.0378 CRETH2 (~3.8% increase)

3. $CREAM Incentive for CRETH2/WETH Swap Pool

• Once you’ve swapped your WETH for CRETH2, you are ready to provide liquidity to the WETH/CRETH2 swap pool
• Visit the WETH/CRETH2 pool and click on “Add Liquidity” button highlighted in blue below

• You can choose to add single asset liquidity (either WETH or CRETH2) OR multi-asset liquidity by adding both assets

• Once you’ve added liquidity to the pool, your wallet will receive CRPT (the CRETH2/WETH LP token)
• You can then visit https://app.cream.finance/reward and select the 50% CRETH2 / 50% WETH option

Select the CRETH2/WETH pool for staking

• Then enable staking for the CRPT and stake

Once Enabled, the button will turn to “Stake” and you can click this to stake the LP tokens

Staking CRPT to the reward pool currently pays a~17% APY in $CREAM rewards and there is no lockup requirement. You can remove liquidity at any time!

You’ll Also Earn Swap Fees!

As a liquidity provider to the CRETH2/WETH swap pool, not only are you entitled to the $CREAM rewards described above, but you will also earn 0.25% of all CRETH2/WETH pool trading fees (this is not included in our +48% APY calculation)

Earn swap fees for providing liquidity to creamY swap

4. $CREAM Incentive for CRETH2 Supply/Borrow

• Users can now borrow and lend CRETH2
• Visit https://app.cream.finance/
• Click CRETH2, which will bring you to the pop-up window below

5. Supply Interest for CRETH2

As of this writing, the current APY for $CREAM rewards from supplying CRETH2 is 14.22%. In addition to the current 5.63% interest earned for supplying CRETH2, which accumulates by block to CRETH2 suppliers

You can also find C.R.E.A.M.’s staking service on:

https://beaconcha.in/stakingServices

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

Congratulations again on the Eth2 beacon chain launch and thank you for staking with C.R.E.A.M, we appreciate your trust and support!

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