v3 Beta Liquidity Mining, Multisig Finalized

We are excited today to announce our v3 Beta Liquidity Mining program, along with finalizing the multisig wallet transfers to further cede control to community leaders.

v3 Beta Liquidity Mining — Change Highlights

Rewards Increased for:

• CREAM supplied/borrowed (Pool 1.5a) — 7,500 for the next 7 days, up from 5,000.
• Liquidity providers in Balancer (Pool 2a) — 7,000 for the next 7 days, up from 6,000.
• Liquidity providers in Uniswap (Pool 2b) — 8,000 for the next 7 days, up from 7,000.

Other Changes:

• LEND bonus pool ended with the final daily distribution today, August 24th.
• YFI bonus pool is ending tomorrow with the final daily distribution on August 25th.
• CRV bonus pool is ending August 26th.
• renBTC bonus pool is ending on August 29th.
• Welcome BUSD token holders onto CREAM! 1,500 will be given out over 7 days, starting tomorrow, August 25th.

More info on our program can be found on Yieldfarming.info and Yieldfarmingtools.com.

Multisig Transfer Complete

Last week we announced our plans to move 92.5% of CREAM tokens along with admin control of the crToken contracts into a multisig wallet controlled by community leaders here. We are proud to announce today that this transfer is complete (and blog post updated with details). We want to thank the following community leaders who agreed to safeguard the C.R.E.A.M. Finance keys:

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

Fast Liquidity Mining Incentive Iteration

We will continue to test out different permutations of the liquidity mining pools to ensure that we are providing the right incentive that would best benefit the CREAM platform and drive network value. However, we have decided against having breaks between programs, and instead will iterate quickly to rebalance incentives to achieve the desired outcomes. We have now released 111,857.13 CREAM tokens into circulation through our liquidity mining program, out of the short-term allocation of 400,000 CREAM for these beta experiments. All circulating token supply have come from liquidity mining.

CREAM Token Info

CREAM can be found on Coingecko and Coinmarketcap.

CREAM Token from our team has the following address — https://etherscan.io/address/0x2ba592f78db6436527729929aaf6c908497cb200

Please use the above address when looking for our tokens across DEXs and AMMs as there may be imposter tokens out there looking to jack you. Don’t let them.

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.

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