Cream

CREAM Price

What is CREAM?

CREAM is a decentralized lending protocol and decentralized exchange (known as Cream Swap) that resides on both the Ethereum chain and Binance Smart Chain (BSC). 

As of February 2021, users can lend and borrow over 40 cryptocurrencies on CREAM.

Lenders can earn interest by providing liquidity to the protocol, while borrowers can borrow by collateralizing their cryptoassets to take out loans from the liquidity pools.

The protocol has a native token, CREAM, which also acts as a governance token. Governance allows the community to decide on the protocol’s direction, such as deciding on new cryptoassets to be listed on CREAM, the reserve ratio, the collateral factor, and many more.

Fun fact: CREAM stands for Crypto Rules Everything Around Me.

A brief history of CREAM

CREAM was founded in July 2020 and led by Jeffrey Huang, who is also the founder of Mithril.

CREAM has two core products: 

1. Decentralized lending protocol - known as CREAM and forked from Compound
2. Decentralized exchange protocol - known as CREAM Swap and forked from Balancer

Towards the end of November 2020, Yearn.Finance (YFI) had a Merger & Acquisition spree (they had five mergers in total in one week), and CREAM was one of them. YFI’s Merger & Acquisition has formed a YFI ecosystem.

On 14 January 2021, the CREAM team announced that they plan to launch a zero-collateralized lending service called Iron Bank. With Iron Bank, borrowers will no longer need to deposit any collateral when borrowing on CREAM. You can read more about it here.

How does CREAM work?

To understand how CREAM works, we will segment it into three key products: 

1. The lending protocol
2. The decentralized exchange
3. CREAM token

What is the CREAM lending protocol?

On CREAM, you can lend and borrow across 40 supported cryptocurrencies such as Sushi (SUSHI), Uniswap (UNI), and wNXM (WNXM). As a lender, you can earn interest by providing liquidity in the protocol. 

Upon supplying the liquidity, you will receive crTokens that represent the respective underlying asset, and these tokens will take into account the interest accrued over time.

As a borrower, you will have to provide collateral before you can take out a loan and the amount you can take out is dependent on the collateral factor. 

To know more about how you can lend or borrow assets on CREAM, kindly refer to their blog post.

What is CREAM Swap?

Cream Swap is a decentralized exchange that utilizes an Automated Market Maker (AMM) model, where users can quickly swap from one token to another.

Currently, the exchange fee is 0.25%, which is lower than Uniswap and Sushiswap fees of 0.3%. Unfortunately, the number of assets available for swaps on CREAM Swap is limited.

Users can also provide liquidity to the pools on CREAM Swap, though it is unclear how much liquidity providers will earn from the 0.25% exchange fee. 

What is the utility of CREAM token?

CREAM is the governance token of the CREAM protocol. Token holders can vote on Snapshot and influence the protocol’s direction, such as the collateral ratio of the supported asset or new assets to be listed.

One thing to note is there are no rewards for token holders when they vote.

If you are keen to table a proposal, you can refer to a step-by-step guide by the team here.

For more information on CREAM, do refer to this interview with Leo Cheng, co-founder of CREAM.

Where can you buy Cream?

CREAM tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Cream is Uniswap V2 (Ethereum), where the most active trading pair CREAM/WETH has a trading volume of $67.97 in the last 24 hours.

What is the daily trading volume of Cream (CREAM)?

The trading volume of Cream (CREAM) is $292.16 in the last 24 hours, representing a 2,690.30% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Cream (CREAM)?

Cream (CREAM) reached an all-time high of $374.10 and an all-time low of $0.3978. It’s now trading -99.90% below that peak and 19.30% above its lowest price.

What is the market cap of Cream (CREAM)?

Market capitalization of Cream (CREAM) is $1,344,578 and is ranked #2759 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of CREAM tokens (2.8 Million tokens are tradable on the market today).

What is the fully diluted valuation of Cream (CREAM)?

The fully diluted valuation (FDV) of Cream (CREAM) is $1,388,629. This is a statistical representation of the maximum market cap, assuming the maximum number of 9 Million CREAM tokens are in circulation today. Depending on how the emission schedule of CREAM tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Cream compare against its peers?

With a price increase of 4.20% in the last 7 days, Cream (CREAM) is outperforming the global cryptocurrency market which is down -0.30%, while outperforming when compared to similar Exchange-based Tokens cryptocurrencies which are up 0.50%.

How to add Cream (CREAM) to MetaMask?

Adding Cream (CREAM) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import CREAM as a token. You can copy CREAM’s contract address (0x2ba592f78db6436527729929aaf6c908497cb200) and import it manually, or if you've installed MetaMask's chrome extension, add CREAM to MetaMask with one click on CoinGecko.

Add CREAM to MetaMask.