What is Cream Finance?

Sep 13, 2022
3 min read

This blog post will cover:

  • What is Cream Finance?
  • Where did Cream Finance come from?
  • What are the advantages of Cream Finance?
  • What are the disadvantages of Cream Finance?
  • How to buy Cream Finance on SimpleSwap?

What is Cream Finance?

CREAM is a cryptocurrency of the C.R.E.A.M. Finance project designed to simplify financial services. The platform ensures its users full anonymity, transparency, and safety. It has been implemented on Ethereum, Binance, and Fantom blockchains.
The main global purpose behind the C.R.E.A.M. Finance’s project is to increase the efficiency of the whole crypto market. The platform provides the opportunity to lend and borrow crypto assets as collateral. It provides liquidity to the DeFi assets as well via the usage of AMM. Platform charges fees for that. In turn, for each operation on the platform users gain liquidity mining rewards in CREAM tokens. CREAM token owners who are staking them can also get the profit.

Where did Cream Finance come from?

The CEO of C.R.E.A.M. Finance is Taiwanese entrepreneur Jeffrey Huang. He has already had experience in the crypto industry, as a developer too. He is the founder of Mithril (MITH) crypto. Besides, he is an author of a huge amount of informative articles on Medium.
C.R.E.A.M. Finance was launched in 2020. Prior to its launch, a great ad campaign took place. It was said that the project was collecting all the best features of similar protocols on the market, it was expected that the C.R.E.A.M. Finance would expand the possibilities of the crypto market and bring it to the next level. So, due to that, C.R.E.A.M. had a bright beginning.

What are the advantages of Cream Finance?

  • Multi-tool
    There are a lot of lending services and tools for comfortable work and interaction with the platform.
  • Staking
    The C.R.E.A.M. Finance enables users to have an income by obtaining staking rewards.

What are the disadvantages of Cream Finance?

  • Too long to wait
    Users gain rewards for staking CREAM tokens in their wallets, yet the max benefit can be taken in 4 years of staking.
  • Unclear token distribution
    The CREAM tokens are distributed this way: 60% are reserved for the governance on the platform, 20% are allocated to the core team, 10% are set aside for Compound Finance, and 10% belong to seed investors. Thus, the majority of the tokens are allocated for governance, yet the exact amount of the tokens for liquidity pools, for borrowers, lenders etc. is not specified. This makes it hard to understand which amount of tokens is available in every area.

How to buy Cream Finance on SimpleSwap?

If you want to easily purchase CREAM tokens you can do it on SimpleSwap, just follow a few steps:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select CREAM in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. CREAM will be sent to this address. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

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