Home Cryptocurrency Demystifying DeFi: What is CREAM & How Can You Make Money With It?

Demystifying DeFi: What is CREAM & How Can You Make Money With It?

by Serge Shlykov

So, the next time someone comes up to you and asks “What is DeFi?”. Hell, even I was confused by the term, which is why I decided to write a blog post about it.

CREAM (Cryptocurrency REbival on Mainnet) is a new generation of tokenized securities (or securities tokens, to use the more accurate phrase), and it is the first project of its kind to receive regulatory approval in the United States, making it the first of its kind in the US. How does CREAM work? CREAM adds an extra layer to standard securities tokens – it allows investors to hold a share of a company’s profits, without the risk of loss that comes with cryptocurrency.

To understand how CREAM works, it is important to understand how blockchain transactions work. These are essentially chunks of data that are encrypted and distributed over a network to verify the validity of the data. There are two types of blockchain for different purposes: decentralized and centralized. Decentralized blockchain, as the name implies, is a peer-to-peer network that uses cryptography to distribute data. The data is not stored on a centralized server, instead, a network of computers sends the data to each other.. Read more about cream finance and let us know what you think.

Decentralized Finance (DeFi) is a digital world filled with decentralized applications (DApps) that are bringing new and exciting innovations to the world. As of January 2021, FFi protocols will manage more than $25 billion in digital assets, and growth is expected to continue.

One of DeFi’s most popular types of products are income farming platforms, where users can buy a digital asset, bet on it (like a savings account) and receive rewards for their participation.

C.R.E.A.M. Finance

Paying homage to the famous Wu-Tang Clan song C.R.E.A.M (Cash Rules Everything Around Me), this DeFi record has chosen Crypto Rules Everything Around Me as its motto.

Your goal? Develop a comprehensive and robust financial system and eliminate the bureaucracy often associated with banks.

CREAM Finance is a decentralized lending and credit swap protocol and automated market maker where users can use their own cryptocurrencies as collateral for a loan or provide them to the platform as liquidity for lending or exchanging tokens, which can earn interest and rewards for users.

In addition, the platform also acts as a swap, similar to Uniswap, and as a payment and asset tokenization platform.

How does CREAM work?

CREAM Finance believes in financial inclusion, which means that wherever you are, there should be universal access to modern financial instruments, banking infrastructure, etc. The platform lives up to this belief by offering a completely free environment where no identity or credit checks are performed.

Instead, users only need a smartphone or computer and some understanding of how to send and store digital assets. CREAM Finance has two DApps that allow you to easily connect to the CREAM platform and transfer tokens to and from the platform.

The platform’s management token is of course called CREAM, and there will only be 9 million of them in circulation. On CREAM, users can borrow, lend and donate digital assets to cash pools that can earn interest/rewards from each other.

CREAM Finance supports the borrowing and lending of many digital assets, including Ether (ETH), DeFi tokens like Yearn Finance (YFI), 1ich (1INCH), and Uniswap (UNI), stablecoins like Tether (USDT), USD Coin (USDC), and Binance USD (BUSD), and nuanced tokens like Wrapped Bitcoin (WBTC).

Demystifying DeFi: What is CREAM & How Can You Make Money With It?

How to supply and earn chips

On CREAM, you can connect to MetaMask or WalleConnect, which can be installed as mobile applications/plugins for web browsers. In short, these DApps can connect to multiple platforms, wallets and protocols to deliver a satisfying user experience. In this example we will use MetaMask.

1) Once you are on the CREAM platform, click Connect and select MetaMask.

Demystifying DeFi: What is CREAM & How Can You Make Money With It?

(You will then be prompted to unlock, allowing you to connect your wallet to CREAM).

Demystifying DeFi: What is CREAM & How Can You Make Money With It?

2) Once logged in, select the digital asset you want to deliver in the Deliver Assets field. In this case we have chosen ETH.

Demystifying DeFi: What is CREAM & How Can You Make Money With It?

Here you can choose the amount of ETH you wish to wager. The only measure worth looking at is the annual provision rate, which determines your company’s interest rate.

Then click the Set button, MetaMask will ask you to confirm the action, and that’s it!

You have just learned how to earn interest with CREAM Finance.

Supply and demand

When a user provides an asset to the platform, they are actively providing liquidity to the token exchange and loan functions of the platform. Simply select the cryptocurrency you wish to deliver and you will receive its crToken as proof of the asset you delivered on CREAM Lending.

For example, if we enter ETH, we get crETH as a representation of the user’s interest-bearing assets to be lent.

Interest rates (APY) are based on supply and demand, and as you can see in the screenshot above, interest rates can vary widely.

A particularly interesting aspect of the offering and lending protocol is that users can immediately retrieve and place their crTokens in crTokens without leaving CREAM. This means that they can earn interest for lending the assets and receive trading commissions because they are the liquidity provider for the pool.

Cream spoon

DeFi platforms are booming as blockchain and digital asset technologies continue to evolve at an unusually fast pace. CREAM, like Uniswap or Compound, tries to bridge the gap between traditional and digital finance, and the team behind it seems to work almost weekly to release updates and upgrades.

CREAM plays an important role in the DeFi ecosystem, and with its integration into the Binance smart chain, CREAM will soon be used even more.

Further reading

Find out everything there is to know about DeFi, cryptocurrencies and blockchain technology and subscribe to Bitcoin Market Journal today!My goal is to demystify the world of cryptocurrency trading, with a particular focus on DeFi to crypto asset lending, a form of asset financing that has been on the rise in the last few years. In this post, I will outline some of the most popular DeFi — namely: P2P lending, inter-exchange lending, and institutional lending.. Read more about best defi coins and let us know what you think.

Frequently Asked Questions

How does cream work DeFi?

Cream is a method of funding for decentralized applications (dApps) that works by using a smart contract to collect a small fee from the user who is sending a transaction. The fee is then split between the developers of the dApp and the person who sent the transaction. Cream is a way for users to fund the development of decentralized applications without the need to send a transaction to a centralized application. If you want to learn more about how cream works, you can

How do you farm cream DeFi?

Cream DeFi is a term that describes the process of converting a decentralized application into a centralized application. How do you farm DeFi? DeFi is a term that describes the process of converting a decentralized application into a centralized application.

What is cream protocol?

Cream protocol is a protocol that is used to treat a variety of skin conditions, including eczema, psoriasis, and atopic dermatitis. Creams are applied to the skin and left in place for a few hours or overnight. Creams are usually applied twice daily.

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