Cream Finance Announces AMM, creamY, with Several Innovations that ‘Make it Stand Out'

Amidst the growing competition in the AMM space, Cream Finance is coming up with something that YFI’s Andre Cronje says “can alleviate a lot of the current liquidity pain-points.”

Cream Finance has introduced an automated market maker (AMM) which focuses on low slippage and fees of stablecoins.

Combining Curve’s very low cost and very high-efficiency feature and Balancer’s updatable for addition or removal of an asset from the pool — unlike Uniswap or Curve pool, which are immutable — creamY has created a “dynamically updateable AMM which consolidates liquidity.”

Besides being dynamic and capital-efficient, this AMM allows users to hold or transact with yielding and provide liquidity using one token.

According to yEarn Finance’s Andre Cronje, who partook in the discussion of the project, the design of creamY. it “can alleviate a lot of the current liquidity pain-points.”

Coming up with innovations such as consolidated liquidity, a mixture of a shared order book, a governed liquidity pool, and allowing single-sided liquidity is what makes it “stand out,” said Cronje.

Right from the launch, It will support exchanges for stablecoins, BTC, and ETH.

It will be supporting cryUSD including USDT, USDC, TUSD, BUSD, yCRV, yyCRV, yUSDT, yUSDC, yTUSD, cUSDT, cUSDC, crUSDT, crUSDC, and crBUSD; cryBTC covering wBTC/renBTC/tBTC/crRENBTC/cWBTC/ycrvRenWSBTC, and cryETH inclusive of WETH/yETH/crETH/cETH.

Although the code of the protocol has been reviewed by several developers and is currently in the final stages of it, like all the DeFi projects, it hasn't been through production testing yet.

According to the official announcement, creamY will launch with “strong incentive rewards” in CREAM tokens form, which will be escrowed until the end of the LP period.

For now, the CREAM token of the lending protocol with a TVL of $241 million, is trading at $118, up 2.63% since Sunday in line with the broad market.

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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