C.R.E.A.M. Finance Expands To Polkadot Via Moonbeam

Integration Will Boost the DeFi Ecosystem by Bringing Lending and Borrowing Protocol to Moonriver on Kusama, Then Moonbeam on Polkadot

C.R.E.A.M. Finance will be extending their lending and borrowing suite to the Moonbeam ecosystem, starting with Moonriver, the network’s sister parachain on Kusama. This integration joins the growing ecosystem of DeFi projects building on Moonbeam, offering a full suite of lending and borrowing services to the Polkadot community.

C.R.E.A.M. Finance is one of the most successful decentralized lending and borrowing protocols, with more than $1 billion USD in total value locked (TVL) on its platform. As the first lending and borrowing platform on Moonriver, C.R.E.A.M. Finance will help jumpstart the growth of the DeFi ecosystem on Moonriver by providing users with a diverse set of options for making their assets productive. C.R.E.A.M. Finance joins SushiSwap on Moonbeam as a powerful new source of liquidity and yield on Polkadot.

Moonbeam is a smart contract parachain on Polkadot with a focus on maximizing Ethereum compatibility. For DeFi enthusiasts, this means they can hold Moonbeam and Moonriver tokens using existing Ethereum addresses in their MetaMask wallet and use other familiar tools and DApps. However, by being in a Polkadot-native environment, users will also be able to access assets from other parachains using the native cross-chain networking that is built into Polkadot.

C.R.E.A.M. Finance enables lending and borrowing solutions to increase capital efficiency for cryptocurrency assets. The integration with Moonbeam and Moonriver means the Polkadot and Kusama communities will be able to more efficiently utilise their assets; deposit as collateral to borrow or lend them to the platform. Users who lend can earn interest revenue, similar to a traditional savings account and those same users can further borrow against their deposits to advance their own goals in a way that is more tax efficient.

About Moonbeam Network

Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Currently in active development by PureStake, Moonbeam is expected to reach MainNet by Q4 2021.

About C.R.E.A.M.

C.R.E.A.M. Finance is a decentralized lending protocol for individual and institutional access to financial services. It is a permissionless and blockchain agnostic protocol existing on Ethereum, Binance Smart Chain, and Fantom. Crypto Rules Everything Around Me, C.R.E.A.M.

➡️Source:
https://moonbeam.network/announcements/c-r-e-a-m-finance-expands-to-polkadot-via-moonbeam/