C.R.E.A.M. Finance x Yearn Finance Partnership – Launching the Iron Bank On Fantom
C.R.E.A.M. and Yearn will work as partners to build multi-chain strategies, and will move as a unit to new chains.
In November 2020, C.R.E.A.M. Finance deepened its relationship with Yearn Finance to collaboratively build the Iron Bank.
The Iron Bank is a more flexible version of C.R.E.A.M. v1, allowing peer-to-pool lending for users, as well as whitelisted borrow agreements for protocols.
What happens next and how does this impact the C.R.E.A.M. Community?
In order to jump start Iron Bank liquidity, CreamFinance have updated the C.R.E.A.M. Fantom market to Iron Bank Fantom. No action is required for users who have outstanding supply or borrow balances on Fantom C.R.E.A.M. markets.
The frontend will be moved from app.cream.finance to yearn.fi (and https://beta.yearn.finance/#/ironbank, which will be moved to yearn.finance soon). However, this won’t happen immediately. C.R.E.A.M. will leave the Fantom markets displayed on app.cream.finance for an interim period, but over time this site (on Fantom) will be deprecated and direct all traffic to Yearn’s frontend.
For $CREAM token holders this means growth of the C.R.E.A.M. money market ecosystem, and thus increased borrowing volume and protocol fees. $iceCREAM holders will continue to earn 50% of ALL protocol fees, inclusive of v1 and Iron Bank markets, for their participation in the network.
For the Builders, this upgrade allows the Iron Bank to provide loan agreements to protocols on Fantom, and new chains in the future. This will enable developers to build new products, as well as some of the same features and partnerships as Iron Bank on Ethereum — such as Yearn Vault integrations and Alpha Homora v2 strategies.
C.R.E.A.M. Finance
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.
Yearn Finance
Yearn Finance is a suite of products in Decentralized Finance (DeFi) that is designed to generate yield on smart contract platforms like Ethereum. The protocol is maintained by various independent developers and is governed by YFI holders.
