Recently, Cream Finance, Decentralized finance (DeFi) lending platform announced its upcoming integration with the Ethereum layer 2 scaling solution Polygon.
C.R.E.A.M. Finance is a decentralized lending protocol for individuals and protocols to access financial services. Presently, C.R.E.A.M. is live on Ethereum, Binance Smart Chain, and Fantom.
Cream team said that the integration with Polygon, which has $8.64 billion in RVL, will result in faster transaction speeds, lower gas fees, and access to additional markets for its users.
Source: Cream Finance
Cream Finance team said that its smart contract money markets are focused on longtail assets with the aim of increasing capital efficiency for all assets in crypto markets. Consumers gets the ability to lend any supported assets on cream markets, and use the provided capital as collateral to borrow another supported asset.
Cream team also announced that it is now the most used DeFi protocol for the DPI Index Token. About 5% of all $DPI is deposited into $CREAM and 1% is borrowing stables. At launch, users will be able to supply and borrow tokens on USDC, USDT, DAI, WBTC, LINK, WMATIC, WETH, SUSHI, CRV, and QUICK.
According to the announcement Cream Polygon markets will be incentivized with liquidity mining, and all assets on Cream Polygon will be covered by Chainlink oracles. The range for collateral factors will be from 45% to 85%.
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