Read the original proposal on Discourse

TL;DR

• Proposal to whitelist CREAM.
• Proposed co-investment is 200K BNT.
• There are no apparent security concerns that would prohibit whitelist status.
• CREAM is a well established DeFi lending platform .

Token Address: 0x2ba592f78db6436527729929aaf6c908497cb200 1

Project Website: cream.finance 1

Token Security

CREAM does not have an elastic supply or rebase mechanism. The CREAM project received technical and security guidance at launch from Compound Finance. The token contract is a fork of the Compound.finance comp token that has been audited by OpenZeppelin and Trail of Bits.

Cream has a 9,000,000 fixed supply of which 703,756 are circulating.

The contracts and addresses with the highest concentration of CREAM tokens are held by the CREAM team (rank 3) and a Multisig Wallet 1 (rank 2). The Gnosis Multisig Wallet also controls most of the smart contracts on CREAM. A large number of CREAM tokens were burned (rank 1) after discussions within the CREAM community. The tokens that were burned had been set aside for governance or for seed investors.

The other major holders of CREAM tokens are those which are locked in the CREAM platform for staking purposes (rank 4, 6, 7, 1) or are being supplied to CREAM to use as collateral for lending/borrowing (rank 5, 9, 10).

Project

C.R.E.A.M. Finance is a decentralized lending protocol for individuals and protocols to access financial services. The protocol is permissionless, transparent, and non-custodial.

Currently, C.R.E.A.M. is live on Ethereum, Binance Smart Chain, and Fantom.

C.R.E.A.M. Finance’s smart contract money markets are focused on longtail assets – with the goal of increasing capital efficiency for all assets in crypto markets.

Users are able to lend any supported assets on our markets, and use the provided capital as collateral to borrow another supported asset.

C.R.E.A.M. offers a wide range of tokens on our money markets, including: stablecoins (USDT, USDC, BUSD); interest-bearing stablecoins (yCRV, yyCRV); defi tokens (YFI, SUSHI, CREAM, CREAM); LP-tokens (USDC-ETH SLP, WBTC-ETH SLP); and other cryptocurrencies (ETH, LINK). This list is not exhaustive.

Tokenomics

Cream.finance started with no CREAM premine. The breakdown 1 of the original 9,000,000 CREAM tokens was as follows:

10%, 900,000 — Team*, vesting over 2 years, 6 month cliff.
10%, 900,000 — Seed, vesting over 2 years, 6 month cliff.
20%, 1,800,000 — Liquidity Provider Incentive
60%, 5,400,000 — Governance Allocation

*25% of the team allocation, 225,000 CREAM, was allocated to their technical and security advisor Compound Finance.

The CREAM token provides holders with the ability to participate in governance. Additionally, the C.R.E.A.M platform also offers holders the ability to stake CREAM for a fixed period of time (1 year, 2 year, 3 year, or 4 years) in return for earning more CREAM at then end of their lock.

Community and Communication

The CREAM team operates an official Twitter and Medium account. The repositories for their code is hosted on GitHub. There is a governance Forum, Telegram, and Discord that’s also available to their community. The official documentation is hosted on GitBook.

The C.R.E.A.M team is non anonymous and most of them have public profiles:

Co-Founder: Leo Cheng (Twitter )
Tech Lead: Jeremy Yang (Twitter)

Developer:
Bun Hsu (Twitter)
Stanley Ding (Twitter)
Sonic Jhan (Twitter)

Product Manager:
Eason Wu (Twitter 1)

A full list of team members is located in their docs.

Available Audits

Trail of Bits completed an Audit of C.R.E.A.M. v1, v2, and Iron Bank. Report is available on GitHub.

Market and Trading Data

• CREAM price at the time of writing is $115.62
• All-time high: $374.75 (Feb 04, 2021)
• All-time low: $9.36 (Aug 07, 2020)
• Price 90 days ago: $114.02
• 703,756 tokens in circulation
• 2,924,547 maximum supply.
• The current market capitalization is $85,496,455
• Token Fully Diluted market Capitalization is around $338,142,402
• The CREAM token is available on Binance.
• The highest 24-hour spot volume on CEX is on Binance around $1.7M and on DEX $900K on Sushiswap.