I keep a close eye on Cream.finance because I'm currently using it as the centerpiece of my altcoin strategy. You can read the articles linked below to see my history on that.
I found a couple of dings that you may want to understand if you want to use the project. Cream seems to be pushing forward valiantly, but I can't say the coast is clear on the project until it's clear.
1. You can't always remove your assets from the protocol. Depending on the amount of a certain coin that Cream's liquidity pools have on hand, you may or may not be able to withdraw the full amount of what you put in.
2. The big APYs you see usually come when the asset pool in the protocol is low. You may see some crazy degen looking APYs on Cream that will attract you to the platform. I currently have a 167.51% APY on one of my assets, but I can't take the asset out. I look over at the asset pool, and there's only $1500 of that asset in Cream, which is less value than what I have deposited there.
3. The APY may not register at all. So if Cream advertises a 176.51% APY, I want to be sure I'm getting it. So far, the number hasn't moved (you can check it at the bottom of the screen when you click on the "Withdraw" tab. I will update this post tomorrow. But I should be getting 0.5% per day, which you'd think would move the number rather quickly.
4. Sometimes you can't borrow against assets. I attempted to put Keep3r in Cream a while ago. Spent $50 putting that shit in and pulling it out after I realized that I couldn't borrow against it. Cream was also offering a 0.0% interest rate on Keep3r at the time, so I was ONLY putting it in to borrow against. Big waste of time.
Consider these things when you are looking at Cream. It's not a perfect solution. My solution is to never fully pay back any loan so that if the protocol goes bust, I don't lose 100% of my holdings there.
