Yearn and Cream Team Up for Leveraged Lending and Yield
Yearn and Cream team up for better defi.

Yearn and Cream Team Up for Leveraged Lending and Yield

By AlucardLife | cryptoinvesting | 27 Nov 2020


On the heels of Pickle merging with Yearn comes the excellent news of the Cream team collaborating with Yearn.finance to create CreamV2. According to a post by Andre Cronje on the Yearn governance website, CreamV2 will allow yield earning with leverage. It will also serve as a hub for future products.

Cream was up 40% on the news. YFI is still down, but this actually made me want to open a position in it. It shows that YFI is an ongoing project that can evolve and is weaving itself into the fabric of many useful protocols. Interesting. Yearn recently announced a collaboration with Pickle.finance as well. Many people think that the crypto market will eventually consolidate into BTC and ETH and nothing else, but I'm not so sure now. Cronje is really working hard.

In related news, Cream decided to remove the Swag token from its collateral pool, patching up a potential rugpull backdoor. Read more about what that rugpull backdoor was in this detailed Cream assessment. Overall, the news speaks well to the future of Cream and is certainly welcome news as I try to navigate this Brian Armstrong full market dump. This is certainly better than that shit marketing scheme they did with Method Man. That almost made me quit the dapp.

I do have slight concerns about the technical risk of this project, however. Cream devs are basically forkers, and Cronje's Eminence project was hacked because he likes to "test in prod." So I'll be moving slowly into this one and checking as deeply as I can for bugs, etc. before making a full leap. It would probably be wise to stay away from stablecoins in bank dapps, especially DAI. Hackers have been flash loan attacking stablecoins quite successfully lately, but that's not a code hack. It's an arbitrage. So we'll see. Hopefully those guys will note that whatever causes the stables to lose their peg and open themselves to arbitrage is the weak point.

More news here as more news comes. This is something to watch, though.


AlucardLife
AlucardLife

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