Lending Risks - Cream Finance Again...

By Bfab | Good vibes | 24 Aug 2022

If you want to earn a good APY on your coins, e.g., Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT) or Tezos (XTZ), you will be interested in Cream Finance on the Binance Chain which currently offers some crazy APYs.

However, there is a reason for that. One user could recently borrow a huge amount of money in BNB without using collateral.

You will find more information on this issue by clicking on the link below. This happens less than one year after the big hack of Cream Finance which resulted in a $130 million loss.

I have nothing against Cream Finance in particular. I would simply recommend to be cautious about lending. CeFi platforms are risky (Celsius...) but DeFi protocols are risky too. Remember you can also make money with staking, which is more secure but usually less profitable than lending. However, a higher profitability usually comes with higher risks. There is no easy money.

Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.

Please find below a few links to earn a few coins...