Cream Finance to launch money market service on Polygon blockchain

Cream Finance to launch money market service on Polygon blockchain
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Nigeria (CoinChapter.com) — C.R.E.A.M Finance is officially coming to Polygon. According to a post on Medium, C.R.E.A.M Finance has finally launched their money markets on Polygon. The decentralized lending platform takes another step towards bringing capital efficiency to long-tail assets on multiple blockchains.

The launch on Polygon will allow users to supply and borrow tokens on various markets. These markets include USDT, USDC, DAI, WMATIC, WETH, WBTC, LINK, SUSHI, CRV, and QUICK.

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Collateral factors will range from 45% to 85%, according to the post, and Chainlink oracles will cover all assets.

C.R.E.A.M Finance and Polygon

Polygon is a platform on the Ethereum network used for scaling and infrastructure development. The Polygon SDK is a modular and flexible framework that supports building and connecting secure chains. There has been widespread adoption of Polygon, with over 400 Dapps, approximately 350 million transactions, and about 1.5 million unique users.

C.R.E.A.M Finance is a decentralized lending protocol that enables individuals, financial institutions, and other protocols to access financial services. It is a permissionless, open-source, and blockchain-agnostic asset.

C.R.E.A.M Finance is part of the Yearn Finance ecosystem. Yearn Finance consists of a suite of products in decentralized finance (DeFi). It provides lending aggregation, yield generation, and insurance using the Ethereum blockchain.

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The integration of C.R.E.A.M with Polygon means transactions will be faster, gas fees will be lower, and it opens up access to different markets for its users.

A World Of Possibilities

Polygon currently boasts of a thriving DeFi ecosystem with $8.64 billion in total locked value (TVL).

With such a large market share, it opens C.R.E.A.M Finance users to more possibilities. Access to more coins and liquidity being a big part of this.

C.R.E.A.M Polygon markets will be incentivized by liquidity mining.

Details are not yet available on this. But C.R.E.A.M has said it will release them soon.

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C.R.E.A.M Finance’s money markets focus on long-tailed assets. They increase capital efficiency in crypto markets. 

C.R.E.A.M Finance, Cream Finance to launch money market service on Polygon blockchain
C.R.E.A.M price maintains steady upward momentum. Source: CREAMUSD on TradingView.com

With C.R.E.A.M Finance, users can lend supported assets on their markets. And users can then use this capital as collateral to borrow other supported assets on C.R.E.A.M Finance.

C.R.E.A.M Finance is currently live on the Ethereum, Binance Smart Chain, and Fantom blockchains. C.R.E.A.M offers a wide range of tokens. It offers stablecoins, interest-bearing stablecoins, DeFi tokens, LP-tokens, and a host of others.

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