C.R.E.A.M. Finance and Yearn Finance Launch Iron Bank on Fantom
C.R.E.A.M. and Yearn Finance will now collaborate to develop multi-chain solutions and transition to new networks as a group. C.R.E.A.M. and Yearn extended their partnership in November 2020 to work together and establish the Iron Bank.
The Iron Bank is a more versatile version of C.R.E.A.M. v1. It will allow lending in the peer to pool mode and protocols to whitelist borrowing contracts.
C.R.E.A.M. Finance has upgraded the market of C.R.E.A.M. Fantom to Iron Bank Fantom to kick-off the liquidity of Iron Bank. Users with unpaid supply or borrowed balances on Fantom C.R.E.A.M. marketplaces do not need to take any action.
The front end of C.R.E.A.M. Fantom will now be transferred from app.cream.finance to yearn.fi for individual customers of C.R.E.A.M. Fantom. However, this will not take place right away. For the time being, C.R.E.A.M. Finance will continue to show Fantom markets on the website – app. cream.finance. However this website will be discontinued, and all visitors of the site will be sent to Yearn’s interface.
C.R.E.A.M. token holders who wagered for $iceCREAM will keep receiving a fraction of the protocol service charges throughout all chains where the IronBank is active.
This update enables the Iron Bank to issue agreements of loan to Fantom Protocols, and some new chains in the near future for the Builders. Developers will be competent to develop new products and take advantage of many of the same functionalities and collaborations that Iron Bank on Ether offers, such as Alpha Homora v2 strategies, Yearn Vault integrations, etc.
Iron Bank is the ecosystem of Yearn’s formal lending arm. The C.R.E.A.M. Finance and Yearn Finance groups are collaborating to improve cryptocurrency ‘corporate structures’ by harmonizing incentives and collaborating on mutual purpose.
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