Proposal: Add C.R.E.A.M. Finance (CREAM) into yVault to create yCREAM Delegated Vault. (Rematch)

Proposals Vaults
1

Summary:

Propose to add C.R.E.A.M. Finance (CREAM) into yVault to create CREAM Vault (Rematch).

Background:

C.R.E.A.M. Finance has quickly become a useful lego piece to DeFi, providing additional liquidity, leverage options, and yield for DeFi-relevant tokens such as YFI, yCRV, yyCRV, yETH, CRV, LEND, LINK, COMP, BAL, renBTC, USDC, USDT, ETH, BUSD, MTA, SUSHI, FTT with more coming up on the roadmap. Many of these tokens have become yieldfarming seed tokens, with potential for yield.

Since the last, contentious vote, the liquidity crunch issue has been solved with an incentive adjustment. As of the time of this post, there is $3.08M worth of $CREAM tokens available for users to borrow and withdraw. Additionally, C.R.E.A.M. has since added yyCRV ($19.21M TVL) and yETH ($21.07M TVL) markets, providing additional liquidity for the yearn community. As of the time of this post, C.R.E.A.M. is a staunch supporter of the yearn.finance community and actively serves the needs of this community. Finally, $CREAM collateral factor has increased from the time of the last proposal, enabling additional strategies to generate yield.

Possible Strategies - CREAM Vault would accept CREAM deposits and use this liquidity in a few ways, including using CREAM as collateral to directly farm other tokens (similar to SHRIMP), or for borrowing seed tokens to farm other tokens (SUSHI, YFV, FARM). Any yield earned above the debt is sold for CREAM and returned to the vault, increasing yield in CREAM.

CREAM has become a part of the YFI ecosystem through the StrategyCreamYFI v1 VAULT strategy. Through CREAM Vault, this would create sustainable yield for both YFI and CREAM.

Standard fees apply (0.5% withdrawal and 5% performance)

For: Add CREAM to yVault to create CREAM Vault, ensuring sustainable yield for both YFI and CREAM.

Against: Don’t add CREAM Vault.

Poll:

6 Likes
2

YES from me, this needs to happen

1 Like
3

how many times are we gonna try this? lol

4

I will vote yes if do not include a strat with the vault. They need to be separate.

5

I’m a YES on this one.

I think it’s super interesting and useful that CREAM deals in yCRV, yyCRV and yETH directly. This is significant; CREAM is definitely into what $YFi is up to and building new lego bricks ‘in reverse’, not just providing underlying piping for YFi to build on top of.

I’d encourage us to get behind what they’re up to – the lego brick feedback loops could get very interesting.

1 Like
6

Totally against.

Why this proposal should have a rematch?

There are many things going on that need attention now.

3 Likes
7

I shared my views earlier and will re-iterate again. As a super new deposit and loans project, Cream needs to exhibit more active liquidity management. If you look at the other coin supplies such as BAL COMP LEND and LINK, some of those key coins are reflecting less than a million of USD value available for supply redemptions (BAL and COMP have less than 100k usd each). Clearly there is still no active liquidity management in place. Some of the following low hanging fruits to manage liquidity can be considered for implementation:

  1. Provide ability for users to net supply and borrowing - this makes sense for folders unwinding amid high gas fees environment and will no longer impact intra unfolding activities when they do so.

  2. do a study of core-volatile volumes of each supplied coin deposit separately and ensure pricing reacts immediately to acquire back supplies when it dips under this volatile volume trigger. Do not wait for a liquidity crunch to then roll out your incentive program. maintaining such reserves will of course come with carrying cost - that’s part and parcel of the S&L biz so you pass it on through the spread equally shared by both lending and borrowing rates spreads.

Time is money which i do not have much of at the moment to share more. My yfi holdings is modest but i like this community and will share my voice and thoughts for consideration. I dont want yfi or andre to keep looking at cream sc balances to see when liquidity comes back in to snipe back for redemption bit by bit like so many of us did. Cream should consider engaging a treasury person to help manage cashflows better. Be better than compound - be a bank, and i will be the 1st to vote yes. Not now unfortunately. ok back to degen farming for me.

4 Likes
8

Yes from me. Pretty straightforward with this being the most active dev team I’ve seen in crypto. Long-term mindset with unique fund/distribution locking using a 3rd party really shows that it isn’t a wasted effort upon addition.

1 Like
9

I would say Yes… any kind of usage YFI. will be good for everybody

1 Like
10

@spacemonkey said

Totally against.
Why this proposal should have a rematch?
There are many things going on that need attention now.

Completely agree with this. In fact, given how many different things the community has to focus on currently, shouldn’t there be some sort of a bigger buffer in between reevaluation of previous proposals? This proposal was rejected not even a week ago.

1 Like
11

I unfortunately have to lock this thread cause it shows up 5 days after similar (same?) poll on CREAM was concluded, see Proposal: Add CREAM to yVault to create yCREAM Delegated Vault.

@MachiBigBrother please, refrain from opening same thread, again. If you think that current proposal is more valuable (different) than previous one send me a message and we can discuss why it should be reopened.

2 Likes