i am referring to people who supplied cream to cream.finance, not borrowers of cream - who cannot access back their deposit supplied due to inadequate liquidity available there to repay them. effectively a run-on-bank. you say there is ample liquidity elsewhere. then cream.finance should source it from balancer or uniswap to repay these depositors or dip into their treasury reserves to fulfill withdrawals. anything short is a run-on-bank situation.
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https://twitter.com/machibigbrother/status/1298850711594127360?s=21
Our new interest rate model.
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50m YFI moved out of Cream now sitting back in Vault. Where to? Back to Cream soon?
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This insufficient CREAM supply is definitely an issue but it seems very far from a situation to cause a run-on-bank by lack of confidence. On a run-on-bank situation you would expect to see all liquidity pools quickly drying up but this is not currently the case. IMHO, it seems more a balancing of incentives that needs to be corrected, and it is being done, than a general lack of confidence situation threat.
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Andre doesn’t want a cream vault for now voting against. Maybe later guys.
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He was against the other proposal not this one.
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Correct - Andre was against the farming of CREAM with the additional token vaults. CREAM I think is a legitimate case and has again helped out YFI with the yVault.
I understand Andre is against the strategy for the others as it doesn’t fit the same risk profile, but a CREAM vault for CREAM only would be a small token to the CREAM community that has helped us.
TED
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I’ve been watching CREAM for awhile now.
I’m staying away for the time being … voting against. Just a feeling – open to having my mind changed but for now, I’m not seeing something that looks solid.
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everything is interconnected. folks supply one coin to borrow another. when there is gridlock in 1 coin and in this case the native coin where cream.finance cannot even display ability to manage its own flows adequately, it can and will affect supply leg of other coins lent if gridlock persist. confidence is the name of the game here. This is already day 3. You can raise rates high but if confidence is broken, you may not regain liquidity back.
The voting has concluded. It was decided against this proposal.
- For - 826.21 YFI - 46.09%
- Against - 966.57 YFI - 53.91%
Run it back. Rematch.
Closed since inactive. Feel free to reopen if this topic is still relevant.