Decentralized finance (Defi) lending platform Cream Finance will be launching its money market on Ethereum layer 2 scaling solution Polygon network.
In an announcement, Cream said polygon has a thriving DeFi ecosystem with $8.64b Total Value Locked (TVL). The Integration with Polygon means faster transactions, lower gas fees, and access to different markets for its users.
The blog post added that at launch, users would be able to supply and borrow tokens. It includes USDC, USDT, DAI, WAMTIC, WETH, WBTC, LINK, SUSHI, CRV, and QUICK. Though launching time is not yet specified.
Cream finance smart contract money market allows users to borrow and lend supported assets. All Cream’s assets on polygon will be covered by Chain-link oracles, with collaterals ranging from (45-85)%.
Cream Finance is not only Defi protocol cooperating with a polygon. In a tweet, Cream confirmed polygon markets would be “incentivized with $MATIC liquidity mining”
Cream Finance is a part of the Yearn Finance ecosystem. It is a permissionless, open-source, and blockchain-agnostic protocol. It is a decentralized lending protocol for an individual, institution, and other protocols to access financial services.
The Polygon network is growing. Institutional investors are pouring money into Polygon, In May, Billionaire Mark Cuban also invested in Polygon and added it to his company’s portfolio.
