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CREAM FINANCE


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0xCC87...0185

Closed


TAKE BACK REMAINING WHITEHAT BOUNTY TO COMPENSATE EXPLOIT LOSSES

Summary Ethereum Cream depositors experienced a total loss after the October
2021 exploit. Whitehats from the AMP exploit recovery have already received
12.5% of recovered funds. It’s time to recover this bounty and put it toward
compensating exploit losses from the October 2021 exploit. Action FOR: Cream
Team must stop payment to whitehats named “Lossless/ Pascal” and distribute
remaining, 1932.15 ETH, to all impacted depositors on Ethereum Cream based on
percentage of Supply - Borrowed assets valued at October 28, 2021, excluding
crETH2 deposits. AGAINST: Cream Team makes no change and pays out the remaining
1932.15 ETH to the whitehats named “Lossless/ Pascal”. Background In August
2021, Cream Ethereum was exploited. Two “whitehat” groups emerged, with the
first earning 10% bounty and the second earning 50% of the remaining 90% of
returned funds. Standard industry bounty for whitehat is 10%. Condition for 50%
bounty according to the blog post required “leading to the arrest and
prosecution” of the perpetrators - none of this ever happened yet somehow we as
a protocol honored a 50% bounty without a vote. In October 2021, another exploit
happened that made the Cream Ethereum system to become insolvent, leaving
depositors in a total loss scenario. Then the team gave back everything they got
back- yearn yCRV recovered and the crETH2 rugged back from the exploiter. Plus
they gave up all of their team vesting and treasury tokens. Everyone got hurt -
token holders, team, depositors. Just not these whitehats. According to Cream
Dev: The current agreement is a 50% bounty of recovered funds to the whitehats
in Lossless/ Pascal from the AMP exploit from August 2021. The bounty is being
paid out over a 2 year period linearly: Recovered funds: 5152.5 ETH 50% bounty:
2576.25 ETH Payments for 6 months so far: 644.1 ETH Remaining for this bounty:
1932.15 ETH Motivation To find all available funds to use toward recouping
losses for depositors. Rationale Industry standard is 10% of recovered funds for
whitehats. We have already overpayed these second set of whitehats by giving
them 12.5% of recovered funds. Plus they did not meet the conditions of “leading
to the arrest and prosecution” of the perpetrators.

End bounty; pay exploit losses 5.1K iceCREAM
100%

Change nothing 0 iceCREAM
0%

Ended 3 years ago

easoncream.eth
Core

Closed


LISTING COMMITTEE #2

This is the voting for the second epoch of Listing Committee. See nomination
thread. Nominees In nomination order: Max: existing member Kiba: existing member
Rolf: existing member Calvin: existing member 0xMaxi Read more about nominees
Voting Be aware. This is Approval Voting. You may select any number of choices,
and the top five win the seats.

Rolf 476 iceCREAM
96.12%



Ended 3 years ago

easoncream.eth
Core

Closed


TRANSFORM THE EXISTING FANTOM MARKETS TO FANTOM IRON BANK

Link to the proposal and discussion thread on Forum Summary As the lending arm
of Yearn, C.R.E.A.M. Finance will transit the existing Fantom markets from
app.cream.finance to Yearn frontend, and it will become the Fantom Iron Bank at
launch. The right of the listing decision will also be transferred from Listing
Committee to the Iron Bank team, which is consistent with the current practice
of Ethereum Iron Bank. For Approve the transition Against Do nothing Motivation
Iron Bank on Ethereum has reached $1B total supply, and the credit limit /
whitelisted borrowing has been proven capital efficient with our partners Yearn
and Alpha Homora. With Iron Bank launching on Fantom, we can extend the same
practice to Fantom, and work with Yearn for the greater market. Specification
Once the voting has passed, the team will begin the transition to Fantom Iron
Bank. During the transition, user can access Fantom Iron Bank through both
C.R.E.A.M. Finance and Yearn frontend. It will be a roughly four weeks
transition period, with start date and end date to be announced. This allows
user to get familiar with the new entrance to Fantom Iron Bank.

For 36K iceCREAM
100%

Against 0 iceCREAM
0%

Ended 3 years ago

claberus.eth

Closed


INCREASE GNO COLLATERAL FACTOR TO 60%

Summary Increase collateral factor for GNO from C1 (zero) to C5 (60%).
Motivation GnosisDAO is a long-term player committed to the success of
C.R.E.A.M. Finance by holding 4-year-locked iceCREAM, participating in its
governance and providing significant ETH and GNO liquidity to the protocol. GNO
listing on C.R.E.A.M. was a crucial first step to enabling collateralised
lending for GNO holders. Increasing GNO's collateral factor would give
additional utility for GNO token holders and incentivise activity in C.R.E.A.M.
Finance. Asset Details: GNO is the token that represents the governance of the
GnosisDAO. GNO is a very liquid token that currently allows trades of 400K USDT
with a price impact lower than 2% as shown on https://cowswap.exchange At the
time of writing $2.7MM worth of GNO is already deposited to C.R.E.A.M. GNO token
holders are demonstrating continued interest using GNO in DeFi with +$45MM
liquidity provided to Balancer and Uniswap pools and +8MM in Unit Protocol.
https://blog.gnosis.pm/announcing-gnosisdao-a7102fcf9224
https://www.coingecko.com/en/coins/gnosis Background Website: https://gnosis.io/
Forum: https://forum.gnosis.io/ https://blog.gnosis.pm/ Forum discussion about
increasing GNO collateral factor:
https://forum.cream.finance/t/increase-gno-collateral-factor/1765 Action item
For: Collateral factor of GNO is increased to C5 level. Against: Do nothing.

FOR 1.5K iceCREAM
100%

AGAINST 0 iceCREAM
0%

Ended 3 years ago

j-ledger.silvavault.eth

Closed


INCREASE CEL COLLATERAL FACTOR TO 60%

There is currently ~$2.5M of supplied CEL on the Cream platform available to
generate loans and usage to Cream. CEL has $10M+ of AMM liquidity and is also
listed on several well known exchanges such as Bitfinex, Bittrex, FTX, Liquid,
OKEX, and others. CEL daily trading Volume exceeds $20m, according to Coingecko.
Discussion link:
https://forum.cream.finance/t/increase-collateral-factor-of-cel-to-45/1560

For 1.7K iceCREAM
9.58%

Against 16K iceCREAM
90.42%

Ended 3 years ago

easoncream.eth
Core

Closed


ICECREAM, PROPOSED CREAM TOKENOMICS

View proposal discussion on forum Summary (Phase I) iceCREAM turns CREAM into a
productive asset which earns protocol fees. iceCREAM tokens will have the same
three main use cases as CRV - voting, staking, and boosting. How iceCREAM works:
Lock CREAM between 1 week to 4 years to receive iceCREAM. iceCREAM becomes
non-transferable and non-tradeable. 50%+ of Protocol Reserves going forward will
be distributed as ycrvIB tokens to iceCREAM stakers. 1 iceCREAM = 1 vote in the
future of C.R.E.A.M. Finance governance. iceCREAM staked translates to voting
power which can be used to determine allocation of CREAM token liquidity mining
by chain and market (e.g.- Ethereum, ETH). If liquidity mining is enabled on
borrow markets (more on this as part of phase II) Once you vote, your vote will
remain directed at pools unless modified. Users will have the ability to change
their votes every week and will be able to allocate their iceCREAM to different
pools. iceCREAM allows the user to control CREAM emissions across all C.R.E.A.M.
markets in the future. iceCREAM increases emission from a base factor of 0.4 to
a max of 2.5x, the more iceCREAM you stake, the more CREAM you earn. Minting
iceCREAM Assuming 1000 CREAM vote-locked: | minted | vote-locked
|--------|------------ | 1000 | 4 years | 250 | 1 year | 127.4 | 6 month | 63.7
| 3 month | 21.23 | 1 month | 4.79 | 1 week Long-Term Staking CREAM can vote For
the early supporters of C.R.E.A.M. Finance who locked their CREAM in the
long-term staking program, these token holders should be entitled to governance
alongside iceCREAM holders, but will not be eligible for emission boosts. Phased
Implementation We propose to implement this new tokenomics in a phased approach,
where Phase 1 implements locking CREAM into iceCREAM, migration of voting from
CREAM to iceCREAM, and distribution of protocol fees to iceCREAM stakers. For
Move to CREAM as a productive earning asset Against "Do nothing" References:
oSUSHI: https://forum.sushi.com/t/sushinomics-introducing-osushi/4055 veToken:
https://ve-token-voting.vercel.app/

For 56K iceCREAM
100%

Against 1.2 iceCREAM
0%

Ended 3 years ago