CreamY creates deep liquidity between stablecoins and their yielding counterparts through a single pool
I imagine this creating a pretty deep liquidity blackhole that becomes a focal point of crypto trading with many positive externalities
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1/ First read this article to understand what creamY is at a high level
The stablecoin pool consists of: USDT, USDC, TUSD, BUSD, yCRV, yyCRV, yUSDT, yUSDC, yTUSD, cUSDT, cUSDC, crUSDT, crUSDC, crBUSD.
medium.com/cream-finance/…
2/ This greatly increases the utility of yield generating tokens because now they can become much better MoE
i.e. Through aggregators, I can trade directly from e.g. ETH to yyCRV (ETH > USDT [Uniswap] > yyCRV [CreamY]) instead of trading ETH > USDT, depositing twice to get yyCRV
3/ The former is a lot more gas efficient and makes yield tokens more accessible for retail traders whereas the latter precludes retail trades due to gas costs and impedes maximal usage of yield tokens for non-retail due to the friction of all the steps involved
4/ If yielding tokens become more commonly used MoE, then they will be more demanded which will indirectly translate to an increase of assets supplied (TVL) to @CurveFinance @compoundfinance @AaveAave and @CreamdotFinance
5/ TL;DR - CreamY opens the potential for yielding stablecoins to be used as money which = more liquidity for lending platforms + Curve
6/ Actually, not just stablecoins - really the yielding version of any asset
Why swap and sit on ETH or wBTC when I can be sitting on yETH or ycrvRenWSBTC & generating yield
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