Share this page!

Andrew Køng Profile picture
Twitter logo
17 Jan, 19 tweets, 8 min read
1/ Brief history & Roadmap of @CreamdotFinance

One of the fastest shipping teams in DeFi
2/ August - Launch of CREAM V1 on Ethereum

CREAM V1 launches as a fork of @compoundfinance targeting the long tail of assets, similar to the @UniswapProtocol & @SushiSwap dyanmic

medium.com/cream-finance/…
3/ Within 1 month CREAM surpasses $100M TVL due to quick listing of $YFI

medium.com/cream-finance/…
4/ Launch of C.R.E.A.M. Swap

CREAM Swap at one point contributed significant TVL but is being discontinued due to merger & partnership with @iearnfinance + @SushiSwap allowing CREAM to focus on core borrow/lending competentcy

medium.com/cream-finance/…
5/ Team extends vesting & expands multisig signers

medium.com/cream-finance/…
6/ Launch of CREAM on Binance Smart Chain

BSC CREAM allows the borrow/lending of many large cap assets not on Ethereum

medium.com/cream-finance/…
7/ September - CreamY a dynamic stablecoin swap AMM launches

medium.com/cream-finance/…
8/ CREAM addresses community concerns and revamps governance, reduces FTT collateral factor and pauses SWAG collateral factor

medium.com/cream-finance/…
9/ November - CREAM ETH 2 staking launches collecting 25k ETH ($30M)

medium.com/cream-finance/…
10/ CREAM merges with Yearn ecosystem

medium.com/iearn/yearn-cr…
11/ @chainlink affirmed as primary oracle solution

medium.com/cream-finance/…
12/ CREAM becomes the first money market to implement asset caps as a way to protect/cap CREAM from credit risk of individual tokens

medium.com/cream-finance/…
13/ Roadmap to CREAM V2 (Part I)

medium.com/cream-finance/…
14/ Roadmap to CREAM V2 (Part II) - Iron Bank

medium.com/@CreamdotFinan…
15/ Good Iron Bank explainer on how it benefits Yearn + Alpha as well as driving more activity & interest for CREAM

16/ From what I see, the biggest growth areas in the near term are:

- Bootstrapping more liquidity on BSC CREAM (strategic LM program like Onsen has for sushi)
- Addition of more long tail assets
- Iron Bank + Alpha V2 generating more CREAM borrow/lending demand
Shout out to @leokcheng @machibigbrother @wilsonhuangji @JeremyYangHD @WarcMeinstein Eason, Bun, Stanley, Charlotte, and all the other people working on/supporting CREAM since they launched only 6 months ago
@CZ_binance @binance $CREAM needs a USDT & BTC pair
@cz_binance CREAM perp would be nice too

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Andrew Køng

Andrew Køng Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Rewkang

Andrew Køng Profile picture
16 Jan
The YFI minting decision can be distilled down to the following:

Will the value created by minting outweigh the cost of minting (i.e. dilution) for token holders

The answer is clearly yes
Productivity of development is key to protocol growth. A 3x increase in development productivity and output will translate to token price which obviously all of us care about

Love the 30k meme, but retaining + growing contributor/dev talent is more important
YFI is meant to be a productive cash flow producing asset, not digital gold
Read 7 tweets
Andrew Køng Profile picture
14 Jan
Cream is about to pull a @SushiSwap

Don't sleep on 'em
This image is sick H/T @FUTURE_FUND_ Image
Read 4 tweets
Andrew Køng Profile picture
6 Jan
1/ Liquidity Mining Guidance by @MechanismCap - A Thread

- History
- Incentive Alignment
- Design Considerations
- Liquidity Targeting
2/ History & Fundamentals

3/ Power of Incentives

Read 6 tweets
Andrew Køng Profile picture
4 Jan
1/ There's an interesting dichotomy that has emerged between the #BTC price targets of traditional institutions and the battle-hardened crypto natives

The former targetting $400k-$1m+ have become the moonboys, while the latter is much more conservative targetting $50k-$120k
2/ Previously, I'd align myself closer to the latter group

But the ostentatiousness of the moon targets should not be ignored. It tells me that these massive capital allocators are fully bought in and committed

They've aligned their personal accounts, funds, and social capital
3/ Guggenheim, Scaramucci, Saylor, etc.

They will shill their hearts out with 1000x the impact that any of us can hope to have or thought possible
Read 4 tweets
Andrew Køng Profile picture
30 Dec 20
Virtue signaling and FUDDing algorithmic stablecoins without evidence is pretty lame

At the end of the day, no one knows for sure whether a workable model can be found or not

Crypto is all about experimentation and innovation - Let’s keep it that way
The fact that we can battle test these models with billions of $ summoned on this timeline rather than limited simulations is fucking awesome

Economic studies have always been limited by being retrospective, small scale or slow

Crypto allows us to experiment 100x better
This isn’t kindergarten. Anyone that has ever heard of crypto knows that it’s a high risk field

Maybe stick with something like legacy finance if you can’t accept it.
Read 4 tweets
Andrew Køng Profile picture
6 Dec 20
1/ Algorithmic stablecoins seem primed to explode this coming year similar to how oracles ( $LINK, $BAND, etc) had a great past year
2/ Stablecoins have achieved product-market fit at a mind-blowing scale - with demand for stables pushing total supply into the tens of billions and still exponentially expanding

They're used as SOVs (Eurodollar 2.0) and MoEs in & outside crypto

3/ The issue with current stablecoins is that they are not truly censorship-resistant. They can be shut down & represent a weak link in our DeFi ecosystems.

What's desperately needed are truly decentralized stablecoins. These can make DeFi applications truly unstoppable
Read 11 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @Rewkang has new unrolls!

Check out other threads from @Rewkang!

Read all threads by @Rewkang