Decentralized finance challenge Cream Finance will deliver its lending and borrowing companies to Moonbeam, a wise contract platform on Polkadot.
Decentralized finance challenge Cream Finance will deliver its lending and borrowing companies to Moonbeam, a wise contract platform on Polkadot.
In a Thursday announcement, the Moonbeam community stated Cream Finance can be integrating with its ecosystem beginning with its parachain on Kusama, Moonriver, after which on Polkadot. Kusama and Polkadot customers will be capable to use Cream’s companies to deposit digital belongings as collateral or lend them out.
“Lending and borrowing protocols lie on the coronary heart of a productive DeFi ecosystem,” stated Moonbeam founder Derek Yoo. “The combination not solely supplies a vital functionality to the rising DeFi ecosystem on Moonbeam, it additionally supplies builders on Moonbeam with a vital constructing block for creating new Polkadot-based DeFi purposes.”
Associated: Equilibrium’s Polkadot-native stablecoin will combine with Moonbeam
The variety of choices for decentralized finance, or DeFi, tasks constructing on Moonbeam by Kusama or Polkadot have grown in current months as many protocols introduced integrations with the platform. Initiatives embrace cross-chain lending protocol Equilibrium, Ocean Protocol, SushiSwap, Balancer, IDEX, and others.
Cream Finance was not too long ago the goal of a serious hack, during which an attacker used a flash mortgage exploit to steal $18.eight million. Based on the challenge, it has greater than $1 billion in complete worth locked on the platform.
cointelegraph.com