CREAM Finance (Crypto Rules Everything Around Me) is a decentralized finance (Defi) project based on Ethereum blockchain, and is a fork of Compound and Balancer. These particular actions raise the question if there was a potential conflict of interests between developers / founders and multisig holders. migrate the business fully on chain, to provide complete transparency, 0x3bcfa9357ab84baec04313650d0eebb3fd51070d, Bitcoin’s Success In The Future Will Depend How It Emerges From The Chasm Phase, How Cryptocurrency Relates to the Real Estate Industry, An Introduction to Censorship-Resistant Store of Value, On Schelling points, network effects and Lindy: Inherent properties of communication. The year-end audit and the close were standing agenda items on a weekly all-hands call with the entire finance team to share updates, hear questions, and listen to concerns. After the EF grant, Bun continued to research Plasma at OmiseGo. Crypto Rules Everything Around Me, C.R.E.A.M. Department of Education . Xixi Huang is the Taiwanese lead on the project, and was also responsible for Shrimp Finance and Dice Finance, both projects linked closely to Jeffrey Huang’s CREAM Finance. Trenton, New Jersey 08625-0500 . As a blockchain-agnostic protocol, our next move is to launch on Binance Smart Chain (BSC) in September. Office of School Finance . Internal Audit has a dual role within L’Oréal. This is the latest project to be linked to the CREAM developers, with CREAM finance currently offering exchange between USDC and CREAM for SWAG tokens (remember the early adoption by WIFEY by CREAM), dropping all other exchange pools in favour of SWAG. Bun Hsu, Senior EngineerBun is a blockchain developer, believer, and enthusiast. A user on the Discord channel identified that at the time of launch, 10 addresses had balances of more than 20 million SWAG tokens each. Projects that involve Jeffrey Huang and his team however, do not appear to be so, with links to vote manipulation, close ties to exit scams, failure to address code audits and questionable governance and conflicts of interest. In the near-term, I will continue to operate as a semi-benevolent dictator for C.R.E.A.M. These vendors contract with third-party prescription insurance companies to perform audits on their behalf. He was the first to implement and deploy a DApp for the Ministry of Justice Investigation Bureau During his military service in Taiwan. If there is ever a future fundraise, we anticipate that any future round of fundraising will be decided by the community through governance. Kyle at Multicoin provided insights to Solana; Peter from MetaCartel Ventures informed us of the progress at XDAI; Darius at QCP suggested that we look into Algorand. PO Box 500 . A moderator of the channel Discord suggests that the code is being pushed through audits, however there have been no updates on the matter and no details provided on who is auditing the code: On the 16th September, the team revealed that there was an input error for the number of rewards on the smart contract, with an extra 0 being added leading to 10x the daily rewards being distributed. Change to seed vesting — we have reviewed our progress with our seed token holders, and they have agreed to further support our project by doubling the vesting schedule from 2-year vesting with a 6-month cliff to a 4-year vesting with a 1-year cliff. A Global Leader in Ice Cream Dreyer’s Grand Ice Cream Inc. is part of Froneri, one of the world’s largest ice cream companies. The CREAM Finance code is based largely off Compound, and the Compound code has been audited. In addition to BSC we are also evaluating other scaling solutions. Described on the official website and across its social media platform as “the most widely accepted token in Asia”, the traded volume and coin ranking suggests otherwise. so that we can iterate quickly. A financial audit is an unbiased, objective assessment of the financial reports and financial reporting procedures of an organization or a business. I am the Founder, not CEO of C.R.E.A.M., without a key to the multisig. The CREAM Finance code is based largely off Compound, and the Compound code has been audited. It hasn’t been a month since we launched our YOLO Alpha on August 3rd. An audit and compliance vendor will send you a notice stating plans to visit your store and perform an audit. The community governance portal was launched quietly, with no Medium article or links from the main website. There is no detail on exactly how the tokens will be used to govern the platform from the perspective of profit sharing and development. Cream is a fork of Compound without changes in the smart contract code. There is no road map, no team profiles, no link to the governance community portal on the main website. Our strategy in token listings is simple: List tokens that are valuable but have little to no yield. On the 9th October, the community put forward a proposal remove the FTT token being used as collateral on CREAM. We’re fortunate to have Compound Finance as our technology and security advisor. As we review our progress in hitting $190-million TVL, we wanted to share with the community insights on our journey, learnings, and answers to some of the most commonly asked questions. Starting with a quick look at Huang’s previous project: Mithril (MITH). Heading up the project is Jeffrey Huang aka Machi Big Brother, who besides owning a professional League of Legends esports team, was a member of the popular Taiwanese boy band L.A. Boyz. There are also no details on if founder and developer tokens are locked or unlocked. The vote resulted in users deciding to partially delist FTT. After graduation, he developed one of the first Plasma implementations in the world and joined the first wave of grantees from the Ethereum Foundation. Operating in over 20 countries with more than 10,000 employees, our suite of delicious ice cream products includes something for everyone. Another Long Term Perspective, You Don’t Have To Hate Bitcoin To Think It Is Overvalued, Crypto Assets: Extending Permissionless Innovation, P2P and returning IP and Domain based transfers. Kevin Dehmer SBF allegedly used the CREAM platform to supply FTT tokens to borrow other tokens to sell, and if removed from CREAM, would not be able to continue doing so. I’d like to personally thank Robert and the team at Compound for making C.R.E.A.M. I made the transition from Big 4 Audit to corporate finance (mix of Strategy and Financial Planning), although not directly. Central to the scam was CREAM Finance, where users had to stake yCRV for crYCRV on CREAM to get attractive WIFEY rewards. Further to this, in a write up by Boxmining, the team claim to that they will not actively participate in governance, however on the very first SQUIRT (the terribly named mechanism for token holders to participate in community governance), 526 million tokens have voted. With the funding from this seed round, we have sufficient runway to complete migration to community governance. He received his BS in Computer Science from National Cheng Kung University and MS in Computer Science from National Taiwan University. We are very proud of our talented core team, and would like to take this opportunity to introduce our core engineers: Jeremy Yang, Technical LeadJeremy is a full stack developer with over 4 years of experience in the blockchain space. Just like how Vitalik is not the CEO of Ethereum, and Andre is not the CEO of Yearn. At the time of writing, there is a proposal being brought forward by the SWAG developers to allow SWAG to be used as collateral on CREAM Finance. We’ve allocated 10% of the CREAM tokens to seed this project. However, the team has also had small wins, launching creamY, which was praised by Andre Cronje. The most interesting part of this story is that SBF is a multisig holder at CREAM Finance, and would be negatively impacted by the removal of FTT.