C.R.E.A.M. Finance introduces Boosted Savings offering investors very high APYs on BNB staking.
Boosted BNB Yields
C.R.E.A.M. Finance unveils Boosted Savings, the protocol’s latest product that looks to provide much higher annual percentage yields (APY) for investors staking $BNB. The move is a first in decentralized finance (DeFi) and brings another way for users to get gains via a unique mechanism on Binance Smart Chain (BSC).
The high APYs promising feature is set for launch on July 29 at 18:00 UTC+8 on BSC. The announcement of the new feature was made on July 29th by a C.R.E.A.M. Finance Twitter post.
For users, Boosted Savings will come built-in automatically to the platform’s staking feature, meaning users will only have to click to take advantage of the higher APYs. C.R.E.A.M. Finance can offer higher APYs by distributing part of their validator rewards back to investors who deposited.
How Does Boosted Savings Work to Help Investors?
C.R.E.A.M. Finance is a validator protocol on the BSC network. As a validator they stake $BNB and receive APR rewards from the BSC network. With lending a part of C.R.E.A.M. Finance’s platform, users, when staking BNB, are effectively loaning BNB to C.R.E.A.M. Finance’s BSC validator.
This means that when users stake BNB, C.R.E.A.M. Finance receives higher validator APR rewards because more BNB is in C.R.E.A.M. Finance’s BSC validator. It creates a functioning ecosystem.
Boosted Savings was created as a way of rewarding those who staked their BNB with C.R.E.A.M. Finance, offering a very high APY return on investor deposited BNB.
“The added benefit for users is they are able to withdraw their funds at any time and are not subject to the normal 7 day lock-up period required for staking to a BSC validator. Additionally, users maintain the option to borrow up to 75% of their BNB position for whichever asset they choose.” C.R.E.A.M. Finance wrote in their Medium post elaborating on the use-case and user benefit of Boosted Savings.
To check the Boosted Savings APY on C.R.E.A.M. Finance, users should click BNB on the Supply Assets section of the lending page. A window, shown in the image above, will appear offering the ‘Supply APY’ and the ‘Distribution APY.’ The ‘Distribution APY,’ shown above equaling 10.18%, is the boosted validator reward APY.
C.R.E.A.M. has whipped up quite a delight for DeFi investors. The Boosted Savings venture hopefully sends the best to the top.
What is C.R.E.A.M. Finance?
C.R.E.A.M. Finance is a decentralized finance platform run on the Ethereum blockchain. According to CoinMarketCap, the protocol was created as a Compound Finance’s fork while their C.R.E.A.M. SWAP is based on Balancer Labs’ coding.
The protocol allows investors and users to engage in services including borrowing, lending, yield farming, token swapping, and payment. In September 2020, the platform went live on Binance Smart Chain. The protocol’s native token is CREAM, where users can borrow, stake, or participate in governance.
Where to find C.R.E.A.M. Finance
Source : bsc.news
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