On September 24 the creamY platform launched, and a number of users within the first ~24 hours suffered large slippage on their deposits before the pools became balanced.
The dev team changed the UI to add slippage controls & warnings approximately 48 hours after launch, to prevent future users from suffering the same problem with excessive slippage.
As each case is different, we will submit a separate proposal for each case
Case 1 creamY deposit loss=$51,508.21 slippage=23.68%
Case 2 creamY deposit loss=$24,466.82 slippage=11.86%
Case 3 creamY deposit loss=$150,397.12 slippage=5.51%
Case 4 creamY deposit loss=$8,581.35 slippage=1.98%
Case 5 creamY deposit loss=$5,240.29 slippage=1.86%
Case 6 creamY deposit loss=$19,602.39 slippage=1.82%
Case 7 creamY deposit loss=$22,219.67 slippage=1.36%
Case 8 creamY deposit loss=$1,281.70 slippage=0.68%
Case 9 creamY deposit loss=$5,390.93 slippage=0.61%
Case 10 creamY deposit loss=$1,535.03 slippage=0.44%
Case 11 creamY withdraw loss=$54,502.32 slippage=13.04%
for each case:
FOR - Compensation should be paid from Cream treasury funds
AGAINST - Compensation should NOT be paid from treasury funds
The dev team determined that the platform was working correctly, but large slippage was possible during the launch phase while the pools were unbalanced, and adequate warnings and slippage controls should have been added to the user interface.
The UI was changed to add slippage controls & warnings approx 48 hours after launch.
A google spreadsheet was set up for approx 10 days to collect data from affected creamY users.
Every user who added themselves to the google form has a separate proposal, as every case is different, it is up to the community to decide which cases should be compensated.
Earlier proposals were submitted before the recent changes to DAO voting rules, but the vote was inconclusive (less than 15k votes).
We are resubmitting now that locked Cream is eligible to vote.
Snapshot date will be 16 November.
Fairness, help early adopters who supported creamY platform.
The original UI didn’t include slippage controls & warnings.
The creamY Medium articles did not mention the risk of high slippage before the pools became balanced
Positive PR opportunity, “Cream supports its community”
Give future users greater confidence in using the platform, when mistakes happen, Cream DAO is a mechanism to resolve problems.