List CRETH as Collateral Asset

Summary

Listing CRETH2 as collateral asset. CRETH2 (Cream ETH2) is the IOU token of staking for ETH2.

For: List CRETH2 as collateral asset
Against: Do nothing

Motivation

Soon the team will launch a new product CRETH2 to enable the community to involve in ETH2. This product will allow users to stake ETH and become part of Validators of ETH2. Contracts and details will be revealed before voting.

There are two motives to stake in CRETH2:

  1. Validator will be rewarded with ETH returns in ETH2. Total reward rate is ranging from 5.36% to 22.97%. Details can be found here.
  2. When you stake ETH, you’ll get CRETH2 as IOU token in return, and it can be used as collateral asset in C.R.E.A.M. Lending

The second motive is the main idea of this proposal.

In the end, people will migrate from ETH to ETH2, but here we offer another usage of your ETH during the migration. By listing CRETH2 as collateral asset, there will be more benefits for participating in ETH2 through C.R.E.A.M. Finance.

Background

What Is Ethereum 2.0

Ethereum 2.0 (hereinafter referred to as ETH2) is the upcoming major upgrade to Ethereum Mainnet. It refers to a set of interconnected upgrades that will make Ethereum more scalable, more secure, and more sustainable. These upgrades are being built by multiple teams from across the Ethereum ecosystem.

More Scalable

Ethereum needs to support 1000s of transactions per second, to make applications faster and cheaper to use.

More Secure‌

Ethereum needs to be more secure. As the adoption of Ethereum grows, the protocol needs to become more secure against all forms of attack.

More Sustainable‌

Ethereum needs to be better for the environment. The technology today requires too much computing power and energy.

More details can be found in Ethereum Official Website.

2 Likes

CREAM can capture a lot of ETH market through this. A no-brainer add.

1 Like

Here are the details and the contract:

1 Like

Supportive of this. We should put this to a vote and continue to carry this momentum forward. Not only have we not seen any eth2 staking services open for deposits yet, nobody’s even talking about collateral and leverage. Total value add for sure. Agree with @goldenboy.

1 Like

The voting will start soon

1 Like