Today in DeFi - CREAM Iron Bank, PowerPool $ASSY, and More
CREAM Iron Bank
CREAM Finance has announced the Iron Bank, which will be a protocol-to-protocol lending platform. The Iron Bank will be powered by a credit system which will allow for zero-collateral loans. Protocols on a whitelist will have a credit limit up to which they can borrow. The current assets are:
WETH
DAI
y3Crv (a yield-earning stablecoin)
Yearn and Alpha Homora will be the first launch partners of the Iron Bank.
Today in DeFi is sponsored by Aave.
Aave is a decentralised, open-source, and non-custodial liquidity protocol for earning interest on deposits and borrowing assets. It tokenizes deposits as aTokens, which accrue interest in real time. Aave also features access to Flash Loans and Credit Delegation as uncollateralised loan options.
Try it today at: https://aave.com
PowerPool ASSY
PowerPool is launching $ASSY, an index of Aave, Synthetix, Sushi, and YFI. The audit details can be found in the github link above.
Charm Mainnet Soon
Options Platform Charm Finance is coming soon to mainnet. Based on user feedback they have made several changes, which are detailed in the link above.
RuneBridge
RUNE can now be switched from Binance Chain to Ethereum and back, via RuneBridge. Rune holders can use this to stake Rune on Sushiswap for rewards.
Synthetix Optimism Transition Plan
Synthetix has released its optimistic L2 transition plan. Similar to Ethereum 2.0’s multi-phase rollout, Synthetix will also transition its project over time.
The first phase is described:
Phase 0
One way SNX bridge from L1 to L2 including escrowed SNX
SNX & sUSD will be non-transferrable on L2
Minting of non-fungible sUSD
Claiming of SNX (funded via the sDAO)
Find out more in the link above.
Follow @todayindefi to keep up with the latest DeFi news on Twitter.
Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned