Cream Finance Integrating With Polkadot Blockchain Via Moonbeam!

Cream finance, the popular Decentralized finance (DeFi) project will provide its lending and borrowing services to Moonbeam. Moonbeam is a smart contract platform on Polkadot. In an announcement on Thursday, Moonbeam said Cream Finance will integrate with its ecosystem. It will start with the para chain firstly on Kusama, Moonriver, and then on Polkadot. All the users of Kusama and Polkadot will be able to use Cream Finance’s services. Also, they will be able to deposit digital assets as collateral or external loan.

The founder of Moonbeam, Derek Yoo said:

“Lending and borrowing protocols lie at the heart of a productive DeFi ecosystem. The integration not only provides a critical capability to the growing DeFi ecosystem on Moonbeam, but it also provides builders on Moonbeam with a critical building block for creating new Polkadot-based DeFi applications.”

The number of options for Moonbeam-based decentralized finance projects via Kusama or Polkadot has increased in the last few months. This is because more protocols have announced their integration with the platform. Such projects include cross-chain lending protocol Equilibrium, Balancer, Ocean Protocol, IDEX, SushiSwap, and others. Cream Finance was recently the victim of a major hack. There, an attacker used a form of quick loan exploit to steal $18.8 million. Also, according to this popular Decentralized finance (DeFi) project, it has over $1 billion in total value locked on the platform.

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