The latest update from C.R.E.A.M. Finance is focused on treasury management in February. The platform has been busy working on new ways for managing earnings. Besides, CREAM buyback and making on SushiSwap were two of the largest focus areas in February. Converting the revenue model in C.R.E.A.M. was gradually done in the last month.
New Revenue Models for C.R.E.A.M.
Treasury management is one of the essential processes in DeFi platforms. They work on various models to find the best revenue model. Converting earnings to more reliable assets is one of the prominent solutions for these platforms. C.R.E.A.M. Finance executed a strategic converting solution in February.
The team converted various crypto assets to yield-generating stablecoins between February 17 and February 22. The conversion happened for about $5 million in assets. The converted revenue is now in the stablecoin form, and C.R.E.A.M. deposited them all in the Yearn. No need to mention that C.R.E.A.M. is a member of Yearn community.
The converting process for C.R.E.A.M. happened on Ethereum and Binance Smart Chain. About $750K B.U.S.D. in fees were accrued and converted in B.S.C. C.R.E.A.M. converted some of it to Ethereum wallets, and the remaining was deposited into C.R.E.A.M. v1 to earn yield.
Most of the conversion happened on Ethereum for C.R.E.A.M., and the revenue from 25 assets was converted into U.S.D.T., U.S.D.C., DAI, and yUSD. The funds were split and deposited into C.R.E.A.M. V1, C.R.E.A.M. V2 Iron Bank, and Curve 3pool. C.R.E.A.M. Finance says about this conversion:
“This amount totaled over $4 million USD on Ethereum mainnet, which we have locked in, to stable holdings to protect the C.R.E.A.M. treasury against price fluctuations in the fees generated, increase capital efficiency in its holdings (deploying these funds back to earn interest), and secure the longevity of the C.R.E.A.M. project.”
The conversion of earnings was passed through a proposal before in the C.R.E.A.M. D.A.O. according to C.R.E.A.M. Finance, $400K of multiple stablecoins and ETH was converted into SushiSwap Onsen Master Chel L.P. Staking Pools. It helps the C.R.E.A.M. Finance to increase earnings from SushiSwap, too.