Today in DeFi - CREAM Swap, Sushi Migration, Lien Finance, PERP LBP
CREAM Swap Launches
CREAM Finance, a Compound fork, has now launched CREAM Swap, a Balancer fork. Along with Cream Swap, a liquidity mining program is also launching. Find out more in the Medium Post.
While Compound and Balancer are audited projects, CREAM Finance is not. Liquidity Mining can entail risks, make sure you understand the Smart contract risk and Impermanent Loss before participating.
Sushi Migration Happening Today
The above tweet was posted two days ago. The great Sushi migration will happen today, 14:00UTC time. You can view the countdown at the SushiBoard
The community has done tests of the migration on Ropsten testnet and it worked well, though there may still be risks on mainnet.
Currently, over a billion dollars of value is staked in Sushiswap contracts. It remains to be seen if this liquidity (75% of Uniswap) will remain for the migration or not.
If you are risk-averse you may want to pull out your liquidity before the migration. If not, enjoy the extra SUSHI.
Lien Finance Launches
Lien Finance, a stablecoin and derivatives platform, has just launched. Similar to platforms like MakerDAO, Lien allows users to mint stablecoins, known as iDOL. In the process, another token called LBT is created, which is a call option.
Lien explains LBTs:
βYou can create 2x leveraged long positions on ETH without liquidation and margin calls during flash crashes. There is no counterparty risk either, because everything is Peer-to-Contract with no middleman.β
Find out more about Lien Finance at their website or Telegram.
Perpetual Protocol LBP
Perpetual Protocolβs LBP is also happening today. Perpetual Protocol is the first protocol using a Balancer Liquidity Bootstrapping Pool to distribute their token.
Simulating a dutch auction style of price action, a Balancer LBP shifts the weight of the pool to create downwards price pressure over time.
Disclaimer: I am helping advise Perpetual Protocol on their token distribution and launch.