Decentralized lending protocol C.R.E.A.M. finance has announced the launch of Iron Bank on Fantom as part of its partnership with Yearn Finance.
Cream Finance is a decentralized lending protocol that allows individuals, institutions, and protocols to lend and borrow crypto assets.
According to a blog post issued on the 8th, C.R.E.A.M. Finance explained Iron Bank as the more flexible version of C.R.E.A.M. v1, which provides peer-to-pool lending for users, as well as whitelisted borrow agreements for protocols.
The announcement read:
“For the Builders, this upgrade allows the Iron Bank to provide loan agreements to protocols on Fantom, and new chains in the future. This will enable developers to build new products, as well as some of the same features and partnerships as Iron Bank on Ethereum — such as Yearn Vault integrations and Alpha Homora v2 strategies.”
For individual users of C.R.E.A.M., the protocol has moved the frontend from app.cream.finance to yearn.fi. In addition, $CREAM token holders who have staked for $iceCREAM will be allocated a portion of protocol fees across all chains IronBank is deployed.
At the time of its launch, the company announced that C.R.E.A.M. Finance and Yearn Finance will become partners in the multi-chain strategy and will build a cooperative structure when entering the new chain.