Cream Finance Builds a Compensation Plan After Encountering a Hack

Cream Finance is currently working on a refund process after hackers made away with $18 million. The DeFi protocol aims at compensating investors using 20% of its transaction fees. Cream also plans to clear the debt with Flexa Digital Payment and several AMP participants. How Did it Happen? On August 30, 2021, Peckshield discovered an exploit taking place at Cream Finance. According to the blockchain firm, the hack was successful because of a bug on the $AMP token. The hacker…

What is C.R.E.A.M. Finance, and how does it work?

If you were setting up your plate for another tedious DeFi protocol named after food, C.R.E.A.M. would leave you starving. Despite its appetizing name, this platform’s denomination stands for “Crypto Rules Everything Around Me,” and there is nothing dull about it. The developers could have easily called it “Copying Every Successful DeFi Protocol Around Me And Implementing It On My Platform.” The acronym would have been a bit more challenging to pronounce, but it would have been more accurate with…