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22 April 2021

C.R.E.A.M. launches Iron Bank flash loans, eyes cross-chain capital efficiency

C.R.E.A.M. launches Iron Bank flash loans, eyes cross-chain capital efficiency


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launches Iron Bank flash loans, eyes cross-chain capital efficiency.

C.R.E.A.M., which founder Leo Cheng describes as “the yolo-est Compound fork,” is a money market designed to cover assets that are “underserved” and allow for greater capital efficiency for decentralized finance (DeFi) power users, listing assets such as Yearn vault tokens and liquidity pool tokens.

This despite Iron Bank bearing little responsibility for the vulnerability, and the fact that the Iron Bank has quietly continued to function across multiple Yearn vaults for months — though not nearly at the scale to which it’s capable. .

While Iron Bank can be difficult to grasp conceptually, ultimately what it creates is simple capital efficiency, says Cheng. .

A flash loan might interact with multiple protocols at once and trade between multiple assets, but Ethereum “doesn’t quite care, and it doesn’t quite see the borders with the smart contract projects.” They jump between protocols and assets in a “flash,” enabled by open liquidity?

If Ethereum doesn’t care about the borders between assets and protocols, then why can’t the same liquid efficiency logic apply to all Ethereum Virtual Machine-compatible chains.

The problems in creating ideal, safe capital efficiency across all EMV-compatible chains are significant, but they’re currently being worked through, says Cheng

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