List CRETH2 as Collateral Asset

Summary

Listing CRETH2 as collateral asset. CRETH2 (Cream ETH2) is the proof token of staking for ETH2 in C.R.E.A.M. Finance.

For: List CRETH2 as collateral asset Against: Do nothing

Motivation

The team has launched a new product Cream ETH2 to enable the community to involve in ETH2 migration. This product allows users to stake ETH and become Validators of ETH2.

There are three motives to stake in CRETH2:

1. Validator will be rewarded with ETH returns in ETH2. Details can be found here.
2. Use CRETH2 as collateral asset in C.R.E.A.M. Lending
3. Earn reward from CRETH2/WETH reward pool

The second motive is the main idea of this proposal.

In the end, people will migrate from ETH to ETH2, but here we offer another usage of your ETH during the migration. By listing CRETH2 as collateral asset, there will be more benefits for participating in ETH2 through C.R.E.A.M. Finance.

Background

What Is Ethereum 2.0

Ethereum 2.0 (hereinafter referred to as ETH2) is the upcoming major upgrade to Ethereum Mainnet. It refers to a set of interconnected upgrades that will make Ethereum more scalable, more secure, and more sustainable. These upgrades are being built by multiple teams from across the Ethereum ecosystem.

More Scalable

Ethereum needs to support 1000s of transactions per second, to make applications faster and cheaper to use.

More Secure‌

Ethereum needs to be more secure. As the adoption of Ethereum grows, the protocol needs to become more secure against all forms of attack.

More Sustainable‌

Ethereum needs to be better for the environment. The technology today requires too much computing power and energy.

More details can be found in Ethereum Official Website.