Cream Finance integrates with Polkadot blockchain via Moonbeam

Cream Finance, decentralized finance (DeFi) project, ​​will integrate its lending and borrowing services with Moonbeam, a smart contract platform on Polkadot. Kusama and Polkadot users will be able to use Cream’s services to deposit digital assets as collateral or lend them out.

On a Thursday, Moonbeam has announced Cream Finance would be integrating with its ecosystem, starting with a parachain on Kusama, Moonriver, and then on Polkadot.

“Lending and borrowing protocols lie at the heart of a productive DeFi ecosystem,” Derek Yoo, a Moonbeam founder, said. “The integration not only provides a critical capability to the growing DeFi ecosystem on Moonbeam, but it also provides builders on Moonbeam with a critical building block for creating new Polkadot-based DeFi applications.”

In recent months, the number of DeFi projects based on Moonbeam through Kusama or Polkadot has grown as many protocols announced integrations with the platform, including cross-chain lending protocol Equilibrium, Ocean Protocol, Balancer, SushiSwap, and IDEX.

As reported last month, obtaining the parachain slot on the Kusama auction, Moonriver network completed the first part of its launch process, bringing parachains a step closer to reality.

The initial five Kusama parachain auction winners have been chosen between June 15th and July 20th, with Moonriver, a community-driven sister network to the Moonbeam Foundation, among them.