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FTX keeps innovating ... unexpected $70M FTT ICO coming to a liquidator near you? Collateral factor for FTT is 20%, so Alameda won't let this be liquidated. The risk is a black swan on FTX which is unlikely but not impossible. Cream should really have set a max FTT supply here.

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Meeseeking

@meeseeking

Oct 8, 2020

Do @CreamdotFinance & $CREAM holders understand that their entire platform is facing existential risk? The amount of $FTT collateral on their platform is 25% of $FTT float and 40% of Cream TVL. If $FTT fails, $CREAM fails and lenders won't get their money back. The fix is easy.

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Julien Thevenard

@JulienThevenard

Oct 8, 2020

I got the 20% from here medium.com/cream-finance/ At 50%, this is a whole different game! Losing 50% would take much less than that.

medium.com

SUSHI, FTT Tokens Listed

Today we have listed SUSHI and FTT on the C.R.E.A.M. platform. Users can now supply and borrow SUSHI and FTT at app.cream.finance.

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Julien Thevenard

@JulienThevenard

Oct 8, 2020

Oh my ... Changes everything, that's objectively risky especially since most FTT trading happens on FTX. Without mentioning that I have NO clue what oracle feed they use to get the FTT price.

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binance has a lot of it!

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They do indeed but if there was a 7 or 8 figure liquidation that would be challenging to absorb. I think 50% collateral factor for FTT on cream is incoherent/risky when ETH is 75%. I have no concerns with FTT being used at 20-33%. We need more on-chain liquidity for FTT!