From DefiLlama
Jump to navigation Jump to search

SCREAM[1] is a lending protocol built on Fantom, for Fantom. SCREAM provides peer-to-peer lending solutions that are fully decentralized, transparent and non-custodial. SCREAM aims to build high-velocity markets for more traditional crypto-asset lending services, but with the goal of improving overall capital-efficiency across a wider range of Fantom-based assets.

Similar to (and based-from) existing lending platforms like Compound Finance, Aave and C.R.E.A.M. Finance, users will be able to lend any supported assets on our money markets, and use their capital as collateral to borrow supported assets.

SCREAM aims to offer one of the highest liquidity platforms on Fantom. By offering money markets with the highest liquidity at launch, and aligning our incentives strategies with these markets, we believe users can obtain the highest value from its inception. SCREAM will introduce additional money markets, including stablecoins (e.g. FUSD); DeFi tokens (e.g. YFI, SUSHI, CRV, SNX); LP-tokens, and other major markets.

Scream Token[2]

The monetary value of the SCREAM token is nil. No expectation of profit should be affiliated with purchasing the SCREAM token at any time. The SCREAM token does not provide any share of profits and token holders should not expect any profit. SCREAM tokens do not contain any voting power that would provide the holder with any voting power. Nor does holding SCREAM token generate any passive income or profit share that may be attributed from other lending platforms.

Collateral and Reserves[3]

Reserves Factor

Reserves are an accounting entry in each scToken contract that represents a portion of historical interest (set aside as cash) which can be withdrawn or transferred through the protocol's governance (once this is enabled). A small portion of borrower interest accrues into the protocol, determined by the reserve factor. The reserve factor is the percentage of interest paid to the SCREAM protocol. If the reserve factor is 10, then that would imply a 10% rate of interest paid on the borrowed asset allocated to SCREAM.

Collateral Factor

scTokens have a collateral factor that can range from between 0-90%, and represents the proportionate increase in liquidity (borrow limit) that an account receives by minting the scToken.

Large or liquid assets tend to have high collateral factors; whereas smaller or more illiquid assets will tend to have lower collateral factors. If an asset has a 0% collateral factor, it cannot be used as collateral (or seized in a forced liquidation event). However, the asset can still be borrowed.

In summary, the Collateral Factor is the maximum you can borrow against a particular asset.

ScLoans - Flash Loan for Screamers[4]

SCREAM has integrated ScLoans into its Fantom money markets.

ScLoans are developer tools that provide access to undercollateralized loans, pending the borrowed amount (and fee) that is returned within one transaction block on the network.

ScLoans will offer a wide range of use cases, including arbitrage and collateral swapping opportunities, and interest rate swapping.

ScLoans derive from Aave Flash Loans, except ScLoans are implemented on Scream's lending token, scToken.

Similar to C.R.E.A.M. Finance, there are 3 major differences between ScLoans and AAVE Flash Loans:

  1. Developers can directly interact with scToken, instead of the lending pool. To execute a ScLoan, users must know specific asset address of scToken;
  2. There is an additional argument initiator when the callback function executeOperation is invoked. The initiator is the msg.sender who calls the ScLoan function.
  3. fees are 0.02%.

Currently there is no available assets for flash loan.

#WIP 25-04-2022