Cream Plunges on News That Hack Compensation Will Inflate Token Supply

Posted on by American Coins & Gold

Cream Plunges on News That Hack Compensation Will Inflate Token Supply
The price of decentralized finance (DeFi) money market and lending service C.R.E.A.M. Finance’s token plunged Saturday for the second time in less than a month.The first time came after an attack drained Cream’s coffers. The latest when Cream announced its plan to do right by the victims.To recompense victims of the attack, Cream said it will issue to certain affected members 1.45 million CREAM tokens from the service’s treasury. While Cream has 9 million coins outstanding, per CoinMarketCap, only 150,000 of those are in circulation. By so rapidly expanding the supply of coins in circulation, it’s bound to affect demand…