2021/12 Centrifuge Monthly Summary #1

2021/12 Centrifuge Monthly Summary

Welcome to our summary of activities, events and news from the Centrifuge/Altair Ecosystem for the month of December! Because a lot is going on in the Centrifuge ecosystem we want to give you a brief overview.

TL;DR

  • RWAmarket: proposal of a CFG rewards program and the start of the process to join the first permissioned market for real-world assets built on Aave & Centrifuge is live
  • Altair Runtime Upgrade 3 to initiate Altair’s road to decentralization became active (Council Proposals and Voting can start to happen)
  • Altair council applications plus elections
  • CoinList AIRdrop and Altair crowdloan rewards
  • Centrifuge crowdloan started on December 15!

Metrics

Product

Partnerships and integrations:

  • Exciting news from the RWAmarket by Centrifuge & Aave - the countdown is on until launch! This the start of the process to join the first permissioned market for real-world assets built on Aave & Centrifuge

Events:

  • The Centrifuge Community Call 19 was hosted on 9th December and had as a central topic the preview of the Aave Real World Assets Market, the Centrifuge + Polkadot Crowdloan which opened in Batch 2 on the 15th Dec, an update on the Altair distribution plus a report from the newly created CFG rewards working group. The recording of the Community Call can be found on Centrifuge’s YouTube channel and in the newly created Discord channel for community calls.

  • The Pool Party is a new monthly event for Tinlake pools to tell their story directly to the Centrifuge Community and to spread the message of real world assets being funded through Decentralized Finance. The first pool party took place on December 16

Stay tuned for the next Pool party!

  • Drumroll please: the Centrifuge Crowdloan started on December 15!

After the first release of the crowdloan rewards (fixed rewards rate) the sentiment of a part of the community wasn’t good and the team listened to the feedback and decided to adjust the bonuses. Thus, there is now no fixed base reward in the crowdloan and the reserved supply will be distributed to all crowdloan participants as a base reward plus all bonuses (referral bonus, early bird bonus, loyalty bons and heavyweight bonus), which are minted on top. This is the perfect sign how a decentralized community should function!

Within the first 6 days of the auction Centrifuge has collected around 1.6 million DOT staked for the crowdloan which shows a tremendous support of the community!

An overview of the auctions can be found

  • Altair heavyweight bonus: in the Altair crowdloan the heavyweight bonus winners received their NFT-items from RMRK! RMRK minted the rare items and everyone who is eligible received them directly to the KSM-address used for the crowdloan Altair Crowdloan: Heavyweight Bonus Winners!
  • Altair Runtime Upgrade 3: after a first delay the Runtime Upgrade 3 of Altair’s road to decentralization became active on December 13! This is an important step in Altair’s roadmap because all Governance processes are active now (including the council election and voting on proposals can start to happen)
  • Governance Update - Delay of Runtime Upgrade 3 - #5 by mikiquantum

Governance

  • Altair governance Council election: the Runtime upgrade 3 activated the Altair governance and to kick off the governance the Altair council had to be selected. 15 community members with various backgrounds submitted their application for one of the 9 seats in the Altair council and the on-chain proposals were initiated soon after. However, voting is ongoing and community members are called to vote on council members, because Council members are elected in rolling elections, with one council member up for election every two weeks from a list of candidates who nominate themselves.
  • We aim to make sure that we have an Altair Council that represents the community at large. So get voting now. Here is a video to help you do that.

Congratulations to the members of the first elected Altair council!

  • Working group Centrifuge LP Rewards: The newly initiated CFG-rewards working group with community members discussed 3 topics around the Centrifuge rewards program to overhaul the rewards in the near future.

In a nutshell: the discussed changes include external protocol rewards for users who interact with Centrifuge indirectly (e.g. through the Aave Market), different reward rates for TIN/DROP and a lockup incentive to reward long term involvement in the network (Tinlake).

  • Poll: Aave RWAMarket Rewards Proposal:

Following the proposal of the CFG-rewards working group to incentivize liquidity for the Aave RWAMarket - which will use Tinlake LP tokens as collateral for DeFi on the Aave platform - a poll to mint CFG 833,333 for the first 90 days of the protocol launch was created and it passed with 100% of the votes! This is an overwhelming support of the community

  • Validator introduction: Welcome to TURKVALIDATOR and Binary Holdings as a part of the Centrifuge community! If you are interested to stake your CFG with the new validators take a look into the details of their nodes and reach out to them with any questions:
    Validator Discussion - Centrifuge Governance Forum

Community Updates & News

As with every other project as well Centrifuge/Altair can’t fulfill its full potential and grow without their awesome community members who are very active in different channels to support. With more than 17K members in Telegram it’s impossible to list them all but we want to mention a few key members and thank them for their support!

  • https://twitter.com/bil_ko/status/1473705252767649794?s=21
  • With his teaching background and goal ‘to bring complex topics to the masses’, Rhano - another ambassador of Centrifuge - produces very helpful user guides in the forum. His latest posts about the AIR and CFG crowdloans and troubleshooting for claiming AIR can be found in the Community FAQs of the forum:

Claiming Air Rewards

Claiming Coinlist Airdrop

Loyalty Reward Crowdloan

Another important channel where Centrifuge has many supporters is Twitter where I have to mention three very active followers: Peter G - a runner up for the Altair council, Pats_Hardi - another awesome ambassador, and HumanLogic aka. Yaroslav - a validator and Altair council member. Here only a few examples how they contribute to the ecosystem with their tweets:

And lastly

‘Startups are betting on @centrifuge as their banking layer and VCs are betting on businesses that rely on Centrifuge.’

Stay tuned for the next monthly update! If you have any ideas, feedback, or comments leave them below or get in touch with the team, our ambassadors or anyone else in Telegram or Discord!

8 Likes

great summary. good to have these to catch up on everything all at once

3 Likes

Excellent summary, Christian!

If this is going to be a monthly thing, maybe it would be a good idea if people could receive this as an email too (if they subscribe to it)?

Not everyone in the community is on the Forum but I believe that everyone would benefit from receiving monthly updates on their email to follow the progress of Centrifuge - and would be interested in it as well.

3 Likes