2022-December Centrifuge Monthly Summary

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2022-December Centrifuge Monthly Summary

Welcome to our monthly summary of developments, events and updates from the Centrifuge Ecosystem for December!

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The last month of the year is time for a recap and the review of 2022 is an excellent opportunity to show some of the highlights from the Centrifuge ecosystem. This and more exciting news can be found in the newsletter below!

Key Metrics

  • Total Value Locked: $86.5M (MakerDAO: $22.6M; RWA Market: $5.1M)
  • Total Active Loans: $83.6M
  • Total Assets Originated: $198.4M
  • Loan Repayments in the last 30 days: $7.9M

Ecosystem

The Ecosystem is focused on educating the world about Centrifuge, creating visibility and opportunity for RWAs, and sharing the narrative of how the worldā€™s credit will be financed through DeFi.

December highlights include:

@nicolares28: Canā€™t overestimate how important this is. DeFi is plugging itself into the real economy allowing it to grow past the crypto economy and start adding real value
@CloudBaseCrypto: Awesome work ā¦MakerDAO and Centrifugeā©!! RWAs continue to grow on chain and build out the future of defi
@hexonaut: Congratulations BlockTower and Centrifuge! Another milestone in bridging DeFi and TradFi

Community

The Community is represented primarily by individuals and organizations that are actively participating in governance, contributing to processes and discourse, and are economically tied to the success of Centrifuge.

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  • The Centrifuge community call #23 kicked off the Christmas season and one of our core community members and institutional investors Sam from Bloccelerate gave his personal views on the market sentiment and why he is convinced Centrifuge is doing the right thing. Further Cassidy & Colin talked about why Centrifuge is going to change the world of finance.
  • With the monthly summary I try to cover the most important events, news and development updates from Centrifuge but much more happens in 365 days. To recap 2022, Lucas prepared an overview with the 22 highlights from the Centrifuge ecosystem. Congratulations and to be continued in 2023!

:calendar: Save the date: Centrifuge governance call #13 on January 19 :ballot_box:

Governance

  • The Xmas special of the governance call dealt with the new version of the POP-process, the governance discussion on Centrifuge Protocol Fees and a discussion of the founding documents for the Centrifuge DAO. To celebrate the achievements of the DAO before Christmas, the ā€œdress codeā€ was: wear a hat, the sillier the better!

  • The POP is a community owned and governance-led process for onboarding RWAs into DeFi through Centrifuge. To simplify the POP for onboarding new pools, Colin proposed a new version of the POP-process which aims to increase the community engagement and participation.

  • To increase the token utility for CFG, the GCG started a governance discussion on the Centrifuge Protocol Fees and everyone (from issuer to token holder) is welcome to share his/her comments! This proposal is an important step into the direction of stability and self-sustainability of the protocol.

  • Since the formation of the Governance Coordination group a lot has happened and Orhan (Governance Facilitator) gave an update from Q4 2022.

  • The need for a strong decentralized governance is the core of every crypto project. As Centrifuge is a parachain on Polkadot, the next phase of Polkadot governance OpenGov (Gov2) is of big interest. Once approved by the community it is coming to Polkadot.

  • For all proposals (ongoing, passed and non executed) and snapshot votes please take a look into this well prepared overview by our governance facilitators.

Protocol :cyclone:

The Protocol is represented primarily by organizations that are actively using Centrifugeā€™s technology to facilitate the underwriting, structuring, and financing of RWAs.

Product & Engineering

  • RWA.xyz introduced their analytics dashboard for Real World Assets and their mission is to organize data on RWAs so that investors can make better decisions about where to allocate their capital. As well RWA.xyz wants to help protocols showcase their deals in an equitable fashion to potential investors.

  • Ethereumā€™s OG Vitalik mentioned in his very detailed post Real World Assets and he asked some questions. Together with Maker, Centrifuge has been building and improving (on-chain and off-chain) to make RWA-stablecoins a reality and Aaveā€™s stablecoin GHO will be next!

  • A quick comparison of assed-backed with unsecured loans: An asset-backed loan is a loan supported by specific Real World Assets. On the contrary, unsecured loans have no collateral and therefore the interest rate is usually higher to account for this extra risk.
    Guess what: Loans on Centrifuge are asset-backed!

Stay tuned for the next monthly update with more news, updates and developments from the ecosystem!

What are your thoughts and your feedback? Please leave them in the comments below or you can get in touch with the team, our ambassadors or moderators in Discord!

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