Welcome to our monthly summary of developments, events and updates from the Centrifuge Ecosystem for July!
“Looking back and looking forward” was the title of community call #25. The monthly summary for July shows a collection of Centrifuge’s milestones plus gives an outlook of what to come next. This and much more can be found in this summary!
- Industry-led keynotes at EthCC [5] and Polkadot Decoded
- Altair pools going live
- aUSD/AIR liquidity mining on Karuraswap
- Centrifuge milestones - Looking back
- New governance facilitators Rhano and Ivan
Key Metrics
It’s becoming increasingly clear that Real-World Assets (RWA) can bring sustainable and scalable growth to DeFi, as RWA growth has outpaced DeFi growth Year-to-Date (YTD).
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Total Value Locked (TVL) Growth YTD: Centrifuge +68.0% | Total DeFi -63%
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Total Value Locked: $88.7M (MakerDAO: $26.2M; RWA Market: $5.0M)
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Total Active Loans: $85.1M
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Total Assets Originated: $165.1M
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Loan Repayments in the last 30 days: $6.8M
Ecosystem
The Ecosystem is focused on educating the world about Centrifuge, creating visibility and opportunity for RWAs, and sharing the narrative of how the world’s credit will be financed through decentralized finance. July highlights include:
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Connectors Twitter Spaces. Tune in and hear directly from Ava Labs, Moonbeam, and Nomad on the launch and impact of Centrifuge Connectors, our hybrid cross-chain solution bringing real-world assets to any supported protocol.
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This past month we’ve been busy sharing our vision and plans for building a new financial system across the industry. Don’t miss our keynotes at EthCC and Polkadot Decoded, featuring none other than Cassidy and Lucas.
- This independent research report by Dartmouth Blockchain gives a comprehensive overview on traditional financing and why Centrifuge will play an important role in scaling DeFi.
- Don’t miss this substantial thread on how RWAs will help DeFi exponentially scale.
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.
- Time flies and a lot has happened since Centrifuge’s birth in 2018. It was about time to give an overview of the milestones in the history of the ecosystem. A big “Thank you” to Rhano for preparing this awesome journey through time!
- The POP-Process is slowly attracting more new issuers interested in launching a pool in Tinlake. Take a look at the latest submissions from Lend East and Supply@ME) plus the remaining ongoing submissions. Don’t forget to leave your valuable feedback in the forum and to vote in the polls for the upcoming pool parties!
- Because governance is a crucial part of the ecosystem, two new governance facilitators were nominated! If you are familiar with the ecosystem, you should know Rhano’s educational content plus his user guides and Ivan’s constant user support in all channels. Congratulations to both of you and looking forward to jointly shaping the future of the ecosystem!
Governance
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In the Centrifuge Governance Call #7 the Polkassembly founders @polk_gov @Jas_Jaski gave a demo of their governance UI. It is one of the two options, Subsquare being the other option, that we need to decide on being implemented for Centrifuge, with a final decision pending.
Don’t forget to claim your POAP if you attended the call! If you have questions how to do that ask DrCao.
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Ongoing referenda and proposals:
Tinlake rewards restructuring part III (#7)
Enable Wormhole USDC transfers from/to Karura to Centrifuge/ Runtime upgrade 1009 (#6)
Enable Wormhole USDC transfers from/to Karura to Altair/ Runtime upgrade 1018 (#11)
Additional CFG token utility (RFC)
Implementation of the EURO stable coin (RFC)
Increase transaction fees and use them towards a token burn (RFC) -
Passed referenda:
RWA market rewards proposal Q3 (#5)
Opening first pool on Altair (#10)
Increase the Centrifuge council from 7 to 9/ Runtime upgrade 1007 (#4)
Add Centrifuge Pools/ Runtime upgrade 1016 (#9)
An overview plus an outlook on upcoming Runtime upgrades can be found in the forum.
Upcoming events:
Save the date: Centrifuge governance call #8 on August 18!
Protocol 
The Protocol is represented primarily by organizations that are actively using Centrifuge’s technology to facilitate the underwriting, structuring, and financing of RWAs.
Product & Engineering
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A huge update on the Altair network! As you all know Altair is used as a canary network to test new functionalities before they go live on Centrifuge chain. Soon pools can be launched on Altair which is an important step before Tinlake pools can finally move to Centrifuge chain!
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The AIR/aUSD Liquidity Incentive Program launched on Karuraswap and AIR is now tradeable on the DEX! Liquidity providers will be incentivized with AIR+KAR until the program ends
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This is an ongoing proposal to open a cross-chain communication channel between Acala and Centrifuge to enable token transfers between the two parachains.
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Don’t miss another proposal from Genshiro to integrate AIR into their DeFi platform.
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Centrifuge has been added to the Hatchfi API!
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!
