2023-April Centrifuge Monthly Summary
Welcome to our monthly summary of community news, events and governance updates from the Centrifuge Ecosystem for April!
The TVL in Tinlake is climbing and climbing to record highs in the previous months, in April BT3 from Blocktower launched and it is already the second largest pool in Tinlake! This and more exciting news can be found in this newsletter!
- BlockTower Series 3 launched!
- Draft for the Centrifuge Credit Group Charter
- Research grant: State of the Market 🕮
- Centrifuge governance integration in Nova Wallet
- Events: NFT NYC 2023 & RWA and Asset tokenization
- GIGPool update: Notice of Pool closing
- Total Value Locked (5/1/23): $208.3M (MakerDAO: $112.8M; RWA Market: $4.1M)
- Total Active Loans: $193.6M
- Total Assets Originated: $356M
- Originated in April: $37.8M
- Assets repaid in April: $13.6M
- Token Holders: 45,341 Wallets
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 DeFi.
April highlights include:
- Let’s start with some events: Asad, representing Centrifuge at a Twitter spaces organized by Bifrost on RWA & Asset tokenization as well he was present at NFT NYC on the future of DeFi protocols. Further was Anna at a Polkadot meetup in Berlin with Parity and Phala
- Coindesk published two articles about Real-World Assets: a research report from Bank of America about the tokenization of the Gold market and about the chances for tokenization of Real World Assets to become the next big thing in crypto - and beyond
- Coinmarketcap covers in its Crypto Basics series the missing link between DeFi and TradFi and gives a very detailed overview of Real World Assets, the leading protocols and present a case study
- It’s a good sign when influencers and YouTubers cover a project: I like the time and effort the team at Altcoin Buzz invested in the research for the article. The same goes for Chico Crypto, an early supporter of Centrifuge who certainly knows what he talks about when he produces content
- The research published in Thibault’s Substack is very detailed and an interesting piece of work which shows the bridge between institutional DeFi and TradFi and the benefits of issuing and tokenization of RWAs on-chain
- Axios makes in the April newsletter an ambitious claim that “putting Real World Assets on-chain could end the Wild West in crypto” and that RWAs could “eventually retire Wall Street”. Let’s stay curious…
In a nutshell: The future looks bright for RWAs!
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.
- Mark Hergenroeder, the recently nominated new facilitator of the Centrifuge Credit Group, proposed a first version for the Credit Group Charter. The draft outlines the Credit group’s roles, main responsibilities and goals.
As well, Mark published an update on the quarterly budget structure to inform the community over the usage of the funds
- Stellaswap published a proposal for CFG to be used as an incentive in their DEX with the goals to increase liquidity for CFG and to raise awareness of Centrifuge for EVM protocols and the Polkadot ecosystem. The RFC is still open for comments and remarks
And more news (and Tweets) from the community:
A high-level thread by Coinesper which deserves some likes and re-tweets (and don’t forget to tag Centrifuge in there): The Next Generation for Markets is the tokenization of Real World Assets
@kanbeok: Everyone’s always looking for the Next Big Narrative in Crypto
@Hercules_Defi: RWA is a dead narrative, it hasn’t taken off for many years
@scytaledigital: Will Real World Assets change the DeFi Game?
@sebventures: Few points on @rleshner RWA take on why MakerDAO is wrong to do RWA off-chain
@centrifuge: From a16zcrypto 's State of Crypto 2023
@CryptoKoryo: on-chain data indicating steady and sustainable growth on credits for Centrifuge
Save the date:
Centrifuge Active Contributors Call #3 on May 10 is where strategic and tactical updates are shared and discussed with those who contribute most to the Centrifuge Protocol and Ecosystem. If you want to know how to join founding docs
Centrifuge governance call #17 on May 24
- I want to start with the Governance update April and important proposals which passed: Enable EVM compatibility for Centrifuge, Update Tinlake rewards and set the Altair Collators to 10! Thanks to everyone who voted and participated.
All proposals and snapshot votes are summarized in this overview.
Please actively participate in the governance process, leave your comments and remarks in the RFCs and vote on polls:exclamation:
- The Centrifuge Active contributors call for core members of the DAO took place on April 12 and the Centrifuge governance call #16 with an update from the Credit group, the extension of Tinlake rewards plus the proposal to list CFG on Stellaswap brought acute discussions
- The Centrifuge Network Foundation announced a research grant and is looking for a researcher with product knowledge to write about the State of the Market. The focus lies on Real World Assets and on chain credit. Researchers can submit their interest in the form attached to the forum post
- Simplicity and accessibility are important factors in crypto and governance in particular. Very good news came from Nova Wallet where users can now simply vote in on-chain governance proposals for Centrifuge using Nova’s governance interface within the wallet!
- This is an interesting and unique governance proposal from a community member who submitted a proposal for a legal review of a Tinlake pool. As always it is up to the community to decide if this proposal should be driven on
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
- BlockTower Series 3, the second pool of BlockTower, launched in early April and it is already the second largest pool in Tinlake with more than $27M of asset value! If the pool continues to grow at this speed, the pool reserve will be reached very soon! Congratulations!
- GIG Pool Update: Unfortunately less good news from one of the first issuers in Tinlake. END Labs notified the community about the closing of their GIG Pool which will happen later this year in September when the maturity of the last asset has ended. Thanks to the issuer for the trust in the protocol and good luck for the future!
Stay tuned for the next monthly update with more news, updates and developments from the ecosystem!
What are your thoughts and your comments? Please share your feedback as reply to this post below or you can get in touch with the team, our ambassadors or moderators in Discord!