2023-January Centrifuge Monthly Summary

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2023-January Centrifuge Monthly Summary

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

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In 2023 the RWA-revolution is going to continue and the new year started with a significant spike in Tinlake’s TVL. Do you want to know what happened? An explanation will be given below and more exciting news can be found in this newsletter!

Key Metrics

  • Total Value Locked: $137.7M (MakerDAO: $47M; RWA Market: $4.1M)
  • Total Active Loans: $135M
  • Total Assets Originated: $269M

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 DeFi.

January highlights include:

  • Centrifuge and Credix are creating the infrastructure that will power the future of finance, at the intersection of traditional credit and DeFi. Follow this Twitter spaces on Scaling Real World Assets in DeFi.
  • In the third episode of DeFi Drip Cassidy speaks with Chuck Mounts, the Chief DeFi Officer of S&P Global. Chuck talks about his vision and belief how DeFi is going to revolutionize our financial system.
  • Globalfintechseries covers Centrifuge and the article explains why protocols such as Centrifuge, which are building despite the bear market, are going to emerge even stronger from the crypto winter
  • The Defiant covers how “Centrifuge quietly sets pace in the Real World Assets Race” and the article covers in detail the rise of RWAs. Further Lucas and Asad state how any asset can go on-chain and which challenges Centrifuge is facing.
  • Quick news from RWA.xyz: Centrifuge has (for the first time since May 2021) the highest loans value outstanding of any Real World Asset-protocol! Curious to see how the numbers grow, when Blocktower launches all their pools in Tinlake!

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.

  • The launch of Blocktower’s first pool caused a significant spike in Tinlake and the TVL locked in the Centrifuge protocol hit a massive milestone: $100M TVL! This shows Real-world assets are here to stay, and they’re being brought on-chain with Centrifuge. “Wen $1 billion”? Taking the potential of RWAs into consideration, the Sky is the limit!
  • A great thread by FortunaFi on the state of RWAs and stablecoins plus 10 predictions for 2023

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…and more tweets:
@DefiIgnas: The Real-World Asset revolution in DeFi is already here — but many aren’t paying enough attention yet
@JamesT0lan: Explain the real-world asset platform, Centrifuge, to me as if I’m 9 years old
@MessariCrypto: Real-world assets (RWAs) are a multi-trillion dollar asset class, yet DeFi’s current exposure is only around $356M
@FukkinDAO: TL;DR Goldfinch and Centrifuge are leading in bringing RWA on-chain. $GFI looks stronger but $CFG has much more potential.
@litocoen: We need to connect crypto to the real world

:calendar: Save the date:

Centrifuge community call/ Pool party with Blocktower! on February 2 :swimming_man:

Governance

  • I want to start the governance section and highlight two Request for Comments because both are important pieces for the foundation of the DAO and the long-term sustainability of the protocol: the Founding Documents of the Centrifuge DAO, which consist of the shared Mission, the DAO Principles, the levels of engagement and the Code of Conduct. The second RFC deals with the Centrifuge Protocol fees and it proposes to add protocol fees on the Centrifuge Chain to ensure self-sustainability of the protocol.
    Please actively participate in the governance process and leave your comments and remarks in the RFCs! :loudspeaker:

  • The newly established Centrifuge Credit Group consists of credit experts with specialization in different asset classes with the goal to provide the Centrifuge community and partners with reviews of the Pool Onboarding Proposals. The CCG will support the community with all questions around the setup, assets, and risks of proposed new and existing pools.

  • Centrifuge governance call #13 presented a governance summary on ongoing referendums, Colin talked about the goal to build an RWA hub, enabled an intensive discussion on the RFC for protocol fees with participation from the community and the special topic of RWA and credit based finance which dealt with the question “Is this ReFi”?

  • For all proposals and snapshot votes please take a look into this overview by our governance facilitators.

Protocol :cyclone:

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

  • We restructured the Real World Assets-category in the Centrifuge forum and introduced new subcategories. It is used for broader discussions around Real World Assets and financing, including introductions, Pool Onboarding Proposals plus announcements and updates from active Pools.
    New is the Intros & Opportunities for partners to introduce themselves without requiring further formal details or intent to submit a proposal. This is a place of open discussion between all potential investors, asset managers, and service providers as well community members to explore interest for specific opportunities.
  • For the tech savvy and everyone else who is interested to learn about how to send tokens from an Axelar connected EVM network to a parachain like Centrifuge.

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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