2023-March Centrifuge Monthly Summary
Welcome to our monthly summary of community news, events and governance updates from the Centrifuge Ecosystem for March!
The TVL in Tinlake is rising and rising: after record highs in the previous months, BT4 from Blocktower is the first pool to reach $100M! This and more exciting news can be found in this newsletter!
- Centrifuge at ETHDenver
- BlockTower Series 4 just hit $100M!
- Centrifuge governance call #15: Updating Tinlake rewards & EVM compatibility
- Website updated with Centrifuge news 🕮
- Proposal for the GHO Facilitator onboarding
- Centrifuge dashboard on Dune analytics
- Total Value Locked: $170M (MakerDAO: $85.6M; RWA Market: $4.1M)
- Total Active Loans: $168M
- Total Assets Originated: $318M
- Total Assets repaid: $13.9M
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.
March highlights include:
- Centrifuge was present at ETHDenver - in the Wild West - and besides some talks to excite the crowd about Real-World Assets, one of the buzzwords were “regulation” and “compliance”. Max Ament talked with theDefiant why it is important to be legally compliant on-chain and why Centrifuge is following the path of decentralization
- I want to share some articles as a quick reminder why the banking system is broken and how Blockchain will fix this, how Centrifuge is trying to change the world of TradFi and that tokenization of assets is a “Killer use case” ripe for mass adoption
- In particular Real World Assets with Centrifuge as an early adopter and one of the leaders in the space, are gaining momentum. More and more research papers and articles are being published and I want to share a few ones:
-Real World Assets: The Bridge between TradFi and DeFi by Binance Research
-Tokenized Real-World Assets are bringing new yield opportunities to DeFi by Forbes
-How Centrifuge is making DeFi impactful with Real World Assets by Decrypt
-Connecting DeFi and Real-World Asset tokenization by Sygnum
TL;DR: The future looks bright for RWAs, and Centrifuge is heading in the right direction!
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 first Centrifuge DAO call took place on March 8 and it is a new call for Active contributors in the Centrifuge DAO. Are you curious what we discussed, how to become an “exclusive” member aka “Active contributor” plus to get the role in the forum as a bonus?
The pool value of BlockTower Series 4 in Tinlake just surpassed $100M! It reinforces that Blocktower plays a crucial role in the ecosystem and is one of the main reasons why the TVL in Tinlake reached another ATH. I wonder where the TVL will be in a year from now if it continues to rise at the same rate?
@mark_hergen was nominated as the new facilitator for the Centrifuge Credit Group! One of his plans for the near-term is to formalize the strategy and setup of the Credit Group with the goal, to get a more objective and formalized risk-review for new pools on the Centrifuge protocol
Asad posted a proposal in the Aave forum as a temperature check to implement a new process for interested parties to be onboarded as a GHO facilitator. This proposal wants to start the process and covers the first one for facilitator onboarding
And more news from the community:
@0xfoobar: Real World Assets, Blockchains and Stablecoins
@Newbie_Cryptoz: Tokenised Real World Assets (RWA) - what are they?
@Polkadotters1: Introducing the bridge between TradFi and DeFi by tokenizing Real World Assets
Below is a quote which summarizes quite well why the community is an integral part of the ecosystem and is always covered in the monthly summary:
“Community is the relationship between those who are touched by the product and protocol”
Save the date:
Centrifuge Active Contributors Call #2 on April 12
Centrifuge governance call #16 on April 19
- I want to start the governance section with the Governance update March and three important proposals (POP-process, Founding docs of the DAO and the Mandate for the Protocol-Engineering-Group) which passed! Thanks to everyone who voted and participated.
By the time of writing this summary there are two important proposals open to be voted on: updating the Tinlake rewards allocation and the EVM compatibility for Centrifuge chain. As both proposals are important pieces for the future of the protocol:
Please actively participate in the governance process, leave your comments and remarks in the RFCs and vote on polls:exclamation:
- All proposals and snapshot votes are summarized in this overview by our governance facilitators.
- In the Centrifuge governance call #15, Ivan introduced the proposal for updating Tinlake rewards which started an interesting discussion with pros & cons at which rate rewards should be continued and as well the question arose: is the program outdated and should rewards be stopped? The program was launched to incentivize early investors with CFG-rewards and to bootstrap liquidity. Please chime in the thread and leave your thoughts and comments, especially when you are an investor on your own. Your voice counts!
As well Anna gave an introduction into the EVM compatibility for Centrifuge plus HydraDX talked about the next steps to open HRMP channels.
Last but not least, the Altair council has proposed to onboard the following 5 collators on the Altair network. Congrats to all the nominated collators and thanks for your support!
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
- After the most recent rehaul of the web appearance, the Centrifuge homepage has a new section for News to cover media articles and research reports!
- James from Defactor updated his Dune analytics dashboard and added BT4 from BlockTower. No wonder, the chart almost climbs through the roof? Give his tweet a like or re-tweet it if you are as impressed by his dashboard as I am!
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!