2023-October Centrifuge Monthly Summary

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2023-October Centrifuge Monthly Summary🎃

Welcome to our monthly summary of news, events and governance updates from the Centrifuge DAO for October! :ghost:

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Time flies and it’s time to give a recap of Q3 one of the most active and exciting months yet! But the Centrifuge DAO does not stop developing and improving with new marketing campaigns and governance proposals! More exciting news can be found in this newsletter!

Key Metrics

  • Total Value Locked (10/31/23): $248.82M
  • Total Active Loans: $$247M
  • Total Assets Originated: $471M
  • Token Holders: 47,221 Wallets

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. :rocket:

October highlights include:

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.

  • Centrifuge Q3: A recap! :heart::fire: Some reasons why Q3 was one of the most exciting quarters for Centrifuge ever:
    • Liquidity Pools: Ethereum & L2s bridging to Centrifuge
    • The Real-World Asset Summit
    • The Tokenized Asset Coalition
    • Building the infrastructure powering RWAs in DeFi
  • TradFi and DeFi - Friend or Foe? The Fixing Finance campaign strives to merge the best of both (financial) worlds while educating newcomers at the same time. If you are not sure, whether you are a Hoodie or a Suit you should definitely take the quiz to find out!
  • More news from marketing: Centrifuge Conversations podcasts (audio-only versions of DeFi Drip and Tokenize That) are available now to listen on the go!
  • Very good reflections on the past and future of Real-World Assets and the role Centrifuge already played and will further play by Sébastien and Mark from Steakhouse Financial.:clap:
  • A new Issuer Introduction posted earlier this month by PennyWorks, which is a financial platform to make it easier for traditional investors to invest in DeFi.
  • The monthly summary of news, events and governance updates from the Centrifuge DAO is now available on Mirror 🕮
  • Centrifuge Unlocked - Real World Assets to Polkadot! KryptosChain discusses with Lucas Real world assets, Defi and everything Centrifuge is bringing to Polkadot! :studio_microphone:

:Twitter:More news from the community:
0xAndrewMoh: Narratives driving mass adoption. The chosen trend for the next bull

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@JamesT0lan: Centrifuge crosses $463.6M in real-world assets financed

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https://twitter.com/CryptoVietInfo/status/1708799054661247294
https://twitter.com/bella_rwa/status/1709329016204021919
https://twitter.com/andreas_seppy/status/1718563483065663594
https://en.rattibha.com/thread/1714557626082873542

Save the date(s): :date:

Blockworks Webinars: Decoding Real World Assets on November 2 :studio_microphone:
Bridging Real-World Assets to Arbitrum on November 13 :studio_microphone:
Centrifuge Governance Call #22 on November 15 :classical_building:

Governance

  • Let’s start as usual with the Governance update October for an overview, provided by the GCG. The most important proposal which passed is the update of the Transaction fees for Pools which is a milestone for the self-sustainability of the protocol and it further extends the token utility!
  • The Centrifuge governance call #21 covered the remaining topics from last month with the Introduction of Harvey aka. Yieldkollektor as the new facilitator for the Centrifuge Credit Group, a deepdive into the Token Revenue Model and an Update on the Transaction fees for Pools (see above).
  • After giving a brief intro to their liquidity platform in September, Arf Financial submitted a POP for their Arf Variable Interest Notes to be onboarded as a Pool on Centrifuge chain! The submission is open for comments until it moves to the next phase of the POP-process.

:exclamation::exclamation:A reminder: Please actively participate in the governance process, leave your comments and remarks in the RFCs and vote on open proposals​:exclamation::exclamation: :ballot_box::writing_hand:

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

  • A new Ethereum Improvement Proposal (EIP-7540), co-authored by CTO Jeroen and Alina, raised some excitement in the community: the proposal aims to extend the existing ERC-4626 standard for tokenized vaults.:clap:
  • Code4Arena conducted a Smart contract audit and analysis for Centrifuge last month and the Findings & Analysis Report was published recently.:lady_beetle:
  • As part of our security efforts leading up to launch, Cantina.xyz has completed and published their final audit of Liquidity Pools.
  • Pool updates: ConsolFreight gave a Legal proceedings update as a consequence on their CF4-pool and although not an issuer (yet), another update & thoughts on the Housing market given by Will from UrbanGate for October 2023.

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

What are your thoughts and 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!

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I sincerely hope you can keep us updated on the problematic pools, like 1754, in the monthly reports. This way, we, the investors, can stay informed about the progress. We’re completely in the dark about what’s actually happening, and it’s quite frustrating.

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Incredible roundup (yet again), Christian! :clap: :clap: :clap:

I just read through it now, but I know I’ll be circling back tomorrow morning when I have more time to start clicking links and really digging in :star_struck:

Thanks for all that you do and have a wonderful weekend, @Tjure07 :man_bowing:

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The MIRROR-hosted version was just published!

Get your Centrifuge-related info more efficiently,
Subscribe to get these directly to your email!

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Fully agree! Indeed, it is very frustrating to see how the team plays down the issue and remains silent about 1754 etc. It is pointless to talk about volume of RWAs if pools are in default and loans are not being repaid. How can the team be trusted if it doesn’t care about their supporters and OG investors when they are in trouble?!

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Indeed, I’ve tried various ways to contact the relevant people, but haven’t received any response in half a year. I know it might sound foolish now, but I essentially put almost all of my savings from two years ago into the branch series 3. Last year, I was even glad because I kept my funds in Centrifuge, avoiding the storm of FTX. But now, it seems I’ve just fallen into a worse quagmire than FTX. Although things look bleak, I still maintain a glimmer of hope.

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Sorry to hear that, mate…Hope things will change for you soon.

If only some communication channel from team would be opened, but unfortunately the communication about this serious issue is literally nonexistent.

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