CP151: New simplified onboarding to build on Centrifuge

Centrifuge Governance Proposals
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cp: 151
title: New simplified onboarding to build on Centrifuge
author: @rhano, @imdior
contributors: @martin, @jeroen, @joncasterline
uses-component: CP4
technical-proposal: no
requires-onchain: no
impacts/modifies: CP5, CP28,CP74
status: rfc
date-proposed: 2025-03-24
date-ended:

Short Summary

Streamline the process of launching a pool on Centrifuge (CP5 component) and set a flat protocol fee for all pools.

High-Level Objective

The primary objective of this proposal is to simplify and streamline the Pool Onboarding Process (POP) for the Centrifuge Protocol. By making the process more permissionless and simplifying and aligning the protocol’s fee structure, we aim to lower the barriers to entry for issuers, making Centrifuge the de facto technology provider for self-service fund tokenization.

Background

Over the past few years, the Pool Onboarding Process (POP) has undergone numerous modifications and changes, such as CP5, CP63, and CP68 and more. In our opinion, overall, the onboarding process is still overly complex, centralized, and inaccessible for many potential users. The fee structure and onboarding process is excessively confusing, which deters issuers from utilizing Centrifuge Protocol technology as a service provider.

This proposal aims to modify the Pool Onboarding Process with a simpler, more permissionless version, where issuers can onboard and launch in a self-managed manner. We suggest a simple flat protocol fee for all offerings.

Description of Activity

POP

We propose to revise the Pool Onboarding Process (POP) by modifying the CP5 component to make it more permissionless. Finally, any issuer should be able to launch a pool. However, during the initial rollout of the V3 protocol, launching pools should be permissioned by using the standard governance process (offchain governance vote). The goal is to make it permissionless in Q4 2025. Once permissionless, an offchain governance vote is required to show pools in the UI of the Centrifuge dApp.

Until Centrifuge V3 is launched, the onchain council is mandated to launch new pools, with a threshold of 1/2.

Protocol Fees

The current protocol fees are defined in CP28 and were later modified by CP83 - after different pool types were introduced - where the protocol fees were defined based on the pool type. This proposal, if passed, will modify CP28 again and introduce a flat protocol fee of 50 bps for all types of pools.

If an issuer or token holders want to change this protocol fee, it has to go through governance and a vote. A proposal to change a pool’s protocol fees must be created using the CP4 component.

Fees will be paid in the assets the pool is denominated in. The fee will go to the onchain treasury and the DAO can decide what to do with it.

Change or Improvement

If this proposal passes, it will

  • Simplify and automate the process of launching a pool on Centrifuge and lower the barriers to entry, making Centrifuge more accessible for potential issuers.
  • Deprecate CP74
  • Modify CP5, CP28
  • Set a flat protocol fee of 50 bps for all types of pools

Alignment to the mission of Centrifuge DAO

By making the Pool Onboarding Process and pool creation permissionless, we are accelerating the adoption of Real-World Asset tokenization by reducing friction for issuers. This aligns directly with our mission to ‘Bring the world of credit onchain’ by enabling a broader range of participants to access decentralized credit markets, fostering greater liquidity, and driving real-world asset adoption at scale.

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