Databased Finance DF1 Update 06-23

Hello Centrifuge Community!!

Short Update Follows:

The Databased Finance 1 (DF1) is currently returning

10%+ Yield on Pool as a whole

8% Yield on Drop

In the past few months, there have been large withdrawals from our pool as FTX has caused our funders to raid their safer piggy banks (our token has held its price with zero defaults). To return these funds, we have required our Amazon sellers to repurchase inventory and pay back capital.

All repurchases have now been successfully executed in order to fulfill redemptions with zero defaults.

If your Drop was part of the redemption, then thank you for the support to date, and we look forward to you coming back to Databased Finance. If you stayed in the pool, then thank you for your continued support.

One seller chose to close out our financing completely - this means there is currently (June 5th 2023) spare DAI in the reserve if you would like to cash in on your returns or make a withdrawal.

The Smart contract will allocate these returns when we close the epoch.

For the remainder of the pool the projected end sales value of our inventory (both Net and Gross) remains above the purchased price we paid i.e. your funding is still over-collateralized in our remaining NFTs (57 and 58).

Administration: Given the drop in value of the pool size we have consolidated all operations into Databased Finance Inc - all new contracts will now be with this entity, and it has taken on the commitments made by Databased Finance LTD to both sellers and funders.

Finally. We are working with Centrifuge to bring a DF2 to life: based in USDC and on the CFG Polkadot chain. We look forward to introducing this to the community soon!


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Thanks for the update, Stuart! It’s always good for the community to be in constant exchange with the Asset Originators

Awesome news! Do you have an expected timeline when this pool is going to launch on Centrifuge chain?

Hi Christian, Centrifuge are constrained by the availability of USDC on Polkadot (which Circle tells us is soon) . We may have to start the pool by receiving USDC deposits directly and issuing promissory notes to funders and then move on-chain when available. if you are interested in being a funder then you can email for more info / KYC about sophisticated investor requirements of Reg D.

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“there is currently (June 5th 2023) spare DAI in the reserve if you would like to cash in on your returns or make a withdrawal.”

The epoch was closed on Wed June 14th. There will be more liquidity from quarterly yield payments as and when made by our sellers.