Poll: Formation of Credit Group

Hi Centrifuge Community,

I’m Mike, the Founder of DeFi Capital Markets (“DCM”), an entity focused on building the future of decentralized capital markets by onboarding institutional investors, assets and infrastructure to the DeFi ecosystem. Previously I was a core member of the Centrifuge team and we at DCM are currently contributing to the Centrifuge, RWA Market (Aave) and MakerDAO ecosystems. The current, and future, employees are largely from institutional investment and credit backgrounds.

I am proposing a CFG token holder vote on the formation of a Credit Group to analyze and risk assess Centrifuge real-world asset pools. The purpose of this group is to provide risk analysis for the onboarding of Centrifuge pools, playing a key role in the proposed POP process (Centrifuge pool onboarding proposal). The intention of this group is to provide the Centrifuge community with critical knowledge and guidance they need to make decisions around onboarding new real-world asset collateral. Ultimately the group would aim to give a view on various financial and business aspects of a proposed pool that would culminate in a reproducible risk assessment report provided to the community. This group will also act to enhance the decentralization of the Centrifuge protocol.

Real-world assets are an emerging asset class in the Web3 space that is not familiar or intuitive to many current DeFi participants. To that end, the establishment of a Credit Group would aim to build trust in the quality of Centrifuge asset pools through education, knowledge sharing and thorough risk assessing, both for our community and externally with our DeFi partners. We at DCM want all involved to feel empowered and comfortable when onboarding real-world asset pools, providing guidance they need to make informed decisions.

The Credit Group would function to perform credit work and seek to support the community through:

  • Providing independent analysis and research to provide thorough risk assessment on the underlying collateral of proposed pools

  • Providing a view on the structure and pricing of real-world asset pools

  • Highlighting potential risks

  • Discussing market trends for the underlying asset class

  • Presenting information in a digestible and actionable manner

  • The relevant members will provide this guidance, along with their relevant qualifications, to the community to facilitate decisions

Credit Group formation

I would suggest that members of the Credit Group work on an ad-hoc basis for a minimum term of 6 months, with the ability for membership positions to be renewed subject to approval via governance. Applications are open and can be submitted as set out below.

Given the levels of expertise required, I would propose members receive $100-500/hr in the form of a treasury grant subject to governance approval. Payment could be based on success metrics (level of participation, number of reviews completed, etc).

I would estimate that the starting budget could initially be roughly $12,500 per quarter - this covers 5 members (to start) working 40 hours at an average of $250 per hour, along with a small contingency budget for additional expenses. Member compensation could be based on the specific skills provided so individual members may earn more or less than $250 per hour.

Do you agree on the formation of the Credit Group?

  • Yes

  • No (please comment on what you’d like to see instead)

0 voters

Do you agree on a starting budget of roughly $12,500 for 3 months - this covers 5 members (to start) working 40 hours at an average of $250 per hour?

  • Yes

  • No (please comment on what you’d like to see instead)

0 voters

Participating in the Credit Group

I propose that through this vote we elect a leader for forming the Credit Group, organizing its efforts, and creating a reproducible framework that can be recycled and easily understood. That end, I propose that DeFi Capital Markets (led by myself) occupy that role for 6 months. I am intimately familiar with the Centrifuge protocol, pools, community etc and really believe I can help drive this forward!

Do you agree with DeFi Capital Markets being elected the first leader of the group for forming the Credit Group, organizing its efforts, and creating a reproducible framework for 6 months

  • Yes

  • No (please comment on what you’d like to see instead)

0 voters

Ideally the remainder of the Credit Group would be composed of experts from various professional institutional investors, credit analysts as well as experts with knowledge of specific asset classes. The focus at the moment is on SME structured credit. If you are interested in being a Member of the Credit Group or would like to nominate someone to be, please reply to this thread with basic info, including:

  • Describe your/the expert’s interest in the Centrifuge ecosystem?

  • Describe your/the expert’s involvement in credit?

  • What skills/experience do you/they bring?

  • Can you commit a couple hours a week?

These polls run for 3 days until 2022-05-02T00:00:00.000Z. Should the voting turnout be a clear result the council should proceed to propose a motion for a democracy vote.


Love to see this coming to fruition! Feels like a big step in moving towards decentralisation: team members who understand Centrifuge intimately spinning up adjacent organisations that compliment and build upon Centrifuge’s work. Let’s go.

This Group will be so valuable if turn out and will help in development of robust framework and inch Centrifuge closer towards step of its mission and hence vision.

1 Like

Absolutely agree. Although the group is still in the process of making everyone @OgTheKingOfBashan @hardik who has the skills and interest should think about applying for it :slight_smile:

Hi teal, let me please briefly answer to your questions below. In the case you are interested in my contribution I could send you more detailed information regarding my knowledge and experience.

  • Describe your/the expert’s interest in the Centrifuge ecosystem?
    I’m a crypto enthusiast and believer in de-fi especially in the tokenisation of the real assets for the deployment of new value
  • Describe your/the expert’s involvement in credit?
    I’ve been founder and manager of my own company (up to 10 employees). In this experience I’ve also managed the financial flows and credit capitals needed to the deployment of the activities.
  • What skills/experience do you/they bring?
    I’m PhD in the polymer materials engineering field and I’ve been working in the paint and acrylic business for over 17 years
  • Can you commit a couple hours a week?

Have a good day.


Might be just semantics, but I would suggest calling it the DFCM instead of DCM.
In TradFi, particularly at investment banks, DCM is typically understood to be “Debt Capital Markets” (as opposed to “Equity Capital Markets”).

1 Like

I second this idea of renaming the group because semantics are important

Good stuff. I like this proposal. It will definitely benefit and aid the project as a whole.

Hear! Hear!

1 Like

Dear CFG team, I would like to express my interest in being a member of the Credit Group. Please see my answers to your questions below.

  • Describe your/the expert’s interest in the Centrifuge ecosystem?
    I am interested in the Centrifuge ecosystem as I view decentralization as the most appropriate approach to solve the broken model of debt financing for the underserved and opening new investment opportunities that today are otherwise reserved for only a few (those privileged to be part of the world of “high finance”). The key is that underwriting credit risk effectively is more economically viable in decentralized system than in the one where risk assessment is done by a rent-seeking intermediary.
  • Describe your/the expert’s involvement in credit?
    My background is in structured lending in a bulge bracket investment bank. For the last 5 years I have been working in fintech SME lending space in charge of credit risk (Director level). I have expertise across both regular lines of credit, as well as invoice financing/factoring. I am a CFA Charterholder and hold masters and BA degrees in the field of finance and economics.
  • What skills/experience do you/they bring?
  • structuring
  • structuring/navigating deal/legal documentation from credit and commercial perspective
  • fundamental financial and credit analysis
  • deal negotiation and ability to effectively interact and work with lawyers
  • Can you commit a couple hours a week?

Hey @J.B thanks for the interest - have put together a simple Google form for applications. Mind submitting through that:

1 Like

@luca.prezzi thanks for the interest - mind using the Google form posted above. Thanks!

Thanks for the comment @JeremyKim, but DeFi Capital Markets ltd is actually the name of my entity not the Credit Group proposed here. I am aware of the abbreviation, but think its ok here as its a private company.

I look forward to your application to join the group given your background :wink:

1 Like

Hi @thespaceacatjr, I tried accessing the form but it says I need your permission to access this form. Can you please open access rights for me? Will be grateful for any assistance here.

Seems fine to me - wondering why the proposed budget is only for the first 3 months when the other parts of the plan proposal seem to be for 6 months.

I see that you’re collecting information from people interested in joining the group in a google form - are we expecting that people on the forum will have a say in who is selected to join, or that you will decide?
Is there a proposed criteria for how the membership will be decided?

Thanks for the comments @zerocool

Yeah seems to be a mismatch, my fault. I think 3 months from a money perspective is a good start to see where it get’s us.

Google Form is fixed! Nice spot. I think for the start I will decide and will make the decisions on selected candidates public. I will also privately contact members we don’t go forward with and give them feedback.

1 Like

Hello Centrifuge team. Can you please update what is the status on the creation of the Credit Group? I understand that the poll and already closed. Also, those who applied to join the Credit Group, when can they expect to hear back whether they were selected or not? Will be grateful for any info you could offer.

Hi J.B. After the poll an on-chain referendum to vote will be initiated. This will happen soon. Everyone who applied for the credit group - whether taken into consideration for the credit group or not - will receive a feedback on their application.

Thank you for the update.

Hello Centrifuge Team and Community. Can you kindly update when an on-chain referendum to vote will be initiated on this? What is the time line to arrive at the final decision on Credit Team and its members? Will be grateful for any update on this.

Hi J.B

Thanks for the reminder. The process is in the works and the referendum will be online hopefully soon