Upcoming UI Updates and Improved Transparency on Tinlake/Centrifuge Platforms

[sirj]

Upcoming UI Updates and Improved Transparency on Tinlake/Centrifuge Platforms

We would like to address some concerns regarding the current UI on the Tinlake/Centrifuge platform, particularly in relation to the accuracy of information provided about asset maturities and the need for improved transparency. We acknowledge that the existing UI may be misleading and not fully aligned with the loan types and structures of all pools on the platform. We want to assure you that we are actively working to fix and clarify the way maturities are displayed and enhance the user experience.

One of the key concerns raised by users and pool Issuers is the uniform representation of asset maturity across all pools. The current approach assumes a one-size-fits-all model, which is not suitable as we grow and mature but made sense when we started out with our initial MVP. Specifically, in the cases of REIF, Branch, and New Silver, the on-chain indication of an asset being “overdue” does not necessarily imply that the corresponding off-chain asset is overdue or in default. The maturity date of an asset holds different meanings for different pools, and it is essential to reflect this accurately on the UI. As can be seen in this forum post from New Silver and REIF.

New Silver: Update on New Silver Pool - Fix and Flip Loans Explained

@prankstr25

The New Silver 2 Pool is made up of individual construction loans, which typically contain an upfront loan for property or land purchase, plus reserves for construction. Loans are 12 to 24 months in maturity. We allow, with good reason, extensions of up to 6 months (and reserve the right, in rare circumstance, to offer an additional extension if its’ deemed appropriate for the situation). We have seen an uptick in extension requests in the recent months, mainly due to 2 reasons:

1. We often get extension requests for properties that are under contract to be bought, or ready to be refinanced, but need a little more time in order to complete the process, which is often taking longer than anticipated.
2. Less often, we get requests from borrowers who need more time to complete their construction work.

REIF: [Issuer] REIF: Commercial Real Estate Assets - #3 by BenAmesy

@BenAmesy

Our mortgages are 12 month terms, with an option to extend for a further 12 month term.

To address this challenge, we are committed to implementing changes in the upcoming UI release. Our goal is to provide users with more comprehensive information about what maturities signify within each specific pool. By doing so, we aim to ensure that the UI aligns with the nuances of different loan types, pool structure, and individual business model, thereby reducing confusion and enhancing clarity for all participants on the platform.

Furthermore, we are committed to enhancing asset-level transparency within the protocol. In line with our dedication to improving the Centrifuge platform, we are currently exploring the addition of more asset data from our issuers, an asset extension feature and the integration of an oracle that will enable us to track loan information and pricing more effectively for publicly priced assets. By doing so, we aim to provide users with real-time and accurate data on asset valuations, empowering them to make well-informed decisions. While we cannot guarantee the availability of these features at this time for current pools, we want to assure you that we are actively considering it as a valuable addition to the new and improved Centrifuge platform.

We appreciate your patience and understanding as we work towards these improvements. Your feedback and engagement are invaluable to us, and we remain committed to fostering an open and transparent environment within the Centrifuge community. Should you have any further questions or suggestions please discuss below. We are here to listen and collaborate with you.

Thank you for your continued support.