What can I currently do with the CFG token?

Community
1

Hi all,

(Please correct me if I’m wrong)

My understanding is that since Centrifuge has moved to a parachain, CFG staking is no longer a thing. And while there are proposals described in RFC: Additional CFG Token Utility for new token utility, none of them are live yet.

So as of right now, what can be done with the CFG token?

Thanks.

2

Hi @omnifient,

You are right, after the migration to parachain, staking ceased to exist (no longer required as the security of the chain is now provided by the Polkadot Relay Chain validators) - and the utilities that are being discussed here have not been implemented yet - first the pools need to launch on Centrifuge.

Right now, you can use your CFG tokens in the governance process (voting for the Council and in public referenda).

We always announce public referenda, when they are open for token holders to vote, in this section of the Forum.

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3

Thanks @Rhano
Do you know if there’s any ETA on the Token Utility Proposals #1 and #2?

4

There is no specific ETA, but the prerequisite is that pools need to launch on Centrifuge first, as I mentioned.

But they will launch on Altair first so the functionality can be tested, before being deployed on Centrifuge.

With the most recent Runtime Upgrade on Altair, pools were added and they are currently being tested before they are made available to the public.

5

ok, thanks :+1: :+1:

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