My question is why I cannot see any pools on the Centrifuge chain.
Please understand if my question is silly and I’m pretty new to Centrifuge and trying to understand its architecture.
In my understanding, Centrifuge is leveraging three different chains:
Centrifuge chain (Polkadot parachain)
In the beginning, the Tinlake dApp is developed to implement the Centrifuge protocol.
It is a bundle of the Ethereum Smart Contracts running on Ethereum.
Every pool in Centrifuge at the time of writing is on Ethereum.
Centrifuge chain is devised to overcome the limitations of Ethereum such as low transaction speed and high transaction fee. It is a PoS blockchain. It had been developed on Substrate first but it has been migrated to Polkadot Parachain in 2022. The CFG is a native token of the Centrifuge chain. The CFG token can be used for transaction fee, on-chain governance, and security.
Altair is a parachain in Kusama, which is a kind of sibling of Polkdadot, for battle tests before a new feature is applied to the Centrifuge parachain mainnet.
In Centrifuge App, I cannot see any pools on the Centrifuge main chain.
They require me to connect wallet of Ethereum and deposit DAI, which is a stablecoin from MakerDAO in Ethereum.
Did I miss something?
Please correct me if I’m wrong.
You are correct, there are no pools live yet. But the first POP was submitted by Kirill of New Silver to go live on Centrifuge Chain: POP: New Silver NS3 This will, if it passes, probably be the first pool to go live very soon!
New Silver was the first issuer to finance RWAs through Centrifuge and the first to back DAI with RWAs through Maker back in 2021. They are integrated directly with a Maker vault which means that they can lock up their tokenized assets, mint DAI and use it to finance new loans. In July, New Silver made a proposal on Maker, that passed, to increase their debt ceiling. Hear @prankstr25 talk about the proposal and what it means for both New Silver and Centrifuge going forward.
So if you have any questions or you would like to dive deep into the Onboarding process feel free to join Centrifuge Governance Call.
Thanks for the introduction of the governance call.
And the agenda in this call seems pretty interesting and I will participate in the call if possible (because it will be at 1:00 am in my location)
Through the content you shared in the comment, I think I’m able to become more acquainted with the Centrifuge protocol and understand it better.
The asset originator, such as New Silver, creates DROP tokens through the tokenization of their assets. These minted DROP tokens can then serve as collateral, enabling the asset originator to generate DAI by leveraging a MakerDAO Vault.
In the Tinlake app, I could see some information related to Maker Vault such as the debt ceiling and stability fee. However, I could not find it in Centrifuge App. Does there exist reasons for this?