Difference between revisions of "Centrifuge (CFG)"

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* [https://thedefiant.substack.com/p/real-world-assets-are-coming-to-defi?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo5MTIzNzMsIl8iOiIwb3pkOCIsImlhdCI6MTU5ODgxMTU0OCwiZXhwIjoxNTk4ODE1MTQ4LCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.OsBbKN02RtzWLUrZbPxIq7ieqHAHh0NkR5hIfwaC6aU From] [[The Defiant]] (28-8-2020):
* [https://thedefiant.substack.com/p/real-world-assets-are-coming-to-defi?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo5MTIzNzMsIl8iOiIwb3pkOCIsImlhdCI6MTU5ODgxMTU0OCwiZXhwIjoxNTk4ODE1MTQ4LCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.OsBbKN02RtzWLUrZbPxIq7ieqHAHh0NkR5hIfwaC6aU From] [[The Defiant]] (28-8-2020):
"''Centrifuge lets businesses get the money that they need to run, without using a bank. We created an open place that anyone can use to lock up assets (ex. a house or an invoice) to get a loan."''
"''Centrifuge lets businesses get the money that they need to run, without using a bank. We created an open place that anyone can use to lock up assets (ex. a house or an invoice) to get a loan."''
* From their [https://medium.com/centrifuge/introducing-decentralized-asset-finance-onboarding-the-world-to-defi-f400ad906546 announcement] (26-5-2020):
''"[https://centrifuge.io/products/chain Centrifuge Chain] is our [[Open-source|open]] and [[permissionless]] [[Proof-of-Stake]] [[blockchain]] built on [[Substrate]]. This is the starting point for originating real-world assets. It enables users to bring their assets [[on-chain]] as non-[[fungible]] tokens ([[NFTs]]). NFTs are easily bridged to [[Ethereum]] from day one. The chain is powered by the Radial token, which empowers its holder with [[governance]] and provides the incentive for validators to operate it. We are proud to launch with over 10 validators securing our chain.''
''With Centrifuge Chain and Tinlake, any business can now originate their real-world asset on-chain and access liquidity through Centrifuge."''
== History ==
== History ==
== Token ==
== Token ==
Line 17: Line 12:
=== Utility ===
=== Utility ===
* [https://thedefiant.substack.com/p/real-world-assets-are-coming-to-defi?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo5MTIzNzMsIl8iOiIwb3pkOCIsImlhdCI6MTU5ODgxMTU0OCwiZXhwIjoxNTk4ODE1MTQ4LCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.OsBbKN02RtzWLUrZbPxIq7ieqHAHh0NkR5hIfwaC6aU From] [[The Defiant]] (28-8-2020):
* [https://thedefiant.substack.com/p/real-world-assets-are-coming-to-defi?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo5MTIzNzMsIl8iOiIwb3pkOCIsImlhdCI6MTU5ODgxMTU0OCwiZXhwIjoxNTk4ODE1MTQ4LCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.OsBbKN02RtzWLUrZbPxIq7ieqHAHh0NkR5hIfwaC6aU From] [[The Defiant]] (28-8-2020):
"''The Radial (RAD) token directly empowers users to operate, control, and gain value from the system. RAD functions differently and is used for both standard network functions such as chain security and transaction fees, as well as Centrifuge-specific utility, including [[On-Chain Governance|on-chain governance]] and rewards to incentivize users to provide liquidity to Tinlake pools."''
"''The Radial (RAD) token directly empowers users to operate, control, and gain value from the system. RAD functions differently and is used for both standard network functions such as chain security and [[transaction]] [[fees]], as well as Centrifuge-specific utility, including [[On-Chain Governance|on-chain governance]] and rewards to incentivize users to provide liquidity to Tinlake pools."''
* [https://thedefiant.substack.com/p/defi-hackathon-might-produce-next?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo0ODk2ODAsIl8iOiJtSlA2dyIsImlhdCI6MTU5MTQzMzc3MiwiZXhwIjoxNTkxNDM3MzcyLCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.aV6-CLKcjdM3q94pHJ30vywq_3YrA7j7H9iViNLfCVc From] [[The Defiant]] (27-5-2020):
* [https://thedefiant.substack.com/p/defi-hackathon-might-produce-next?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo0ODk2ODAsIl8iOiJtSlA2dyIsImlhdCI6MTU5MTQzMzc3MiwiZXhwIjoxNTkxNDM3MzcyLCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.aV6-CLKcjdM3q94pHJ30vywq_3YrA7j7H9iViNLfCVc From] [[The Defiant]] (27-5-2020):
"''NFTs representing real-world assets are pooled together. Next, two sets of [[ERC20 tokens]] are issued against them, TIN and DROP. TIN takes the risk of default first but also receives higher returns. DROP is protected against defaults by the TIN token and receives stable and usually lower returns. Investors can purchase TIN and DROP tokens with [[Dai]] or [[USDC]]. The user who put up the collateral takes the stablecoins used to buy TIN and DROP as a loan. TIN and DROP holders receive interest asset holders pay for their loan."''
"''NFTs representing real-world assets are pooled together. Next, two sets of [[ERC20 tokens]] are issued against them, TIN and DROP. TIN takes the risk of default first but also receives higher returns. DROP is protected against defaults by the TIN token and receives stable and usually lower returns. Investors can purchase TIN and DROP tokens with [[Dai]] or [[USDC]]. The user who put up the collateral takes the [[stablecoins]] used to buy TIN and DROP as a loan. TIN and DROP holders receive interest asset holders pay for their loan."''


=== Token Details ===
=== Token Details ===
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* [[Whitepaper]] can be found [insert here].
* [[Whitepaper]] can be found [insert here].
* Code can be viewed [insert here].
* Code can be viewed [insert here].
* Built on: [[Substrate]]
* Built on: [[Substrate]] parachain
* Programming language used:
* Programming language used:
=== Transaction Details ===
=== Transaction Details ===
Line 36: Line 31:
=== How it works ===
=== How it works ===
* [https://thedefiant.substack.com/p/defi-hackathon-might-produce-next?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo0ODk2ODAsIl8iOiJtSlA2dyIsImlhdCI6MTU5MTQzMzc3MiwiZXhwIjoxNTkxNDM3MzcyLCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.aV6-CLKcjdM3q94pHJ30vywq_3YrA7j7H9iViNLfCVc From] [[The Defiant]] (27-5-2020):
* [https://thedefiant.substack.com/p/defi-hackathon-might-produce-next?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo0ODk2ODAsIl8iOiJtSlA2dyIsImlhdCI6MTU5MTQzMzc3MiwiZXhwIjoxNTkxNDM3MzcyLCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.aV6-CLKcjdM3q94pHJ30vywq_3YrA7j7H9iViNLfCVc From] [[The Defiant]] (27-5-2020):
''"The system enables users to tokenize real-world assets in the form of non-fungible tokens ([[NFT]]s), which they can then use as collateral to take out loans. Meanwhile, investors can buy tokens representing this collateral and expect returns that are less correlated with cryptocurrencies than most or all other assets in DeFi.''
''"The system enables users to tokenize real-world assets in the form of non-fungible tokens ([[NFT]]s), which they can then use as collateral to take out loans. Meanwhile, investors can buy tokens representing this collateral and expect returns that are less correlated with cryptocurrencies than most or all other assets in [[Defi|DeFi]].''


''Centrifuge has two parts: Centrifuge Chain and Tinlake. Centrifuge Chain is a [[proof-of-stake]] blockchain built with [[Parity]] Technologies’ [[Substrate]] framework, which is where assets are tokenized. It had 10 validators at launch. Tinlake is an [[open source]] [[Ethereum]] app which enables the creation of asset pools for users to borrow against and invest in.''
''Centrifuge has two parts: Centrifuge Chain and Tinlake. Centrifuge Chain is a [[proof-of-stake]] blockchain built with [[Parity]] Technologies’ [[Substrate]] [[framework]], which is where assets are [[tokenized]]. It had 10 validators at launch. Tinlake is an [[open source]] [[Ethereum]] app which enables the creation of asset pools for users to borrow against and invest in.''


''Centrifuge submitted two MIP6 applications for [[MakerDAO]] to include asset pools as collateral for Dai. MakerDAO opened up Dai to different types of collateral to make sure there’s enough liquidity to back the stablecoin. It has already included trusted assets like USDC and [[WBTC|wBCT]] as collateral, and tokenized real-world could very well come next."'' 
''Centrifuge submitted two MIP6 applications for [[MakerDAO]] to include asset pools as collateral for Dai. MakerDAO opened up Dai to different types of collateral to make sure there’s enough liquidity to back the [[stablecoin]]. It has already included trusted assets like USDC and [[WBTC|wBCT]] as collateral, and tokenized real-world could very well come next."'' 


=== Fees ===
=== Upgrades ===
=== Staking ===
=== Staking ===
=== Liquidity Mining ===
===Liquidity Mining ===
=== Layer Two ===
=== Scaling ===
=== Different Implementations ===
=== Different Implementations ===
=== Interoperability ===
=== Interoperability ===
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=== Other Details ===
=== Other Details ===
== Privacy Method being used ==
== Oracle Method ==
== Oracle Method being used ==
== Their Other Projects ==
== Their Other Projects ==


=== Tinlake ===
=== Tinlake ===
* From their [https://medium.com/centrifuge/introducing-decentralized-asset-finance-onboarding-the-world-to-defi-f400ad906546 announcement] (26-5-2020):
* From their [https://medium.com/centrifuge/introducing-decentralized-asset-finance-onboarding-the-world-to-defi-f400ad906546 announcement] (26-5-2020):
"''[https://centrifuge.io/products/tinlake Tinlake] is our securitization Dapp on Ethereum which lets investors and borrowers finance their own asset pools. Tinlake’s smart contracts are open source and integrate easily into the DeFi ecosystem. Tinlake uses Centrifuge Chain to originate individual non-fungible assets used as collateral for loans."''
"''[https://centrifuge.io/products/tinlake Tinlake] is our securitization [[DApp|Dapp]] on Ethereum which lets investors and borrowers finance their own asset pools. Tinlake’s smart [[contracts]] are open source and integrate easily into the DeFi ecosystem. Tinlake uses Centrifuge Chain to originate individual non-fungible assets used as collateral for loans."''


*[https://www.coindesk.com/maker-price-makerdao-real-world-assets-defi From] [[CoinDesk]] (23-4-2021):
*[https://www.coindesk.com/maker-price-makerdao-real-world-assets-defi From] [[CoinDesk]] (23-4-2021):


''""Real world" assets have entered DeFi, as the [[Maker DAO|Maker]] protocol reportedly just minted $38,000 of dai stablecoins to finance a mortgage loan. The proposal, passed April 14 and executed two days later, allows the Tinlake blockchain protocol to serve as a [https://developer.centrifuge.io/tinlake/overview/introduction/ bridge] between [https://forum.makerdao.com/t/ns-drop-mip6-application-new-silver-drop-real-estate-backed-loans/3477 New Silver], a real estate loan company, and MakerDAO. Two tranches of interest-bearing tokens will be issued under the Ethereum blockchain’s ERC-20 token standard – DROP and TIN – against non-fungible tokens ([[Non Fungible Tokens (NFTs)|NFTs]]) based on individual deposits from New Silver."''
''""Real world" assets have entered DeFi, as the [[Maker DAO|Maker]] protocol reportedly just minted $38,000 of dai stablecoins to finance a mortgage loan. The proposal, passed April 14 and executed two days later, allows the Tinlake blockchain protocol to serve as a [https://developer.centrifuge.io/tinlake/overview/introduction/ bridge] between [https://forum.makerdao.com/t/ns-drop-mip6-application-new-silver-drop-real-estate-backed-loans/3477 New Silver], a real estate loan company, and MakerDAO. Two tranches of interest-bearing tokens will be issued under the Ethereum blockchain’s [[ERC-20]] token standard – DROP and TIN – against non-fungible tokens ([[Non Fungible Tokens (NFTs)|NFTs]]) based on individual deposits from New Silver."''


=== DEX ===
=== DEX ===
== Governance ==
== Governance ==
=== DAO ===
=== DAO ===
== Upgrades ==
== Roadmap ==
== Roadmap ==
* Can be found [Insert link here].
* Can be found [Insert link here].
Line 83: Line 78:
=== Cons ===
=== Cons ===
== Competition ==
== Competition ==
== Coin Distribution ==
== Team, Funding, Partners ==
== Team, Funding, Partnerships, etc. ==
=== Team ===
=== Team ===
* Full team can be found [here].
* Full team can be found [here].
=== Funding ===
=== Funding ===


=== Partners ===
* [https://twitter.com/TheBlock__/status/1587766382363643905 Raised $4M] (2-11-2022) from [[Coinbase (COIN)|Coinbase Ventures]], [[BlockTower Capital]], [[Scytale]], [[L1 Digital]]
 
=== Partners===
 
* [[Acala (ACA)|Acala's]] [https://medium.com/acalanetwork/polkadot-parachains-and-venture-funds-team-up-to-launch-250-million-ausd-ecosystem-fund-to-grow-1592f925799a aUSD Ecosystem Fund]; one of the founding parachains to grow the [[Acala]] [[Stablecoins|stablecoin]] (23-3-2022)
 
[[Category:Companies/Organisations]]
[[Category:Companies/Organisations]]

Latest revision as of 02:45, 19 December 2022

 Basics

"Centrifuge lets businesses get the money that they need to run, without using a bank. We created an open place that anyone can use to lock up assets (ex. a house or an invoice) to get a loan."

History

Token

Launch

Token allocation

Utility

"The Radial (RAD) token directly empowers users to operate, control, and gain value from the system. RAD functions differently and is used for both standard network functions such as chain security and transaction fees, as well as Centrifuge-specific utility, including on-chain governance and rewards to incentivize users to provide liquidity to Tinlake pools."

"NFTs representing real-world assets are pooled together. Next, two sets of ERC20 tokens are issued against them, TIN and DROP. TIN takes the risk of default first but also receives higher returns. DROP is protected against defaults by the TIN token and receives stable and usually lower returns. Investors can purchase TIN and DROP tokens with Dai or USDC. The user who put up the collateral takes the stablecoins used to buy TIN and DROP as a loan. TIN and DROP holders receive interest asset holders pay for their loan."

Token Details

Stablecoin

"DROP and TIN are the ERC20 tokens Tinlake issues against a loan portfolio. These tokens are stable, backed by the individual loans, but also interest-bearing: this creates a new way to stake in DeFi"

Tech

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].
  • Built on: Substrate parachain
  • Programming language used:

Transaction Details

How it works

"The system enables users to tokenize real-world assets in the form of non-fungible tokens (NFTs), which they can then use as collateral to take out loans. Meanwhile, investors can buy tokens representing this collateral and expect returns that are less correlated with cryptocurrencies than most or all other assets in DeFi.

Centrifuge has two parts: Centrifuge Chain and Tinlake. Centrifuge Chain is a proof-of-stake blockchain built with Parity Technologies’ Substrate framework, which is where assets are tokenized. It had 10 validators at launch. Tinlake is an open source Ethereum app which enables the creation of asset pools for users to borrow against and invest in.

Centrifuge submitted two MIP6 applications for MakerDAO to include asset pools as collateral for Dai. MakerDAO opened up Dai to different types of collateral to make sure there’s enough liquidity to back the stablecoin. It has already included trusted assets like USDC and wBCT as collateral, and tokenized real-world could very well come next." 

Fees

Upgrades

Staking

Liquidity Mining

Scaling

Different Implementations

Interoperability

"Centrifuge Chain enables users to bring their assets on-chain as non-fungible tokens (NFTs). NFTs are easily bridged to Ethereum from day one. This enables businesses to put up these NFTs as collateral in Tinlake pools, our asset-backed financing Dapp on Ethereum."

Other Details 

Oracle Method

Their Other Projects

Tinlake

"Tinlake is our securitization Dapp on Ethereum which lets investors and borrowers finance their own asset pools. Tinlake’s smart contracts are open source and integrate easily into the DeFi ecosystem. Tinlake uses Centrifuge Chain to originate individual non-fungible assets used as collateral for loans."

""Real world" assets have entered DeFi, as the Maker protocol reportedly just minted $38,000 of dai stablecoins to finance a mortgage loan. The proposal, passed April 14 and executed two days later, allows the Tinlake blockchain protocol to serve as a bridge between New Silver, a real estate loan company, and MakerDAO. Two tranches of interest-bearing tokens will be issued under the Ethereum blockchain’s ERC-20 token standard – DROP and TIN – against non-fungible tokens (NFTs) based on individual deposits from New Silver."

DEX

Governance

DAO

Roadmap

  • Can be found [Insert link here].

Audits

Bugs

Usage

Projects that use or built on it

"ConsolFreight funded 49 freight invoices so far totaling 278k Dai. Their pool for freight shipping invoices is now open for investment, check out more here.

Paperchain finances streaming revenue to artists & labels. Their pool for Spotify invoices is now open for investment, check them out here."

Pros and Cons

Pros

Cons

Competition

Team, Funding, Partners

Team

  • Full team can be found [here].

Funding

Partners

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