Welcome to our monthly summary of news, events and governance updates from the Centrifuge DAO for November!
Partnerships and new investments into Centrifuge from big players are the result of developments and improvements of the protocol with the ultimate goal of tokenizing more and more real-world assets on-chain! This and more exciting news can be found in this newsletter!
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Web3 Foundation deploys treasury into RWAs on Centrifuge
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The importance of token standards for RWAs
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Check-In - The Tokenized Asset Coalition
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POP-process: Edly Inc
Key Metrics
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Total Value Locked (11/30/23): $248.59M (MakerDAO: $143M; RWA Market: $3.8M)
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Total Active Loans: $248M
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Total Assets Originated: $486M
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Originated in November: $14.9M
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Assets repaid in November: $16M
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Token Holders: 48,156 Wallets
Ecosystem
The Ecosystem is focused on educating the world about Centrifuge, creating visibility and opportunity for RWAs, and sharing the narrative of how the world’s credit will be financed through DeFi.
November highlights include:
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Events/Panels with Centrifuge:
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Bringing Real-World Assets to Arbitrum on November 13 where Colin, Cassidy and Asad talked with Steven Goldfeder on Arbitrum’s vision for RWAs
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Stable Summit on November 15: Panel 5 - Maintaining A Treasury of Centralised vs Decentralised vs Mixed Assets with Cassidy
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Boys Club hosted a live podcasting station @ Real-World Asset Summit. Here are some talks
Ria Bhutoria, Castle Island Ventures
Parker Jay-Pachirat, FinTech Collective
Paul Brody, EY
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Centrifuge (and RWAs) in the news:
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Medium: Unveiling Real-World Use Cases: How Real World Assets (RWA) Transform DeFi
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Medium: The Rise of Real World Assets: Insights and Future Outlook
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Blockworks: 3 of the biggest blockchain tech developments in 2023
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Coincentral: Real World Assets (RWAs) in Crypto and Web3: A Fun & Easy Guide
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Blockchain Insider: Real world assets on-chain
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Research:
Community
The Community is represented primarily by individuals and organizations that are actively participating in governance, contributing to processes and discourse, and are economically tied to the success of Centrifuge.
- The Web3 Foundation (the organization behind Polkadot) announced the investment of a part of the treasury into Anemoy’s upcoming pool of US T-bills on Centrifuge! The pilot investment will start with $1M.
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After the initial launch of the Tokenized Asset Coalition in September, here is a Check-In by Colin highlighting the main goal of the TAC to unite TradFi and DeFi to accelerate the institutional adoption of tokenizing RWAs on the Blockchain.
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A clear description and overview of Launching a Pool with the steps of the Pool Onboarding Proposal Process (POP) can be found in the Centrifuge documentation
More news from the community:
@JxTolan: Centrifuge is approaching $500M total origination volume
https://twitter.com/JxTolan/status/1729928855215804783
https://twitter.com/andreas_seppy/status/1722917547148726422
https://twitter.com/andreas_seppy/status/1728097566418411580
https://twitter.com/Xuyennguyen84/status/1727994928360562694
https://twitter.com/HFAresearch/status/1723690563948696000
https://twitter.com/pendulum_chain/status/1729705243305238897
Save the date(s):
ScytaleDigital: From Crypto Winter to Spring on December 5
Centrifuge Governance Call #23 on December 20
Governance
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Let’s start as usual with the Governance update November, provided by the GCG. The most important proposal that ended is the one to Extend the Parachain Lease! Open Request for Comments cover Unclaimed Tinlake Rewards and Updating the Block Rewards on Centrifuge Chain.
!! A reminder: Please actively participate in the governance process, leave your comments and remarks in the RFCs and vote on open proposals!! -
In the Centrifuge governance call #22, Orhan from the GCG gave a general governance update, he talked about the migration to OpenGov and Ivan initiated a discussion on unclaimed Tinlake rewards (see above).
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A new POP was introduced by Edly Inc, an issuer of private income-based repayment student loans. Edly intends to launch the pool as a unitranche and with the pool size of $7M. The submission is open for comments until it moves to the next phase of the POP-process.
Protocol
The Protocol is represented primarily by organizations that are actively using Centrifuge’s technology to facilitate the underwriting, structuring, and financing of RWAs.
Product & Engineering
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CTO Jeroen highlights in the Mirror article the importance of token standards for RWA tokenization with the main benefits of cost savings and efficiencies plus composability through integration in Defi. Future opportunities for new token standards are asset origination and Know-your-customer (KYC).
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Pool updates: Fortunafi announces the world’s first tokenized T-Bill for users where participants can soon get exposure to US treasury bills!Another update & thoughts on the Housing market from UrbanGate for November 2023
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Good news for users of a hardware wallet such as Ledger with the latest update on the generic Polkadot app developed by Zondax.
Stay tuned for the next monthly update with more news, governance updates, and developments from the ecosystem!
What are your thoughts and comments? Please share your feedback as reply to this post in the forum or you can get in touch with the team, ambassadors or moderators in Discord!