Welcome to our monthly summary of news, events, and governance updates from the Centrifuge DAO for April!
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Centrifuge’s recap for Q1 2024 announces some major news (big institutional players start to realize the huge potential of asset tokenization) as well the important series A funding which supports the mission to drive the adoption of institutional DeFi! This and more exciting news can be found in this newsletter!
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Centrifuge raises $15M in Series A funding💰
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Proposal to launch an RWA lending market
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Application for the Arbitrum STEP program
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Protocol fees from Anemoy
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Re-Launch of the Community call
Key Metrics
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Total Value Locked (05/01/24): $275.6M
MakerDAO: $163M; the RWA market has been fully redeemed and closed down: $0 -
Total Active Loans: $275M
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Total Assets Originated: $571M
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Originated in April: $19M
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Repaid in April: $13M
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Token Holders: 53,357 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.
April highlights include:
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Speaking highlights with Centrifuge:
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Token 2049 in Dubai and a Panel discussion Tokenizing Real World Assets: Next Generation for Markets with Lucas
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Kinto Twitter Spaces on April 9: The challenges of Asset tokenization with Lucas
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Centrifuge Features & Media:
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Centrifuge raises $15 million in Series A funding for institutional DeFi adoption (The Block)
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How Real-World Assets Will Survive (and Evolve) in the Bull Market (The Defiant)
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Centrifuge raises $15 million in oversubscribed funding round (Axios Crypto)
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Understanding the Tokenization Revolution and How it Transforming the Global Economy (Finance Magnates)
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17. Digital Alchemy: Tokenisation & Real World Assets (LinkedIn)
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New Silver Launches Third Real Estate Pool On-chain (The Globe and Mail)
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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.
- Centrifuge Q1 2024 recap: Catch up on our eventful first quarter of the year with a big bang for Centrifuge and the broader asset tokenization space. Major institutional players start to believe in our mission to tokenize the world’s (real world) assets onchain. Our goal is to launch new products and embark on new partnerships. In a nutshell we are continuing to solidify our position as a leader in bringing assets and funds onchain.
- Earlier this month we raised $15M in a Series A funding! This strategic investment will be used to drive Product Development, create Onchain Utility, cultivate the Ecosystem Growth and to bring on new Talent (see below) to the ecosystem to accelerate innovation and adoption.
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We’re still looking to fill two more roles! More details on the vacancies and the link to the application can be found here.
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Centrifuge submitted an application for the Arbitrum STEP program! This proposal aims to onboard the Arbitrum treasury into the Anemoy Liquid Treasury Fund.
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On April 24, the Centrifuge community re-launched the Community Call in a new format as a Twitter Space! This month’s call was hosted by one of our great ambassadors Bella!
More community news and Social media coverage:
Two of our ambassadors in action…
Save the date:
May 28 (Austin, TX): Real-World Asset Summit
July 9 (Brussels): Real-World Asset Summit
Governance
*The claiming of all remaining Crowdloan rewards ended on April 05 2024*
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To start with the monthly overview on governance updates provided by the Governance & Coordination Group, amongst others with ongoing proposals and RFCs for Financial reporting, a technical proposal for Data protocol and the Launch of an RWA lending market.
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The Governance Call 26 with important topics related to the treasury on the agenda. The highlight was Lucas’ proposal to launch an RWA lending market (see below).
Reminder: If you haven’t joined a gov call previously, you can register in the forum post. -
This is a huge proposal! Centrifuge should create a lending market focused on Real World Assets to give users the chance to lend and borrow against pool tokens. With this proposal being implemented it will bring additional utility to RWAs and it helps Centrifuge on the mission of bringing financial markets onchain.
Two technical proposals to (a) introduce the Data Protocol within the Centrifuge network. It aims to establish Centrifuge as the single source of truth for issuers, facilitating transparent and compliant operations. The proposal for (b) Financial Reporting intends to build standardized real-time financial reporting for Pools in Centrifuge. The objective of this proposal is to improve the quality of on-chain and real time reporting available to pool issuers and investors.
Please actively participate in the governance process, leave your comments and remarks in the RFCs and vote on proposals
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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Congratulations CFG DAO on the first Protocol Fees earned in Anemoy’s Liquid Treasury Fund! The fees earned from the protocol and Centrifuge prime will ensure self-sustainability and are going to be used to fund future development and constant innovation of the protocol.
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Pool updates from Databased Finance: the issuer placed some funds in the pool reserve to ensure all senior investors can withdraw their investments.
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Last, but definitely not least, news from the Centrifuge Credit Group: Asset Primer on US non-Investment Grade Corporate Credit. This segment of fixed income provides higher yield in exchange for lower liquidity and credit quality.
Stay tuned for the next monthly update with more news, governance updates and developments from the ecosystem!
Connect with us as a reply to this post or you can get in touch with the team, ambassadors or moderators in Discord!