2024-March Centrifuge Monthly Summary
Centrifuge Monthly Summary
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April 4th, 2024

Welcome to our monthly summary of news, events, and governance updates from the Centrifuge DAO for February!

Please subscribe to the newsletter to receive the latest updates directly to your inbox!

Key Metrics

  • Total Value Locked (04/01/24): $267.8M (MakerDAO: $155.6M; RWA Market: $2.3M)

  • Total Active Loans: $267M

  • Total Assets Originated: $552M

  • Originated in March: $20M

  • Repaid in February: $18M

  • Token Holders: 52,901 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.

March highlights include:

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 announces the launch of an Onchain fund management platform to tokenize funds and streamline access to all necessary service providers and investors with the goal of saving operational overhead and increasing liquidity.

  • Update of the Centrifuge documentation with a new structure and a more streamlined overview. Thanks to Devin for taking care of this!

  • Centrifuge has now a Wiki page up and running on IQ.wiki - The world’s largest Blockchain & Crypto Encyclopedia!

  • Real-world assets are coming to Celo starting with a $1M allocation in US Treasuries on Centrifuge from Celo’s ecosystem! We’re happy to have Celo as a strategic partner and together, we’re building a new economy unlocking better capital access for all.

  • The proposal to onboard GnosisDAO with Centrifuge Prime is live! This proposal approves the legal documents to form the foundation on behalf of the GnosisDAO. This is the last step before investments can take place!

  • Current openings: we’re looking to fill four roles. More details on the job profiles and the link to the applications can be found here.

More community news and Social media coverage:

@Polkadot: Spotlight on: Centrifuge: A veteran of the RWA-market

Influencers talking about Centrifuge and RWAs…
https://www.youtube.com/watch?v=kdQi-N1BfO4
https://www.youtube.com/watchv=ywvLImBgDNg&t=628s
https://www.youtube.com/watchv=g7wBR97tKJg&t=855s
https://www.youtube.com/watch?v=75HnW40Ym4M
https://www.youtube.com/watch?v=_AdUJYGlabc&t=25s

One of our ambassadors John in action…

Save the date:
April 17: Centrifuge governance call 
April 19 (Dubai): TOKEN2049 
April 26 (Bangkok, Krung Thep Maha Nakhon): Onchain 2024 
May 28 (Austin, TX): Consensus 
July 9 (Brussels): EthCC

Governance

  • Reminder for Crowdloan participants (who haven’t claimed their CFG-rewards):Please claim your Crowdloan rewards before April 05 2024❗ After this date the CFG-claiming will be discontinued.

  • To get an overview on governance updates see the summary provided by the GCG, amongst others the Recovery of lost CFG tokens, the Roadmap proposal and some Runtime upgrades as well the most recent Q1 2024 status.

  • Our Governance Call 26 was pushed back one month so there was no governance call this month.The next governance call will be Wednesday 17th April. If you haven’t joined a gov call previously, you can register in the forum post.

  • Governance discussion on the updated Treasury Spending Agreement: Cassidy’s proposal aims to reconfirm the previous treasury spending agreement to continue to be cautious and conservative in spending. Instead a clear process and objectives should be established and the DAO should agree on the need to no longer completely avoid treasury spending.

  • Kate summarized some key insights on the State of the Centrifuge DAO highlighting:

    • Participation in the governance process and token holders

    • Value in TVL and treasury

    • Token utility

    • Direction of the protocol and the DAO

!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

  • Kirill from New Silver hosted a Pool party to introduce New Silver’s third pool NS3 on Centrifuge! NS3 is going to be launched very soon (April).

  • Pool update: Databased Finance is winding down their pool DF1. Investors should place redemptions for all their tokens

  • News from the Centrifuge Credit Group: Following the previous articles on US Treasuries and US Mortgage-Backed Securities markets this forum post follows up with US Investment Grade Corporate Bonds.

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!

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