March Momentum
Centrifuge’s momentum stayed strong throughout March, and there’s much to share! Let’s dive into key updates, achievements, and moments of impact within our rapidly expanding ecosystem.
Centrifuge’s TVL Reaches New Heights 📈
Centrifuge’s Total Value Locked (TVL) has been on an impressive trajectory, thanks in part to BlockTower Credit, which now operates Centrifuge’s largest single pool. By providing financing for real-world assets, Centrifuge has seen a remarkable growth in our TVL throughout March:
March 1st, 2023: $156M
March 31st, 2023: $170M (+9%)
Of the $170M TVL, $168M is actively financing tangible assets in the real world (that means only about 1% of funds in our protocol sit idle).
And to date, Centrifuge has facilitated a grand total of $318M in real-world asset financing.
Making a splash at ETHDenver 🏔
Centrifuge and its active contributors were all over Denver. We engaged with the community in dynamic discussions on real-world assets, regulatory considerations, and compliance standards.
We knew there had to be a side event for RWA, so we took over a hi-fi listening bar and invited Kevin Chan (BlockTower), August Widmer (Credix), Sam Paderewski (Steakhouse Financial), and Asad Khan (Centrifuge) for a lively discussion.
We’re planning more hangs like this one, so keep an eye out!
DeFi’s New Narrative: The Real World 🌀
Real-world assets are transforming DeFi’s landscape. With discussions and threads proliferating on Twitter, like the one below, the potential of Real-World DeFi has captured the attention of those building and participating in our new financial system.
An Ecosystem for RWAs 🔨
Innovative projects are emerging within the RWA ecosystem, such as rwa.xyz, which offers valuable analytics on real-world assets. Check their site out to get a birds-eye view of the value RWA protocols bring to the world!
For those seeking deeper insights into Centrifuge’s metrics, this comprehensive Centrifuge dashboard on Dune Analytics is the perfect resource.
DAO & Governance 🏛
New Facilitator for Centrifuge Credit Group
The Centrifuge Credit Group are seasoned credit experts with specializations in different asset classes. They will provide the Centrifuge community and our partners with unbiased and objective reviews of pool onboarding proposals.
Mark Hergen has been nominated as the new facilitator for the Centrifuge Credit Group. His plans include formalizing the strategy and setup of the Credit Group to provide more objective and formalized risk reviews for new pools on the Centrifuge protocol.
See the Credit Group’s latest poll on onboarding a new pool to Centrifuge.
An Update From The Governance & Coordination Group
The Governance & Coordination Group facilitates Centrifuge governance, improving the transparency and accessibility that runs our protocol and DAO.
Catch up on their status and accomplishments from Q1 2023 here!
Grants: Researcher Needed for “State of the Market”
The DAO is looking for experienced private credit researchers to create a thorough analysis of both the Centrifuge product as well as on-chain credit as a whole.
Sound up your alley? Join the discussion on our forum.
What We’re Reading 📰
Decrypt: How Centrifuge Is Making DeFi Impactful With Real-World Assets
The Defiant: Ethereum Developers in Conference at the “Wild West” are Warming to Compliance
Binance Research: Real World Assets: The Bridge Between TradFi and DeFi
P.S. We’ve recently updated the Centrifuge website with a News section to showcase media articles and research reports like the above — all in one place 🌀.
That’s about it! With so much in the works for our nascent ecosystem, we’re excited to check back in next month : )
Want to read more and join the discussion? Check out the March Summary on the Centrifuge forum.
