Parachain Secured!
Centrifuge just won the auction for a parachain slot on Polkadot 🥳
Centrifuge just won a parachain slot! Now we are all systems go to bring RWAs to the Polkadot ecosystem 🌀
Centrifuge is the home for real-world DeFi. With Centrifuge connected to Polkadot — and soon parachains like Moonbeam and Acala — we are ready to grow Polkadot DeFi at lightning speed.
What’s Next?
Get ready to experience Centrifuge with faster and cheaper transactions! Parachains from batch 2 of the Polkadot parachain auctions launch on March 11th.
The launch of our parachain will look somewhat similar to that of Altair: the initial launch will be an “empty shell.” Once stability is confirmed, we can begin the hard part 😱 Centrifuge Chain (which is already live) will then fork from being a standalone chain to become the 9th parachain on Polkadot!
Stay tuned for more information on how this fork will unfold — we are going to need the support of our amazing community on this 💪
This is when the real magic happens. Once the Centrifuge parachain is live and running smoothly, Tinlake launches on Centrifuge Chain! Imagine financing assets in pools ~natively on Centrifuge Chain~ and connected to liquidity from both the Polkadot and Ethereum DeFi ecosystems. This is only the beginning, and we can’t wait to see Polkadot DeFi skyrocket from here.
Why is this important for DeFi?
Centrifuge unlocks liquidity for assets in the real world by connecting them to DeFi. This brings millions (soon… trillions!) of value into DeFi — helping the entire industry grow by integrating Centrifuge across multiple projects like Maker, Aave, and more to come!
DeFi has come a long way — but we are still extremely early. Most of the TVL (total value locked) in DeFi is crypto-native. This limits how much DeFi can grow. Centrifuge is paving the way for real-world assets to enter DeFi. This opens the potential for DeFi TVL to grow 100s of times over.
But perhaps what is even more important here is our impact on real businesses that can now access financing! Centrifuge is changing the way that SMEs (small and medium sized enterprises) can get financing for their assets — from invoices to inventory to mortgages, and more. By bridging the gap between these real world assets and DeFi liquidity we are opening up new possibilities for these businesses.
Why is this important for the Polkadot ecosystem?
Interoperability is a core focus for Centrifuge — and by bringing millions of assets into the Polkadot ecosystem, Centrifuge will be expanding DeFi liquidity (and growth!) for all of the projects we integrate with.
Some of the integrations we are most excited about:
- Moonbeam: being able to integrate with Solidity based projects on Moonbeam like Aave, Sushi, and more 😍
- Acala: access to stable liquidity using aUSD, and more types of collateral backing it by adding Centrifuge pools!
- Parallel: access to new types of lending for Parallel users (maybe something like the RWA market on Aave!)
With greater interoperability across all of these projects comes a seamless flow of liquidity. This will mean the TVL in Polkadot DeFi can grow exponentially 🚀
