Centrifuge is an infrastructure that issues, operates, and distributes real assets, private credit, government bonds, funds, and structured products on-chain. Official documentation defines Centrifuge as an “institutional-grade infrastructure” that enables asset managers, fintechs, and DeFi protocols to create compliant tokenized products. The official site lists figures of over $1.8 billion TVL and 1,768 tokenized assets, while the document states that over $2 billion RWA has been tokenized through the platform. (Centrifuge) 1. RWA: RWA represents physical or off-chain financial assets such as bonds, real estate, and private credit as on-chain tokens. On-chain state mapping exists indirectly through pools, share tokens...
Investment View
It is appropriate to view it as “a model in which compliant assets are issued, investors hold vault shares, and protocol fees and treasury grow over the long term.” Investor compensation is participation in asset performance through vault share tokens. The ERC-4626 vault is suitable for immediate deposit fulfillment, and the ERC-7540 vault is suitable for request-based investment and redemption. RWA's revenue comes from loan interest, government bond yields, fund performance, structured product cashflow, etc., and Centrifuge expresses this in on-chain share tokens and NAV. Issuer rewards are reduced funding costs and expanded distribution. On paper, Centrifuge reduces the brokerage...
Centrifuge is an on-chain asset management infrastructure that tokenizes real assets and connects asset issuers, investors, and DeFi protocols. Initially, Tinlake on-chained the asset pool through an NFT-based RWA collateral loan structure, and in 2021, through the RWA integration with MakerDAO, Aave RWA Market, and BlockTower Credit, it established an initial narrative of “a protocol connecting RWA with DeFi liquidity”. Centrifuge's official documentation explains that Centrifuge currently supports institutional strategies such as Apollo, Janus Henderson, and S\&P Dow Jones Indices, and presents a track record of over 21 audits, 7 chain deployments, and over $2 billion in tokenization.
Investment View
Caution: This report is not investment advice and does not provide price predictions or buy or sell recommendations. Centrifuge's overall maturity is evaluated at 71.8/100. In addition, the active DAO governance pause according to CP171 can increase execution speed, but in the evaluation of the crypto economy, decentralization and community control are deductible factors.