Centrifuge: financing real-world assets on-chain via Tinlake
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Overview of Centrifuge, a Substrate chain that tokenizes invoices, mortgages and royalties as NFTs to use as DeFi collateral through Tinlake, with CFG for staking and governance. Includes the author's crowdloan contribution through Parallel using a referral link.
Key claims
Real-world assets are represented as ERC-721 NFTs in Tinlake
Centrifuge is bridged to ETH and will integrate Moonbeam and Acala aUSD minting
Parallel route paid 4 PARA per DOT
0/ Another week, another crowdloan contribution. Today I contributed some $DOT to the @centrifuge crowdloan campaign! 馃帀馃嵕
Short 馃Уon $CFG (0/7)
1/ @centrifuge is a nominated Proof-of-Stake blockchain built on Substrate that enables users to bring their assets on-chain as non-fungible tokens (#NFTs).
2/ This is the starting point to unlock financing for any type of asset through #DeFi, with Tinlake being the consumer facing dApp used by asset originators and investors to finance assets.
3/ An asset in #Tinlake is a real-world asset such as invoices, mortgages or streaming royalties that have a stable value and/or payment stream so it can be used as collateral to borrow against. These real world assets are represented by #NFTs (ERC-721 on #Ethereum)
4/ The native token is the Centrifuge Token $CFG, powering a nominated PoS consensus algorithm that relies $CFG to stake value. $CFG is also used to
reward #Centrifuge adoption.
5/ Moreover, $CFG sits at the core of @centrifuge's on-chain governance mechanism that empowers $CFG holders to guide the development of #Centrifuge.
6/ Last but not least, @centrifuge is a true cross-chain project. It is already bridged to $ETH, will be integrating with @MoonbeamNetwork and users will be able to mint @AcalaNetwork's $aUSD through @centrifuge.
$DOT $ACA $GLMR $CFG
7/ I contributed via @ParallelFi, securing additional $PARA rewards (4 $PARA per $DOT)!馃殌
Contribute here馃憞馃憞馃憞
crowdloan.parallel.fi/#/auction/contribute/polkadot/2031?referral=0xa6ff6d2a7c07350850065b85740bbdecd5c8a91697c7421bf5fb02183b84307e