By Devin Black, Product Marketing @ Centrifuge
Throughout the latter half of 2023, Centrifuge’s core development team has been hard at work on building new features and revamping existing aspects of the Centrifuge App to make it the best user experience for investing in real-world assets onchain.
Today, we’re excited to share that these features are live — and to dive in on what they mean for Centrifuge.
As of today, Centrifuge is live on Ethereum Layer-2 (L2) networks Arbitrum, Base, and Celo (as well as mainnet Ethereum).
Centrifuge lets users on supported chains connect directly to the app to make investments. There’s no need to bridge over tokens or add new chains in your web wallet — just choose a network and select your wallet.
Centrifuge’s multi-chain strategy is unique in that users use one chain to originate assets (Centrifuge Chain) and multiple chains to source liquidity.
User experience has come a long way in onchain finance — and there’s still a ways to go. We’re focused on doing the best we can to build a design system that makes investing into RWAs on Centrifuge simple, no matter which chain you’re on.
So, what now? Our immediate focus is on the vibrant onchain organizations native to each L2. We’re leveraging Centrifuge Prime to offer these DAOs and protocols access to RWAs — starting with U.S. Treasurys via Anemoy, Centrifuge’s latest pool. Centrifuge Prime is getting some product love too: more on that later in this article.
PS: also expect to see more chain announcements coming soon 👀.
We know that users want to track the yield they’ve earned on their RWA investments, so we’ve built a beautiful new Portfolio page for just that.
In addition to the expected portfolio performance value, we also provide a holding overview, so users can see how their allocation varies between assets on Centrifuge, from real estate to consumer finance to U.S. Treasurys.
Furthermore, we’ve built out transaction history for users to easily see their history of investments and redemptions. And lastly: the investment and redemption flow has been overhauled to provide a smoother experience on- and off-boarding to real-world assets.
One of the benefits of tokenized real-world assets is transparency. Of course, this isn’t too helpful if the information is deep onchain, requiring technical know-how to extract. We’ve reimagined the Asset Overview of a tokenized asset — like below, a U.S. Treasury Bill — providing more information on pricing, maturity date, settlement price, and more.
Fun fact: this is the first time an NFT has been created to represent an individual T-Bill!
We’re almost done with another new page on the app: a tracker for all things Centrifuge Prime. This page will show investments that onchain organizations — like DAOs and protocols — have made into assets on Centrifuge through Centrifuge Prime.
The Centrifuge team has made great headway in onboarding the onchain world to real-world assets. Our proposal with Aave has passed, and work is ongoing behind the scenes for their first $1M investment to onboard to Centrifuge assets in Q1 2024.
And — just today — our proposal to Frax to onboard $20M to Centrifuge has passed, adding Frax to the family of organizations onboarding to RWAs via Centrifuge Prime.
The Centrifuge Prime page will be the source of truth for onchain organizations like DAOs and protocols who are invested in assets on Centrifuge. We’re looking forward to seeing how our cross-chain expansion will allow a vibrant ecosystem of onchain organizations to be invested in real-world assets via Centrifuge.
Last month, our CTO Jeroen, published a blog post on our team’s work in contributing to Ethereum. We’ve built upon the Ethereum’s existing Tokenized Vault Standard (ERC-4626) to better support RWA investments, and now we’re looking to incorporate this work into a new standard on Ethereum: ERC-7540.
We’ve had three audits performed on our new multi-chain product since we announced deployments on Arbitrum and Base testnets back in September. You can read the full reports here.
On Code4Arena, a community security platform, 85 security researchers reviewed Liquidity Pools, finding 8 medium risk issues (but luckily no severe issues — issues that can result in loss of funds). We’ve since patched up these issues; and we appreciate the input of Code4rna’s community!
With Centrifuge now a multi-chain protocol, we’re thrilled to bring real-world assets to users and organizations across the new onchain economy.
Centrifuge’s newest pool, Anemoy, lets users get started with ‘risk-free’ investments. Centrifuge Prime gives onchain organizations the structure and rigor to invest in RWAs the right way and allows them to scale in the future. On our app, these new pages give unmatched visibility into data and asset insights to allow investors to make better decisions.
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