Centrifuge (CFG)

Centrifuge was founded in 2017 by Lucas Vogelsang and Martin Quensel. The main goal of the project is to generate profits not tied to volatile cryptocurrencies, thus transferring the real monetary value from fiat currency to cryptocurrencies. Real-world assets (RWA) are converted into NFTs, which are then funded by the Tinlake protocol. This forms a kind of marketplace on Ethereum. Tinlake enables companies to tokenize their valuable real assets, such as mortgages and invoices. An NFT representation of each of those assets, called a tokenized document, is then recorded on the blockchain, making both authenticity and ownership verifiable. This tokenized asset can then be used as collateral for loans funded by the liquidity investors have deposited within Tinlake pools. Investors can thus lock stablecoins in these pools to provide capital to businesses as loans, on which they can then earn a return. The CFG token is used within this protocol as a governance and utility token. It can also be used for staking.