This category is used for technical discussion about Centrifuge Chain and the Altair network, including running a Collator

Engineering

HELP! I cant claim my parachain crowdloan rewards (Nov 2024)&hellip; Is all lost?

Orhan

HELP! I cant claim my parachain crowdloan rewards (Nov 2024)... Is all lost?

Cantina: Centrifuge Security Review

Code4rena: Centrifuge Findings &amp; Analysis Report

Code4rena: Centrifuge Findings & Analysis Report

This category is used for updates, announcements and latest news about Centrifuge

Announcements

Centrifuge Governance Call #38 | 2025-10-15

Kate

Centrifuge Governance Call #37 | 2025-10-02

Centrifuge Token Migration Update

This category is used for broader discussions around Real World Assets (Decentralized underwriting, financial markets, tokenized assets) and financing, including introductions, POPs plus announcements and updates from Pools

Real World Assets

Centrifuge DAO Governance and Tokenomics: Relational Sustainability Brief

Originating Fully-Performed Card Receivables in Brazil

Daniel

Tokenize U.S. property assets with Centrifuge?

This category is used for discussion around investing in Tinlake pools, the RWAmarket and Maker as well to inform about product updates

Product

Pools on Centrifuge Chain are coming!

Michael Sonenshine

ABout withdrawing CFG token from account on https://polkadot.js.org/ to CFG wallet extension

Harbor Trade Credit Series 2 - HT2DRP redemptions (issue)

bitm00n

The community category is a space to ask and discuss anything about Centrifuge and Altair. Anyone can answer questions and add to the discussion

Community

Migration Deadline

Sent wcfg to wrong address

Migration Extension: WCFG Coins Stuck on Coinbase (Help)

This category is used for governance-related discussions, to post ‘request for comments’ and governance proposals.

Centrifuge Governance

Governance Best Practices

CFG Governance Summary

CP-2 Funding Request — Gem-Backed RWA Pool Preparation ($10M)

This category is used for the governance process, discussion around Altair, to post ‘request for comments’ and proposals.

Altair Governance

RFC: AIR to CFG Token Swap Post-Altair Chain Deprecation

Deprecating Altair Chain

Matthew W. Marcus

RFC: AIR to CFG Token Swap Post-Migration

I just found out about this migration, coinbase did not send any relavant info i see some posted links on here now but is there still a way to convert my tokens?? Thi or can this be extended until the end of the year i have a few thousand sitting in my wallet and hope this can be sorted easily.

xotichaze

Hi all — I’m submitting this RFC as an early-stage proposal to explore the feasibility of onboarding a fully verified and insured gemstone-backed RWA pool onto Centrifuge. The intention is to use this RFC to gather structured feedback from the community and DAO stakeholders.
The gem portfolio is currently held and fully documented under GIA grading reports, and the purpose of this funding request is to complete the professional valuation, structuring, and compliance groundwork required before presenting a Pool Onboarding Proposal (POP).
I look forward to collaborating with the Centrifuge community to refine this proposal and understand how best to align with existing pool framework, custody requirements, valuation standards, and governance expectations.
<ul>
<li>Winterdier</li>
</ul>
__ 
__
<h2><a name="p-19781-rfc-cp-2-funding-request-to-prepare-gem-backed-rwa-pool-10m-for-onboarding-on-centrifuge-1" class="anchor" href="#p-19781-rfc-cp-2-funding-request-to-prepare-gem-backed-rwa-pool-10m-for-onboarding-on-centrifuge-1" aria-label="Heading link"></a>[RFC] CP-2 — Funding Request to Prepare Gem-Backed RWA Pool (~$10M) for Onboarding on Centrifuge</h2>
<h2><a name="p-19781-summary-2" class="anchor" href="#p-19781-summary-2" aria-label="Heading link"></a>Summary</h2>
We propose creating a Centrifuge Pool backed by a curated $10M gemstone collection, represented through a Delaware SPV and supported by custody, valuation, legal enforceability, and tokenization documentation.
This RFC requests $165,000 in treasury funding to complete the preparatory work required to advance to a full Pool Onboarding Proposal (POP), including independent valuation, custody analysis, jurisdictional structuring, legal design, and governance documentation.
The gemstones are presently housed in Florida, where they have been maintained for multiple decades with documented provenance. A U.S.-based legal wrapper (Delaware SPV) provides a clear and enforceable structure for tokenization and collateralization.
<hr>
<h2><a name="p-19781-motivation-3" class="anchor" href="#p-19781-motivation-3" aria-label="Heading link"></a>Motivation</h2>
Gemstones are historically recognized as collateral and valued stores of wealth. They are:
<ul>
<li>
Durable
</li>
<li>
Insurable
</li>
<li>
Portable
</li>
<li>
Non-correlated to traditional capital markets
</li>
</ul>
This initiative enables Centrifuge to:
<ul>
<li>
Expand beyond credit-linked RWAs
</li>
<li>
Demonstrate institutional custody/valuation pathways for alternative assets
</li>
<li>
Attract family office and alternative capital
</li>
<li>
Continue leadership in RWA tokenization diversity
</li>
</ul>
<hr>
<h2><a name="p-19781-asset-overview-4" class="anchor" href="#p-19781-asset-overview-4" aria-label="Heading link"></a>Asset Overview</h2>
<ul>
<li>
Estimated pre-certification value: ~$10,000,000
</li>
<li>
Documentation:
<ul>
<li>
GIA certification (grading, authentication, identity)
</li>
<li>
Decades-long custody provenance in Florida
</li>
</ul>
</li>
<li>
Independent valuation to be finalized by Gübelin Gem Lab (Switzerland)
</li>
</ul>
Asset categories:
<ul>
<li>
Rubies
</li>
<li>
Sapphires
</li>
</ul>
<hr>
<h2><a name="p-19781-jurisdictional-structure-5" class="anchor" href="#p-19781-jurisdictional-structure-5" aria-label="Heading link"></a>Jurisdictional Structure</h2>
To ensure enforceability and regulatory clarity:
<ul>
<li>
Custody location: 
Florida (existing multi-decade vaulting custodian arrangement)
</li>
<li>
SPV legal domicile will be: 
Delaware
</li>
</ul>
This combination provides:
<ul>
<li>
U.S.-based asset custody
</li>
<li>
U.S.-based enforceable legal wrapper
</li>
<li>
Proven provenance chain
</li>
<li>
Reduced onboarding legal complexity
</li>
</ul>
<hr>
<h2><a name="p-19781-funding-request-budget-breakdown-6" class="anchor" href="#p-19781-funding-request-budget-breakdown-6" aria-label="Heading link"></a>Funding Request &amp; Budget Breakdown</h2>
We request $165,000 in treasury funding.
<div class="md-table">
<table>
<thead>
<tr>
<th>Category</th>
<th>Purpose</th>
<th>Cost</th>
</tr>
</thead>
<tbody>
<tr>
<td>Valuation &amp; Certification</td>
<td>Gübelin appraisal, provenance confirmation</td>
<td>$60,000</td>
</tr>
<tr>
<td>Legal Structuring &amp; SPV</td>
<td>Delaware SPV, enforceability, collateral agreements</td>
<td>$50,000</td>
</tr>
<tr>
<td>Custody &amp; Insurance Study</td>
<td>Florida vaulting + insurance documentation</td>
<td>$20,000</td>
</tr>
<tr>
<td>Tokenization Architecture</td>
<td>Pool economics + redemption mechanics</td>
<td>$15,000</td>
</tr>
<tr>
<td>Project Delivery (Sponsor Compensation)</td>
<td>Execution of valuation coordination, legal onboarding, custody structuring, documentation, governance reporting, POP preparation</td>
<td>$20,000</td>
</tr>
<tr>
<td>Governance Preparation &amp; Compliance</td>
<td>DAO coordination, reporting standards, POP documentation</td>
<td>$10,000</td>
</tr>
<tr>
<td>Total Funding Requested</td>
<td></td>
<td>$165,000</td>
</tr>
</tbody>
</table>
</div>Budget reflects responsible execution, regulatory clarity, and contingency planning.
<hr>
<h2><a name="p-19781-deliverables-milestones-7" class="anchor" href="#p-19781-deliverables-milestones-7" aria-label="Heading link"></a>Deliverables &amp; Milestones</h2>
Phase 1 (Funded by this CP-2)
<ul>
<li>
Gübelin valuation and certification package
</li>
<li>
Custody insurance and jurisdiction documentation (Florida)
</li>
<li>
SPV legal structure and collateral documentation (Delaware)
</li>
<li>
Tokenization and pool architecture aligned with Centrifuge
</li>
<li>
Governance reporting framework drafted
</li>
<li>
Full POP prepared with supporting materials
</li>
</ul>
Phase 2 (Post-POP)
<ul>
<li>
Community-driven POP refinement
</li>
<li>
On-chain pool launch
</li>
<li>
Liquidity sourcing
</li>
</ul>
<hr>
<h2><a name="p-19781-proposed-pool-structure-8" class="anchor" href="#p-19781-proposed-pool-structure-8" aria-label="Heading link"></a>Proposed Pool Structure</h2>
1. Legal Wrapper (Delaware SPV)
<ul>
<li>
Clear enforceability
</li>
<li>
Established corporate governance precedents
</li>
<li>
Investor protection built into contract language
</li>
</ul>
2. Custody (Florida)
<ul>
<li>
Existing multi-decade holding history
</li>
<li>
Insurable custodial vault
</li>
<li>
Documented provenance
</li>
</ul>
3. Audit &amp; Recertification
<ul>
<li>
GIA grading
</li>
<li>
Gübelin valuation
</li>
<li>
Annual reassessment option
</li>
</ul>
4. Tokenization Architecture
<ul>
<li>
Over-collateralized
</li>
<li>
Redemption mechanics defined
</li>
<li>
Quarterly reporting to DAO
</li>
</ul>
<hr>
<h2><a name="p-19781-benefits-to-the-centrifuge-ecosystem-9" class="anchor" href="#p-19781-benefits-to-the-centrifuge-ecosystem-9" aria-label="Heading link"></a>Benefits to the Centrifuge Ecosystem</h2>
<ul>
<li>
Strengthens Centrifuge’s leadership in alternative asset onboarding
</li>
<li>
Attracts institutional and family office liquidity
</li>
<li>
Adds desirable non-correlated collateral
</li>
<li>
Creates reusable framework for hard-asset backed pools
</li>
<li>
Enhances ecosystem diversification
</li>
</ul>
<hr>
<h2><a name="p-19781-risks-mitigation-10" class="anchor" href="#p-19781-risks-mitigation-10" aria-label="Heading link"></a>Risks &amp; Mitigation</h2>
<div class="md-table">
<table>
<thead>
<tr>
<th>Risk</th>
<th>Mitigation</th>
</tr>
</thead>
<tbody>
<tr>
<td>Valuation uncertainty</td>
<td>Gübelin independent certification + annual updates</td>
</tr>
<tr>
<td>Custody risk</td>
<td>Existing custody history + insurance + documentation</td>
</tr>
<tr>
<td>Legal enforceability</td>
<td>Delaware SPV with clear claim language</td>
</tr>
<tr>
<td>Liquidity</td>
<td>Conservative tranche model + over-collateralization</td>
</tr>
<tr>
<td>Novel asset class</td>
<td>Transparent documentation + governance reporting</td>
</tr>
</tbody>
</table>
</div><hr>
<h2><a name="p-19781-governance-alignment-11" class="anchor" href="#p-19781-governance-alignment-11" aria-label="Heading link"></a>Governance Alignment</h2>
This CP-2 request reflects:
<ul>
<li>
Responsible budgeting
</li>
<li>
Strong jurisdictional clarity
</li>
<li>
High-quality documentation
</li>
<li>
DAO transparency standards
</li>
<li>
Phased execution with clear deliverables
</li>
</ul>
<hr>
<h2><a name="p-19781-next-steps-12" class="anchor" href="#p-19781-next-steps-12" aria-label="Heading link"></a>Next Steps</h2>
<ul>
<li>
Community feedback solicitation
</li>
<li>
Revised CP-2 submission
</li>
<li>
Execution of funded deliverables
</li>
<li>
POP preparation and submission
</li>
<li>
Community review and onboarding
</li>
</ul>
<hr>
<h2><a name="p-19781-conclusion-13" class="anchor" href="#p-19781-conclusion-13" aria-label="Heading link"></a>Conclusion</h2>
We request $165,000 from the Centrifuge Treasury to complete valuation, custody documentation, legal enforceability design (Delaware SPV), tokenization preparation, governance documentation, and POP development necessary to responsibly onboard a $10M gem-backed RWA pool.
We welcome review, questions, and adjustments to ensure the proposal best aligns with DAO standards.
__ 
__
To facilitate structured discussion, feedback on any of the below points would be valuable:
<ol>
<li>
Legal Structure Alignment: 
Are there preferred SPV jurisdictions that historically map best to Centrifuge pool enforceability?
</li>
<li>
Custody Expectations: 
What custody documentation and insurance proof would satisfy DAO diligence for a physical asset pool?
</li>
<li>
Disclosure Levels: 
For valuation/audit reports (e.g., Gübelin), should the DAO prioritize:
<ul>
<li>
full transparency publicly,
</li>
<li>
or attestations + redacted summaries?
</li>
</ul>
</li>
<li>
POP Timing: 
Would the community prefer the POP draft to be submitted concurrently with valuation work, or only after full documentation?
</li>
<li>
Token Structure Preferences: 
For an initial launch, is the DAO more comfortable with single-tranche or senior/junior tranche liquidity structures?
</li>
<li>
Risk Reporting Frequency: 
Quarterly reporting is proposed — are there governance reasons to prefer semi-annual instead?
</li>
</ol>
All feedback will be incorporated into the revised CP-2 submission.

Exhausted all potential legal avenues means that Centrifuge Network Foundation is unable to pursue further legal action against 1754 Factory LLC at this time. We reserve the right to pursue additional legal action should new facts come to light or circumstances change.
None of this should preclude other interested parties from seeking their own legal recourse if they have not done so already.
Note that in respect of the legal actions undertaken to date Centrifuge Network Foundation has acted on its own behalf as an investor and not as a representative of other creditor(s).

1754 Factory: Proposed Legal Review and Report to Centrifuge Community

Active Contributor

Centrifuge DAO operates as a Corporate Technocracy, a model prioritizing operational efficiency over decentralized resilience.
<div class="lightbox-wrapper"><a class="lightbox" href="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/3/3c8ee3d33bc09ea8413842a677ffad19bbe580a5.jpeg" data-download-href="/uploads/short-url/8DIMT3lmy1jTYuC23u7KDAe4WvX.jpeg?dl=1" title="Centrifuge DAO Governance and Tokenomics Relational Sustainability Brief by INCA" rel="noopener nofollow ugc"><img src="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/optimized/2X/3/3c8ee3d33bc09ea8413842a677ffad19bbe580a5_2_279x500.jpeg" alt="Centrifuge DAO Governance and Tokenomics Relational Sustainability Brief by INCA" data-base62-sha1="8DIMT3lmy1jTYuC23u7KDAe4WvX" width="279" height="500" srcset="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/optimized/2X/3/3c8ee3d33bc09ea8413842a677ffad19bbe580a5_2_279x500.jpeg, https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/optimized/2X/3/3c8ee3d33bc09ea8413842a677ffad19bbe580a5_2_418x750.jpeg 1.5x, https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/optimized/2X/3/3c8ee3d33bc09ea8413842a677ffad19bbe580a5_2_558x1000.jpeg 2x" data-dominant-color="6F6655"><div class="meta"><svg class="fa d-icon d-icon-far-image svg-icon" aria-hidden="true"><use href="#far-image"></use></svg>Centrifuge DAO Governance and Tokenomics Relational Sustainability Brief by INCA1536×2752 1.28 MB<svg class="fa d-icon d-icon-discourse-expand svg-icon" aria-hidden="true"><use href="#discourse-expand"></use></svg></div></a></div>
Day-to-day protocol operations and treasury management are controlled unilaterally by the Centrifuge Network Foundation and Centrifuge Labs under suspended onchain governance (CP171), establishing a primary Centralization Vector. Token holder sovereignty is theoretical, contingent on a four million CFG quorum for reinstatement.
<h3><a name="p-19775-governance-dynamics-and-engagement-alignment-1" class="anchor" href="#p-19775-governance-dynamics-and-engagement-alignment-1" aria-label="Heading link"></a>Governance Dynamics and Engagement Alignment</h3>
The system exhibits extreme Plutocratic Drift, with half of the token supply concentrated among fourteen addresses. The top five addresses alone command approximately one third of voting weight, constituting a latent Structural Veto. This concentration maintain an Apathy Engine, where negligible community participation in recent cycles renders proposal success a form of aristocratic ratification rather than broad consensus.
A critical meritocracy gap exists: the most active governance contributors hold less than one percent of the supply, while institutional whales demonstrate no active participation. This perpetuate governance incapacity, where knowledgeable actors lack verifiable influence or reputational leverage.
<h3><a name="p-19775-liability-and-structural-risk-2" class="anchor" href="#p-19775-liability-and-structural-risk-2" aria-label="Heading link"></a>Liability and Structural Risk</h3>
The Cayman Islands foundation structure provides board indemnity, while community participants bear unlimited regulatory risk without legal protections or claim on offchain collateral. A De Facto Partnership where token holders share downside risk without governance upside.
The protocol also shows Key Person Risk, with technical teams retaining a Sovereign Exception to bypass governance in emergencies. Simultaneous departure of three board members could halt all strategic decisions, treasury movements, and partnership negotiations, indicating moderate technical resilience but severe governance centralization.
<h3><a name="p-19775-fiscal-and-tokenomics-incentives-3" class="anchor" href="#p-19775-fiscal-and-tokenomics-incentives-3" aria-label="Heading link"></a>Fiscal and Tokenomics Incentives</h3>
Financially, the protocol displays fiscal asymmetry and self-subsidized inflation. Annual operational expenditures reach almost 5+ million dollars against unstructured revenue. CP149 minted 100+ million CFG, creating 15+ percent inflation without value accrual mechanisms. Offchain CNF-managed fees generate approximately 2+ million dollars annually from Anemoy products, but these funds are retained rather than burned or redistributed through treasury.
Competitive strength derives from institutional RWA partnerships, generating 500+ million dollars in TVL. However, sustainability requires acknowledging the DAO layer primarily functions as liability buffer, while value creation is centralized. The CFG token’s dual role as a governance right and exit liquidity mechanism creates Structural Dual-Use and Incentive Asymmetry for stakeholders who must choose between farming or voting.
Centrifuge’s fiscal oversight standards are a liability compared with institutional finance competitors. The absence of detailed, published financial statements prevents an audit of total value disbursed through grants (Cost of Agency) against the protocol’s organic revenue recapture.
<h3><a name="p-19775-the-corporate-technocracy-diagnosis-4" class="anchor" href="#p-19775-the-corporate-technocracy-diagnosis-4" aria-label="Heading link"></a>The Corporate Technocracy Diagnosis</h3>
Future viability could align capital providers with labor contributors. Without a permissionless human capital integration to offset structural entrenchment, the system remains rewarding wallet weight over merit, a disenfranchisement placing a Glass Ceiling on long-term qualitative contribution.
Meritocracy is absent; while Plutocracy is latent but non-participating. The protocol competes with TradFi securitization platforms, not onchain models. The community functions as a socialized liability structure that insulates a tokenized fintech startup within a paused DAO.
© INCA DAO Research 2025. Reproduction is reserved for formal licensing engagements.

Good day <a class="mention" href="/u/chirojan">@chirojan</a> 
Feel free to send me your CFG wallet address in DM here or you can open a private ticket in Centrifuge Discord. 
Glad to help you.

Governance Facilitator / Active Contributor

Hi <a class="mention" href="/u/8008">@8008</a> 
Thank you for reaching out.
Please follow the official Coinbase Announcement about the migration of legacy CFG assets that was posted in May 3oth, 2025:
<div class="lightbox-wrapper"><a class="lightbox" href="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/2/27c9fadae53a8593c013af8e062c9a6af941a3f6.png" data-download-href="/uploads/short-url/5FZmoOeXIomTAu9FShlIGVBcdXE.png?dl=1" title="image"><img src="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/2/27c9fadae53a8593c013af8e062c9a6af941a3f6.png" alt="image" data-base62-sha1="5FZmoOeXIomTAu9FShlIGVBcdXE" width="690" height="164" data-dominant-color="F3F4F5"><div class="meta"><svg class="fa d-icon d-icon-far-image svg-icon" aria-hidden="true"><use href="#far-image"></use></svg>image779×186 7.12 KB<svg class="fa d-icon d-icon-discourse-expand svg-icon" aria-hidden="true"><use href="#discourse-expand"></use></svg></div></a></div>
<ul>
<li><a href="https://x.com/CoinbaseAssets/status/1928481635617443981">https://x.com/CoinbaseAssets/status/1928481635617443981</a></li>
</ul>
<div class="lightbox-wrapper"><a class="lightbox" href="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/8/8f8a47e4d82a3523a57512637d33e323973fd3a4.png" data-download-href="/uploads/short-url/ktOxHAFMokr9CM683uP7bcgaVOQ.png?dl=1" title="image"><img src="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/8/8f8a47e4d82a3523a57512637d33e323973fd3a4.png" alt="image" data-base62-sha1="ktOxHAFMokr9CM683uP7bcgaVOQ" width="556" height="500" data-dominant-color="F3F4F5"><div class="meta"><svg class="fa d-icon d-icon-far-image svg-icon" aria-hidden="true"><use href="#far-image"></use></svg>image626×562 38.7 KB<svg class="fa d-icon d-icon-discourse-expand svg-icon" aria-hidden="true"><use href="#discourse-expand"></use></svg></div></a></div>
<aside class="quote no-group" data-username="8008" data-post="1" data-topic="7187">
<div class="title">
<div class="quote-controls"></div>
<img alt="" width="24" height="24" src="https://dub1.discourse-cdn.com/flex013/user_avatar/gov.centrifuge.io/8008/48/3446_2.png" class="avatar"> 8008:</div>
<blockquote>
“User restricted from performing operation.”
</blockquote>
</aside>
That looks like a Coinbase Exchange restriction. I would suggest that you contact Coinbase Support.
If you have any other questions, feel free to send me a DM or open a private ticket in Centrifuge Discord.

Hello everyone,
My name is Daniel, and I am the founder behind Alinha, a new credit-receivables platform being launched in Brazil. I would like to present our operating model and understand whether this category of real-world assets could be suitable for a future pool on Centrifuge.
<h3><a name="p-19743-market-context-in-brazil-1" class="anchor" href="#p-19743-market-context-in-brazil-1" aria-label="Heading link"></a>Market Context in Brazil</h3>
Brazil has one of the largest card-payment systems globally, with “buy now, pay later” embedded into standard credit-card transactions. Merchants typically receive their card receivables in 30–90 days, and most rely on receivables advances to manage cash flow.
Despite strong infrastructure, these advances are expensive. Merchants normally pay 2% or more per month, even though:
<ul>
<li>
The receivables are fully performed
</li>
<li>
Every transaction is registered in centralized receivables registries (Nuclea, supervised by the Central Bank of Brazil)
</li>
<li>
The receivables are part of the Visa/Mastercard domestic settlement rails
</li>
<li>
Chargeback rates in physical retail are below 1%
</li>
</ul>
This creates an opportunity to deliver more efficient capital while maintaining very low credit risk.
<h3><a name="p-19743-how-alinha-operates-2" class="anchor" href="#p-19743-how-alinha-operates-2" aria-label="Heading link"></a>How Alinha Operates</h3>
Alinha originates card-receivable credit advances directly through our platform. We are preparing to onboard a network of around 6,000 merchants, each processing approximately USD 10,000 per month in eligible receivables.
Key characteristics of the asset:
<ul>
<li>
Short duration and predictable cash flow
</li>
<li>
100% secured by already-performed receivables
</li>
<li>
Registered and pledged through the Brazilian central receivables registry (Nuclea)
</li>
<li>
Embedded in the Visa/Mastercard settlement infrastructure, which standardizes payment flows
</li>
<li>
Very low chargeback incidence for in-person retail
</li>
</ul>
<h3><a name="p-19743-capital-structure-and-fx-considerations-3" class="anchor" href="#p-19743-capital-structure-and-fx-considerations-3" aria-label="Heading link"></a>Capital Structure and FX Considerations</h3>
Our goal is to access USD-denominated capital to reduce the cost of funding for Brazilian merchants.
If we source capital in USD and we cover the full cost of FX hedging (via instruments on B3 or CME), the resulting economics allow us to:
<ul>
<li>
Offer merchants materially better rates than their current 2%+ monthly costs
</li>
<li>
Deliver investors a net annually yield in the range of 8–9% (hedged), depending on hedge structure and tenor
</li>
<li>
Maintain the underlying BRL credit risk extremely low, due to the combination of:
<ul>
<li>
performed receivables
</li>
<li>
centralized registry protections
</li>
<li>
payment-network settlement guarantees
</li>
<li>
high granularity and diversification
</li>
</ul>
</li>
</ul>
<h3><a name="p-19743-why-i-am-sharing-this-here-4" class="anchor" href="#p-19743-why-i-am-sharing-this-here-4" aria-label="Heading link"></a>Why I Am Sharing This Here</h3>
We are interested in understanding whether this type of receivables origination could fit within Centrifuge’s framework for real-world asset pools.
Specifically, we would like to learn:
<ol>
<li>
Whether a pool backed by Brazilian card-receivable advances would be considered appropriate for the ecosystem
</li>
<li>
What structural, legal, or data requirements we should prepare as we scale
</li>
<li>
How best to align our origination, risk, and reporting processes with Centrifuge standards
</li>
<li>
What steps are recommended for originators planning to submit a formal pool proposal in the future
</li>
</ol>
We are still early in deployment, but we aim to follow best practices from the beginning. Any guidance or feedback from the community, governance participants, asset managers, or anyone familiar with similar credit verticals would be greatly appreciated.
Thank you for your time, 
Daniel

Hi <a class="mention" href="/u/lamppost">@lamppost</a> 
Feel free to open a ticket in discord or hit me in TG for support. 
Best

Migration of tokens from Hydration

Folks, we’re a San Francisco based startup. Few of our customers are open to put their rental properties in DeFi markets in exchange for capital.
We’re looking at Centrifuge RWA, to setup SPV and tokenize property equity in exchange for investor loans. But Centrifuge developer documentation and app did not give us clear direction on way to get us started as provider.
I filled out ‘Contact Us’ form (as Fintech and Asset Manager) more than three times with no response yet.
How are dev teams getting started tokenizing their RWAs with Centrifuge platform? Or is it only for non-US markets?
Love to get any pointers.

Hi team! wow we are on track well played
Quick observation, I understand the governance calls are sensitive so community members should watch live, but due to time differnce I sometimes miss them. Could you please post the lastest one on youtube from last month and maybe post new calls every two weeks? look forward to the feedback #UPDAFUGE#

Jbgood

Governance calls replays

Good day <a class="mention" href="/u/thanh">@Thanh</a>
I’m sorry to hear you’ve run into this issue.
On one hand, please note that OKX has always traded wCFG (the wrapped version) and only approved the migration from legacy wCFG to the new CFG on November 3rd. You can read their announcement here: <a href="https://www.okx.com/help/okx-to-support-cfg-crypto-migration" class="inline-onebox">OKX to support CFG crypto migration | OKX</a>
On the other hand, MEXC has always traded the new CFG. That means sending wCFG to MEXC was unfortunately a mistake.
To stay updated on the migration process, please make sure to double-check the token contract, exchange support, and the official migration post here: <a href="https://gov.centrifuge.io/t/centrifuge-token-migration-update/6860/2" class="inline-onebox">Centrifuge Token Migration Update - #2</a>
Since OKX already supports a new CFG it would be better if you wil send your tokens to non-custodial wallet (Metamask, Rabby etc)
At this point, there’s nothing we can do from our side since the tokens are held by MEXC. I recommend reaching out to MEXC support directly for assistance.

Lack of consistency in CFG and wCFG token organization

Hi, 
Yes, there was a technical issue with the app and it has been resolved so I managed to migrate my tokens.
Thanks again for all your help <img src="https://emoji.discourse-cdn.com/twitter/folded_hands/4.png?v=15" title=":folded_hands:t4:" class="emoji" alt=":folded_hands:t4:" loading="lazy" width="20" height="20">

Alt650

Token Migration no longer available

With CP171 successfully passing, the execution of the marketing pilot has transitioned to Centrifuge Labs, who are now carrying the work forward. My advisory project with the Centrifuge Foundation has concluded, and I want to thank everyone who contributed to shaping the proposal and supporting its approval. Excited to see the results of this next phase.

Eshwar

CP164: DAO Marketing Q4 ‘25 Pilot Funding

I fully support this. Cfg holders should be treated like shareholders: responsible for oversight and very high level decisions, not involved in day to day business decisions.

ogre44444

CP171: Aligning for Execution, Transparency, and CFG Value Accrual through Centrifuge Network Foundation

Centrifuge DAO,
Our next governance call happening this WEDNESDAY at 18:00 CET!!
We have a very important proposal to discuss:
<ul>
<li>
Governance Update
</li>
<li>
<a href="https://gov.centrifuge.io/t/cp171-aligning-for-execution-transparency-and-cfg-value-accrual-through-centrifuge-network-foundation/7132">Aligning for Execution, Transperency, And CFG Value Accrual through Centrifuge Network Foundation</a>
</li>
</ul>
<div class="lightbox-wrapper"><a class="lightbox" href="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/8/80c2aeca52e2cd615834f4765b03c8f04d1aaff5.jpeg" data-download-href="/uploads/short-url/in4dLTR7ceO1myIYz71C5E92acB.jpeg?dl=1" title="goc call"><img src="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/optimized/2X/8/80c2aeca52e2cd615834f4765b03c8f04d1aaff5_2_690x377.jpeg" alt="goc call" data-base62-sha1="in4dLTR7ceO1myIYz71C5E92acB" width="690" height="377" srcset="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/optimized/2X/8/80c2aeca52e2cd615834f4765b03c8f04d1aaff5_2_690x377.jpeg, https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/optimized/2X/8/80c2aeca52e2cd615834f4765b03c8f04d1aaff5_2_1035x565.jpeg 1.5x, https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/8/80c2aeca52e2cd615834f4765b03c8f04d1aaff5.jpeg 2x" data-dominant-color="C9C3B5"><div class="meta"><svg class="fa d-icon d-icon-far-image svg-icon" aria-hidden="true"><use href="#far-image"></use></svg>goc call1128×617 63.5 KB<svg class="fa d-icon d-icon-discourse-expand svg-icon" aria-hidden="true"><use href="#discourse-expand"></use></svg></div></a></div>
This call is your chance to discuss and govern proposals made to the Centrifuge DAO
<img src="https://emoji.discourse-cdn.com/twitter/point_right.png?v=14" title=":point_right:" class="emoji" alt=":point_right:" loading="lazy" width="20" height="20"> <img src="https://emoji.discourse-cdn.com/twitter/point_right.png?v=14" title=":point_right:" class="emoji" alt=":point_right:" loading="lazy" width="20" height="20"> <img src="https://emoji.discourse-cdn.com/twitter/point_right.png?v=14" title=":point_right:" class="emoji" alt=":point_right:" loading="lazy" width="20" height="20"> Please register <a href="https://us06web.zoom.us/meeting/register/tZIsceGrrjMrG9Wn33JHCumYp_VAKgXOThMq">here</a> <img src="https://emoji.discourse-cdn.com/twitter/point_left.png?v=14" title=":point_left:" class="emoji" alt=":point_left:" loading="lazy" width="20" height="20"> <img src="https://emoji.discourse-cdn.com/twitter/point_left.png?v=14" title=":point_left:" class="emoji" alt=":point_left:" loading="lazy" width="20" height="20"> <img src="https://emoji.discourse-cdn.com/twitter/point_left.png?v=14" title=":point_left:" class="emoji" alt=":point_left:" loading="lazy" width="20" height="20">
<img src="https://emoji.discourse-cdn.com/twitter/spiral_calendar.png?v=14" title=":spiral_calendar:" class="emoji" alt=":spiral_calendar:" loading="lazy" width="20" height="20"> <a href="http://www.google.com/calendar/event?action=TEMPLATE&amp;dates=20251015T160000Z%2F20251015T170000Z&amp;text=Centrifuge%20Governance%20Call%2038&amp;location=https%3A%2F%2Fus06web.zoom.us%2Fmeeting%2Fregister%2FtZIsceGrrjMrG9Wn33JHCumYp_VAKgXOThMq&amp;details=Agenda%20%0AGovernance%20Update%0AAligning%20for%20Execution%2C%20Transperency%2C%20And%20CFG%20Value%20Accrual%20through%20Centrifuge%20Network%20Foundation%0A">Add this call to your calendar</a>

Treasury Advisory Group / Active Contributor

<aside class="quote no-group" data-username="appo11" data-post="9" data-topic="7021">
<div class="title">
<div class="quote-controls"></div>
<img alt="" width="24" height="24" src="https://dub1.discourse-cdn.com/flex013/user_avatar/gov.centrifuge.io/appo11/48/3336_2.png" class="avatar"> appo11:</div>
<blockquote>
and it didn’t even came to a vote
</blockquote>
</aside>
Good day Appo11 
The vote was publicly announced via all official media: Telegram, Discord, Gov Forum and Twitter.
<ul>
<li><a href="https://voting.opensquare.io/space/centrifuge/proposal/QmPJ7G9JtcfiHD9GqESzcY5FGq6gUyg9ZgfK2hxYQFPwaE" class="inline-onebox">CP163: AIR to CFG Token Swap Pre-Altair Chain Deprecation</a></li>
</ul>
All token holders were invited to participate and cast their vote.

<pre><code class="lang-auto">cp: 170
authors: Frederik
contributors: ImdioR
uses-component: cp4
technical-proposal: yes
requires-onchain: yes
impacts/modifies: CP53, CP102
status: rfc
date-proposed: 2025-10-02
date-ended:
</code></pre>
<h2><a name="p-19642-short-summary-1" class="anchor" href="#p-19642-short-summary-1" aria-label="Heading link"></a>Short Summary</h2>
This RFC proposes withdrawing the Centrifuge DAO’s 1,276,162 CFG liquidity from Hydration’s Omnipool.
<h2><a name="p-19642-high-level-objective-2" class="anchor" href="#p-19642-high-level-objective-2" aria-label="Heading link"></a>High level objective</h2>
This proposal aims to recover the 1,276,162 CFG locked in Hydration’s Omnipool, protecting Centrifuge DAO’s assets and transferring them to Centrifuge DAO Treasury.
<h2><a name="p-19642-background-3" class="anchor" href="#p-19642-background-3" aria-label="Heading link"></a>Background</h2>
Centrifuge has supported cross-chain liquidity to enhance the accessibility and utility of its governance token, CFG, within the Polkadot ecosystem. To this end, the Centrifuge DAO provided significant liquidity to the Hydration Protocol (formerly HydraDX) through two governance proposals:
<ul>
<li>CP53: Deposited 540,000 CFG into the Hydration Omnipool to boost on-chain liquidity for CFG ( <a href="https://github.com/centrifuge/cps/blob/main/cps/CP53.md">link</a> )</li>
<li>CP102: Added 710,000 CFG, totaling 1,250,000 CFG ($595,000 at the time), to further enhance liquidity, with the DAO retaining control over the tokens ( <a href="https://github.com/centrifuge/cps/blob/main/cps/CP102.md">link</a> )</li>
</ul>
The goal was to increase CFG’s liquidity, enabling token holders to buy and sell CFG easily while earning trading fees for the DAO.
Over 2 years and 2 months, the Centrifuge DAO’s liquidity position grew to 1,276,162 CFG ( from intial allocation of 1,250,000 CFG), earning only 26,162 CFG in trading fees, which significantly underperformed the declared performance in CP53 and CP102.
On July 2nd, Hydration’s Technical Council unilaterally suspended CFG trading, as was post facto announced on <a href="https://x.com/hydration_net/status/1940429154987471196">X</a> and voted on via <a href="https://hydration.subsquare.io/techcomm/proposals/230">Subsquare</a>, without prior communication with the Centrifuge DAO.
<h2><a name="p-19642-description-of-activity-4" class="anchor" href="#p-19642-description-of-activity-4" aria-label="Heading link"></a>Description of Activity</h2>
This RFC proposes the immediate withdrawal of the Centrifuge DAO’s 1,276,162 CFG from Hydration’s Omnipool and the reallocation of these assets to the Centrifuge DAO Treasury wallet <code>4dpEcgqJRyJK3J8Es6v8ZfVntV7c64Ysgcjd4hYwyGoFPWbg</code>.
Actions:
<ul>
<li>Execute the technical process to withdraw the CFG liquidity, ensuring the DAO regains control of the full 1,276,162 CFG.</li>
</ul>
<h2><a name="p-19642-change-or-improvement-5" class="anchor" href="#p-19642-change-or-improvement-5" aria-label="Heading link"></a>Change or improvement</h2>
<ul>
<li>Recover DAO Assets: Return 1,276,162 CFG to the Centrifuge DAO Treasury</li>
</ul>
<h2><a name="p-19642-alignment-to-the-mission-of-centrifuge-dao-6" class="anchor" href="#p-19642-alignment-to-the-mission-of-centrifuge-dao-6" aria-label="Heading link"></a>Alignment to the mission of Centrifuge DAO</h2>
Centrifuge’s mission is to connect real-world assets to DeFi through a transparent and accessible protocol. The initial liquidity provided by the CFG DAO to Omnipool was meant to kickstart trading and ensure deep liquidity. Now that trading has been discontinued, withdrawing 1,276,162 CFG from Omnipool where CFG trading was suspended is a way to protects Centrifuge DAO’s assets.

CP170: Withdrawal of Centrifuge DAO’s CFG Liquidity from Hydration

Hi there. 
Thank you for posting this proposal. 
I know how you supported the Centrifuge Protocol since the beginning and how you are supporting it right now. 
However, I would like to highlight to you that with <a href="https://github.com/centrifuge/cps/blob/main/cps/CP128/CP128.md" rel="noopener nofollow ugc">CP128</a> CFG DAO applied the support for milestone-based funding instead of retroactive compensation.
Caveat:
<blockquote>
Retroactive proposals do not apply. Retroactive funding is where the work has already been delivered and the proposal is asking for compensation to cover this work done.
</blockquote>
Goal:
<blockquote>
Avoid mismanagement of funds by proposers. Establish a clear process and expectation that, in order to receive funds from the Centrifuge Treasury, proof of delivery must be provided.
</blockquote>

0xjulcaesar

CP169: Withdrawn

Good day 
Thanks, everyone, for voting. 
The proposal has successfully passed.

CP168: Renewal Treasury Advisory Group funding

Good day,
The proposal did not reach the required quorum of 4 million CFG and has therefore been rejected.
The author may resubmit the proposal for consideration.
<div class="lightbox-wrapper"><a class="lightbox" href="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/9/9134619c31b51002591d1632ca6d82b0570fbabb.png" data-download-href="/uploads/short-url/kIxsuK2DA7lX6EQZoeCEmwEPoAX.png?dl=1" title="image"><img src="https://europe1.discourse-cdn.com/flex013/uploads/centrifuge1/original/2X/9/9134619c31b51002591d1632ca6d82b0570fbabb.png" alt="image" data-base62-sha1="kIxsuK2DA7lX6EQZoeCEmwEPoAX" width="278" height="290"><div class="meta"><svg class="fa d-icon d-icon-far-image svg-icon" aria-hidden="true"><use href="#far-image"></use></svg>image278×290 9.44 KB<svg class="fa d-icon d-icon-discourse-expand svg-icon" aria-hidden="true"><use href="#discourse-expand"></use></svg></div></a></div>

Centrifuge

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