Centrifuge (CFG) Price

Centrifuge is a lending protocol for decentralized finance (DeFi) that tries to make lending more available to small businesses while also offering a predictable yield for investors by introducing pooled liquidity into the world of conventional banking.

The project's main goal is to create profit that is not bound to volatile crypto assets; the developers are working on transferring real financial value from fiat to cryptocurrencies.

Thus, Centrifuge gives everyone liquidity, and shareholders earn payments and rewards in the shape of CFG tokens. Centrifuge connects assets like invoices, real estate, and royalties to decentralized financing (DeFi). Borrowers also profit from the fact that they can fund their real estate without the involvement of banks or other intermediaries.

Centrifuge (CFG) features and Updates

Centrifuge tokenizes physical assets by converting them into non-fungible tokens (NFTs). They are then funded through Tinlake.

Tinlake is the Centrifuge chain's first DApp. It was created to gain access to liquidity on Ethereum, whereas CFG has its own Ethereum bridge.

Centrifuge's features include unification with other DeFi protocols. This feature enables Centrifuge users to obtain liquidity without experiencing any delays and provides protection DeFi protocols from disruptive events by introducing uncorrelated collateral.

 As a result, the overall risk is reduced, and predatory lending and banks are being replaced by smart contracts.

CFG tokens are distributed in the following proportions: 27% to core contributors, 17.1% to total backers, 7.3% to rewards and grants, 9.5% to the community sale, 11.8% to foundation endowment, 7.1% to community grants, 10.8% to development grants, and 8.3% to the early ecosystem.

The Centrifuge (CFG) Team

Centrifuge (CFG) was founded by Lucas Vogelsang and Martin Quensel and launched in 2017.

Lucas Vogelsang: Centrifuge's CEO and founding engineer. In 2010, Vogelsang co-founded the e-commerce startup DeinDeal.

Martin Quensel: Co-founder at Centrifuge and its current Chief Operating Officer. Martin also co-founded Taulia before joining Centrifuge and started his career as a software developer and architect at SAP.