Centrifuge price
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About Centrifuge
Disclosures
Centrifuge risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Centrifuge. All crypto assets are risky, there are general risks in investing in Centrifuge. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
DeFi tokens
Decentralised Finance ("DeFi") tokens are crypto assets built on decentralised blockchain technology for financial applications or protocols. Risks linked to DeFi tokens include:
Enterprise Risk
Interactions between multiple DeFi protocols create a situation where a vulnerability or breakdown in one protocol can trigger a cascading effect, affecting other interconnected platforms.
Technology Risk
DeFi protocols frequently depend on external data sources or oracles, and any tampering or inaccuracies in these data streams can result in a lack of trust and reliability in the protocols.
Regulatory Risk
Governments and regulatory bodies around the world can introduce new regulations or ban certain aspects of the cryptocurrency market, affecting its legality and viability, which could affect token liquidity and/or value.
Legal Risk
Certain tokens may be used for operating a decentralised exchange platform which may contain additional risks:
- The platform may allow users to participate who have not been vetted or verified and therefore expose the possibility that users are interacting with sanctioned entities.
- The platform may be accessible in jurisdictions where some or all the exchange activity should be regulated. If a local regulator deemed the platform activity to be in breach of local regulation, they may request cessation or termination of the service which could affect token liquidity and/or value.
Market Risk
Given their novelty, the evolving technology involved and lack traditional asset structure, valuing crypto assets can be very difficult or impossible. This means valuations are determined by demand that is at risk of manipulation in various ways.
Centrifuge’s price performance
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Centrifuge FAQ
Centrifuge is a decentralized finance (DeFi) protocol that revolutionizes the tokenization of real-world assets. Centrifuge converts these assets into non-fungible tokens (NFTs), unlocking their value and enabling seamless integration with the broader DeFi ecosystem. The protocol's Tinlake decentralized application (DApp) acts as a gateway, providing access to the liquidity and functionality of the Ethereum blockchain.
Centrifuge offers several benefits to its users. One key advantage is the elimination of third-party intermediaries, such as banks, when obtaining loans for real-world assets. This provides borrowers an alternative financing option and expands their access to financial opportunities.
Additionally, Centrifuge's integration of real-world assets into the DeFi space unlocks a diverse range of financial tools that would otherwise be inaccessible through traditional financial systems.
You can buy CFG tokens on a number of different spot trading markets. One example is OKX which offers a CFG/USDT pair.
Swap your existing cryptocurrencies, including Bitcoin (BTC), Cardano (ADA), Tether (USDT), and USD Coin (USDC), for CFG with zero fees and no price slippage by using OKX Convert.
Dive deeper into Centrifuge
Purchasing cryptocurrency offers numerous benefits, including uninterrupted market access, fast transactions, and user autonomy over their assets. However, the notable drawback is the significant volatility that cryptocurrencies often exhibit.
While some volatility is necessary for trading opportunities, the crypto market tends to experience heightened fluctuations. This is where projects like Centrifuge (CFG) come into play, aiming to provide a less volatile alternative while retaining the advantages of cryptocurrencies.
What is Centrifuge?
Centrifuge is a decentralized asset financing protocol that bridges the gap between real-world assets (RWA) and decentralized finance (DeFi). By connecting these two realms, Centrifuge offers traders a stable source of income while reducing the cost of capital for small and mid-size enterprises (SMEs).
The project's primary objective is to generate profits independent of the volatility of traditional crypto assets. It aims to achieve this by facilitating the transfer of real monetary value from fiat currencies to the crypto space, providing a more stable and reliable trading option.
The Centrifuge team
The Centrifuge team, composed of Martin Quensel and Lucas Vogelsand, launched the project in 2017. Vogelsand, the founding engineer of Centrifuge, also holds the CEO position within the company. Before his involvement with Centrifuge, he co-founded DeinDeal, a well-known e-commerce startup, in 2010. Quensel, on the other hand, serves as the project's COO. Before his role at Centrifuge, he was also a co-founder of Taulia.
How does Centrifuge work?
Centrifuge allows its client companies to access the liquidity of DeFi. They get to tokenize real assets, and use these tokens as collateral for accessing financing using Tinlake, the project’s decentralized application (DApp) lending protocol. Centrifuge’s network was built on Polkadot, so it also gets access to fast speeds and low fees.Meanwhile, its financial DApp Tinlake was built to access the liquidity on Ethereum.
CFG: Centrifuge's native token
Centrifuge has its native cryptocurrency called CFG token. The CFG token was introduced in July 2021 and does not have a maximum supply. The total supply of CFG tokens is currently 430.01 million. As of June 2023, the circulating supply of CFG tokens is 360.26 million units.
CFG token use cases
The CFG token serves various use cases within the Centrifuge ecosystem. It is utilized for trading, investing, and staking activities. Additionally, the token powers the network infrastructure and the project's DApp. It is also employed for paying transaction fees and participating in governance decisions.
Distribution of CFG
The distribution of CFG tokens is as follows:
- 17.1 percent is allocated to private round funding.
- 8 percent is allocated to public funding rounds.
- 27 percent is allocated to the team.
- 11.8 percent is allocated for the development of the project.
- 7.3 percent is set aside for rewards.
- 11.8 percent is allocated to the foundation.
- 9.9 percent is allocated toward the ecosystem.
- 7.1 percent is allocated for grants.
Disclaimer
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.