Introduction to Centrifuge Connectors

Published on: 29.06.2022
Introduction to Centrifuge Connectors

Introduction to Centrifuge Connectors, Cross-chain hybrid solution launching in this three collaboration with Ava Labs, Moonbeam, and Nomad. Bring the trillion-dollar Real-World Asset (RWA) market on-chain

What is Centrifuge Connectors?

Connectors allows investors to provide liquidity into Centrifuge pools without having to bridge over to the Centrifuge chain. It provides a fully native experience for users on any supported chain.

It uses the Nomad Bridge and its functionality for cross-chain apps (xApps) as the underlying infrastructure. They believe that Nomad is the most secure bridge out there today for bridging to a number of other chains.

Centrifuge Connectors is a step forward in making that future a reality.

Ava Labs (the primary developers of the Avalanche blockchain), along with Moonbeam, and Nomad, share a joint vision for this future, and they happy to announce them as the inaugural partners for their cross-chain solution — Centrifuge Connectors

Who benefits from Connectors?

L1 & L2 Users. Users can provide liquidity to Pools on Centrifuge on any supported chain.

DeFi ProtocolsDeFi Protocols trying to grow their user-base can now onboard Centrifuge Real-World Assets. Connectors enables cross-chain protocols like Avalanche, Moonbeam, MakerDAO or Aave to tightly integrate across chains in a simpler and safer way by not relying exclusively on the liquidity native to the chain the protocol runs on.

The best of both worlds: not a bridge or a fork

Connectors is an innovative hybrid solution. It combines the benefits of a bridge — simple integration and low governance overhead, with the benefits of a fork — composability with pooled liquidity.

This novel approach also allows Connectors to avoid the technical complexity and operational challenges of traditional forks and bridges.

On a technical level, Connectors uses a set of Solidity contracts that can be deployed on top of any general-purpose EVM bridge to do the following:

  • Transfer a KYC-ed/permissioned Centrifuge Pool token to users across different chains
  • Allow users to directly redeem or invest into a pool using any native stablecoin on the target chain
  • Integrate into liquidation mechanisms for DeFi protocols so that they can liquidate LP tokens across chains

The Connectors contracts can use different bridges to access more chains but will initially target to support Nomad at launch. This abstraction means Centrifuge can scale to more chains quicker and more easily, bringing Centrifuge’s assets to even more users.

Centrifuge Connectors will be available publicly later this year, with more protocol integrations to be announced in the coming months.

About Centrifuge

Centrifuge is an open, decentralized operating system to connect the global financial supply chain. It allows participants to transact on a global network while maintaining ownership of their data, including their validated company details, their reputation, business relationships, and subsequent transactions.

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