Centrifuge App is a completely redesigned and unified platform for investing in real-world assets (RWAs) on-chain. Absolutely, the Centrifuge’s designers and engineers have overhauled the Centrifuge experience, using learnings from Tinlake — its previous app that has facilitated $387M in assets financed all time to create the new standard for seamless and intuitive investing on-chain.

Diving into the Centrifuge app and how it lays the foundation for what to expect in the future!

An app that is safe, reliable, and user-friendly is critical for creating an open and decentralized financial system available to everyone. That’s exactly why the team rebuilt the Centrifuge user experience, merging the sophistication and security of TradFi with the efficiency, scale, and innovation of DeFi.

KYC in seconds. Invest in minutes!

Interacting with the world of traditional finance requires KYC (“Know Your Customer”). It’s necessary for issuer compliance. Additionally, it is a vital step to enable investor protection in the event of a default.

As the bridge between TradFi and DeFi, we’re focused on building the necessary structure in a way that doesn’t detract from the investor experience.

Centrifuge stated that they rebuilt this process from the ground up so that it all takes place within the Centrifuge app. Users won’t need to create an account or go to a separate website to finish onboarding. The process takes less than 5 minutes to complete. Its goal is to make it so fast and seamless; you won’t even know you’re doing it.

Similarly, they have also completely automated KYB (“Know Your Business”) as part of this same flow, enabling institutional investors to take part in Centrifuge pools as easily as individuals can.

Prepared for a Multi-Chain Future

The Centrifuge app has been built with multi-chain support in mind. We’re building towards a world where people can invest in real-world assets on Centrifuge from any chain.

Multi-chain connects!

New connect wallet functionality allows users to pick which chain they want to interact with Centrifuge from, starting with Ethereum and Centrifuge Chain.

Connecting via an Ethereum wallet — MetaMask, Wallet Connect, or Coinbase Wallet — lets users invest in existing Ethereum-based pools.

Connecting with a Substrate wallet like Talisman or SubWallet lets users invest in new pools on Centrifuge Chain (coming soon!).

Integrations with other chains

Centrifuge embarked on the development of multi-chain support. Since then, its engineers have been perfecting functionality that will empower investors to interact with Centrifuge and invest in RWA pools from any supported chain. With the Centrifuge App, the foundation has been laid for Centrifuge’s multi-chain future.

ABOUT Centrifuge

Centrifuge is the institutional ecosystem for on-chain credit. The platform enables a radically faster, more cost-effective, and fully transparent model for connecting investors and borrowers with bankless liquidity. Centrifuge is unlocking economic opportunity for all with more equitable access to capital and credit.

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Centrifuge Investment From Coinbase. The Centrifuge strategic funding round from prominent industry players, including L1 Digital, BlockTower, Scytale and Coinbase Ventures.

While the overall crypto market has cooled, I’d say RWAs are hot. We’re leading the charge. I’m happy to share that more and more people are buying into our vision and joining the Centrifuge community.

Earlier this year, they shared the news that BlockTower Capital entered into a strategic partnership with Centrifuge. Today they’re happy to share that they’re growing the network even more.

As many of you might have noticed in the last months, BlockTower has become a very involved member of our community. What’s most exciting about their work together is that we’re working to onboard $150M of assets to Maker through Centrifuge.

About Centrifuge

Centrifuge a protocol for borrowing and lending money against RWAs. Its on-chain securitization providing investors direct access to credit opportunities to diversify their digital asset portfolio. Allows asset managers and institutional credit groups access to DeFi capital. The protocol unlocking economic opportunity for all by connecting people to borrow and lend money transparently and cost-effectively; free of rent-seeking intermediaries and the inefficiencies of traditional finance.

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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 Protocols. DeFi 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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SOURCE

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