Fusionist

Maker

Cryptocurrency

Sleep

Centrifuge

<p>Cryptocurrency Centrifuge (CFG) has seen its price surge by more than 45% over the last 48 hours and 20% today alone. This comes on the heels of a strategic collaboration between the decentralized finance protocol Centrifuge and the stablecoin platform MakerDAO.</p>
<p><strong>The Power of Partnership</strong> <br>According to crypto analyst <a href="https://twitter.com/JxTolan/status/1737836727115620692" target="_blank" rel="noopener noreferrer nofollow">James Tolan (@JxTolan on Twitter)</a>, the partnership with MakerDAO has been “vital” to Centrifuge’s recent success. He outlines how the two products work together to create a new liquidity stream for real-world assets:</p>
<p>“Centrifuge allows users to create digital tokens that represent real-world assets like invoices or real estate. The asset owners can get a loan on the blockchain backed by their real-world asset tokens.”</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Don’t Sleep on this Explosive Crypto Airdrop!&nbsp; <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>Install the <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Getgrass" href="https://captainaltcoin.com/go/getgrass/" data-shortcode="true"><strong>GetGrass extension</strong></a> ASAP – the more points you score, the bigger your free crypto payoff! This red-hot airdrop could set you up for the future, but only if you <strong><a href="https://captainaltcoin.com/go/getgrass/" target="_blank" rel="noopener noreferrer nofollow">take action</a></strong> right now!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong>Expanding Access to Capital</strong><br> Here’s how the partnership connects these real-world asset-based tokens to MakerDAO’s decentralized credit capabilities:</p>
<p>“Centrifuge assets can be locked in Maker Vaults as collateral to generate DAI. The stablecoin is backed by the underlying real-world asset tokenised with Centrifuge.”</p>
<p>This gives asset holders a new way to access capital against their property or unpaid invoices. It also diversifies the collateral behind DAI, the largest decentralized stablecoin.</p>
<p>Tolan summarizes the benefits for each protocol: “For Maker this diversifies the collateral type in the Vaults, extending beyond crypto assets. Traditional collateral makes DAI more resilient. For Centrifuge, it provides a source of liquidity for the borrowers on the platform, allowing Centrifuge to onboard more originators.”</p>
<p><strong>What’s Next for Centrifuge? </strong><br>Tolan believes this is just the start, saying: “The next step for Centrifuge is to expand this approach to protocols like Aave and Frax Finance.”</p>
<p>With CFG up over 45% in the last two days, the market clearly likes the potential for Centrifuge to bring more real-world assets on-chain through collaborations. As Centrifuge themselves said recently: “this is the evolution of the RWA [real-world asset] x Stablecoin saga.”</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/fusionist-ace-surges-30-as-it-secures-binance-listing-analysts-set-their-price-targets/" target="_blank" rel="noopener noreferrer nofollow">Fusionist (ACE) Surges 30% as It Secures Binance Listing: Analysts Set Their Price Targets</a></li>
 <li><a href="https://captainaltcoin.com/veteran-crypto-analyst-critical-ethereum-signal-points-to-brutal-altcoin-run-ahead/" target="_blank" rel="noopener noreferrer nofollow">Veteran Crypto Analyst: Critical Ethereum Signal Points to “Brutal” Altcoin Run Ahead</a></li>
 <li><a href="https://captainaltcoin.com/diversifying-your-digital-portfolio-top-altcoins-set-to-explode-in-2024-bonk-fil-nugx/" target="_blank" rel="noopener noreferrer nofollow">Diversifying Your Digital Portfolio: Top Altcoins Set to Explode in 2024 (BONK, FIL, NUGX)</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-has-centrifuges-cfg-been-pumping-in-the-last-two-days-this-strategic-partnership-plays-a-big-role/" rel="noopener noreferrer nofollow">Why Has Centrifuge’s CFG Been Pumping in the Last Two Days? This Strategic Partnership Plays a Big Role</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Has Centrifuge’s CFG Been Pumping in the Last Two Days? This Strategic Partnership Plays a Big Role

Table of Contents

CaptainAltcoin

Other articles published on Dec 22, 2023

Consensys voices concerns over IRS proposed rulemaking for crypto

Hong Kong Financial Regulator Prepared to Accept Applications for Spot Crypto ETFs

Here Are 44 Altcoins That Might Be Listed On South Korea’s Largest Cryptocurrency Exchange Upbit

Insight into XRP’s Recent Trends and Sentiment Oscillations

Celestia and Terra Classic See Modest Corrections as NuggetRush Presale Passes $1 Million

Clock Ticking: 6 Hours Left in MetaWin's Thrilling $1 Million USDC Prize Race

Join our free newsletter for daily crypto updates!