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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>
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<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>
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<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

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