| General information | |
|---|---|
| Global rank: | 257 |
| Name: |
Centrifuge |
| Symbol: | CFG |
| Current coin price (PHP): | 19.95 ₱ |
| Last hour: | arrow_upward0.500 % |
| Last 24 hours: | arrow_downward-6.49 % |
| Last 7 days: | -2.72 %trending_down |
| Capitalisation (PHP): | 10 008 069 224.50 ₱ |
| Volume 24h (PHP): | 40 701 053.62 ₱ |
| Available supply: | 501 714 231.00 CFG |
| Total coin supply: | -1 CFG |
| Start date: | 2022-03-12 |
Centrifuge/Philippine Peso (CFG/PHP) price chart
Centrifuge/Philippine Peso (CFG/PHP) capitalisation and volume charts
Centrifuge is a unique decentralized protocol aimed at connecting the DeFi ecosystem with real-world assets. Its primary purpose is to lower capital costs for small and mid-sized enterprises (SMEs) and offer a stable source of income for investors. This is achieved by converting real-world financial assets into tokenized forms, bridging the gap between traditional fiat currencies and the cryptocurrency world.
The CFG token, pivotal to the Centrifuge ecosystem, has multiple uses. It primarily serves to provide liquidity to the system, acting as a reward mechanism for investors. The protocol's innovative approach includes tokenizing real-world assets as non-fungible tokens (NFTs), which are then used as collateral in the DeFi space through Tinlake, Centrifuge's decentralized application lending protocol. This method allows businesses to leverage DeFi liquidity by using their real-world assets, thus bypassing traditional banking routes.
Centrifuge was launched in 2017 by Lucas Vogelsang, the CEO, and Martin Quensel, the COO.