Centrifuge

Centrifuge is a real-world asset protocol that connects traditional financial assets — such as invoices, loans, and other off-chain receivables — to decentralised finance infrastructure. Its purpose is to let businesses borrow against those assets without going through conventional intermediaries, and to give lenders on-chain access to yield streams that originate in the real economy. The CFG token is the native asset of the Centrifuge network and sits at the centre of its governance and fee mechanics.

Centrifuge operates its own blockchain, built on Substrate and connected to the broader Ethereum ecosystem, where it tokenises pools of real-world assets as on-chain tranches. Originators lock off-chain collateral into those pools, borrowers draw liquidity against it, and the CFG token is used to pay network fees, participate in governance, and stake on the chain. The protocol has a block time recorded as zero minutes in the stored data, which likely reflects a data gap rather than a literal characteristic of the chain.

The stored data does not include a specific fee revenue figure, so no direct measure of protocol income or its distribution can be reported here. What the data does show is that CFG has a circulating supply of 380,384,016 tokens against no recorded maximum supply, with 55.94% of the supply issued at this point in time. The ratio of fully diluted value to market cap stands at 1.79 (point-in-time), meaning the total value of all tokens that could ever circulate is roughly 1.79 times the current market capitalisation, and a dilution overhang of 78.77% reflects the share of supply not yet in circulation.