Centrifuge Says Governance Proposal CP172 Has Passed

RWA protocol Centrifuge said governance proposal CP172 has passed, and described it as the first token-to-tokenized-equity conversion in history. According to ChainCatcher, the company said it will move forward with the proposed restructuring after the necessary approvals and legal review are completed. Under the proposal, Centrifuge Network Foundation plans to reorganize and reregister as Centrifuge, Inc., a Cayman Islands exempted limited liability company, in order to issue equity. Eligible CFG holders would be able to exchange 1 CFG for 1 share of tokenized equity through the Centrifuge platform at no additional cost. Holders with at least 100,000 CFG would be directly registered as shareholders, while those with fewer tokens would participate through a trust structure in cooperation with CoinList. The conversion would be voluntary, and holders who do not participate could continue to hold or sell their tokens on the open market. Centrifuge said it will try to maintain market liquidity during the conversion period.