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About CFG

Centrifuge (CFG) is a cryptocurrency launched in 2020. CFG has a current supply of 526.16M with 473.10M in circulation. The last known price of CFG is 0.645910386556 USD and is 0.073570863505 over the last 24 hours. It is currently trading on active market(s) with $1.66M traded over the last 24 hours. More information can be found at https://centrifuge.io/.

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CFG Price Statistics
CFG’s Price Today
24h Price Change
+$0.07357086350512.85%
24h Volume
$1.66M55.75%
24h Low / 24h High
$0.32632904 / $0.3459927
Volume / Market Cap
0.005423641762
Market Dominance
0.02%
Market Rank
#208
CFG Market Cap
Market Cap
$305.58M
Fully Diluted Market Cap
$339.85M
CFG Price History
7d Low / 7d High
$0.28050964 / $0.39258945
All-Time High
$2.58Oct 14, 2021
All-Time Low
$0.14045445Jan 02, 2023
CFG Supply
Circulating Supply
473.10M
Total Supply
526.16M
Max Supply
0
Updated Feb 23, 2024 10:34 pm
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CFG
Centrifuge
$0.645910386556
$0.073570863505(+12.85%)
Mkt Cap $305.58M
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Frequently Asked Questions

  • What Is Centrifuge (CFG)?

    Centrifuge is a decentralized asset financing protocol. It connects decentralized finance (DeFi) with real-world assets (RWA) while trying to lower the cost of capital for small and mid-size enterprises (SMEs) and provide investors with a stable source of income. The main goal of the project is to generate profits that are not tied to volatile crypto assets; the developers are pursuing the task of transferring real monetary value from fiat to cryptocurrencies.

    Companies are using Centrifuge to access the liquidity that DeFi has to offer. They can tokenize real assets and use these tokens as collateral to access financing through Tinlake, a decentralized application (DApp) lending protocol. The Centrifuge blockchain is built on Polkadot (DOT) for speed and low fees, while its financial DApp Tinlake is built to access Ethereum (ETH) liquidity.

    Centrifuge provides liquidity to everyone and investors receive income and rewards in the form of CFG tokens. Centrifuge links assets such as invoices, real estate and royalties with decentralized finance (DeFi). Additionally, borrowers benefit from the fact that they can finance their real assets without banks or other intermediaries.

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  • Who Are the Founders of Centrifuge?

    Centrifuge was launched in 2017 by Lucas Vogelsang and Martin Quensel.

    Lucas Vogelsang is the founding engineer at Centrifuge and holds the position of the company’s CEO. Vogelsang co-founded e-commerce startup DeinDeal in 2010. After successfully selling DeinDeal to Ringier, he started working on another startup — KaufDA. Later, Vogelsang relocated to Silicon Valley to join Taulia as technical manager. In October 2017, he co-founded Centrifuge.

    Martin Quensel is a co-founder at Centrifuge and its current COO. Prior to Centrifuge, he co-founded Taulia. Quensel began his career at SAP as a software developer and architect.

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  • What Makes Centrifuge (CFG) Unique?

    The Centrifuge protocol tokenizes real-world assets by converting them to non-fungible tokens (NFTs). After that, they are funded through Tinlake. Tinlake is the first DApp built on the Centrifuge chain. It was created to access liquidity on Ethereum, while CFG has its own bridge to Ethereum.

    The features of Centrifuge include integration with other DeFi protocols. This feature allows Centrifuge users to get liquidity without slowdowns and protects DeFi protocols from destabilizing events by adding uncorrelated collateral. As a result, the cumulative risks are reduced and predatory lending and banks are replaced by smart contracts.

    As of June 2021, Centrifuge has the highest total value locked (TVL) on the Polkadot ecosystem. Moreover, the project claims to be among the first to launch a parachain on Polkadot. When the team designed the Centrifuge chain, operational speed and low fees were prioritized.

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  • How Many Centrifuge (CFG) Coins Are There in Circulation?

    CFG is the native token of the Centrifuge and it powers the entire network. There are three major use cases for CFG: staking, paying transaction fees and governance participation. The token is also used to reward the liquidity providers on Tinlake. As of June 2021, the total supply is 425,000,000 CFG, growing at a rate of 3% per year.

    The total supply of CFG tokens are distributed as follows: 27% to core contributors, 17.1% to total backers, 7.3% to rewards and grants, 9.5% to the community sale, 11.8% to foundation endowment, 7.1% to community grants, 10.8% to development grants and 8.3% to the early ecosystem.

    CFG sale took place on May 26, 2021, on Coinlist. The event was held in two stages and the supply of tokens was limited at 17 million for each round.

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  • How Is the Centrifuge Network Secured?

    Users pay transaction fees in CFG tokens and transaction aggregators on Polkadot receive a share of the fee for processing and storing data. These measures, as well as the NPoS (Nominated Proof-of-Stake) mechanism and the CFG rewards, encourage users to operate fairly and select data collators that provide censorship resistance.

    Overall, most of the security comes from the Polkadot relay chain. The use of Polkadot's protective mechanisms provides Centrifuge with a high level of security at a low cost.

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  • Where Can You Buy Centrifuge (CFG)?

    As of June 2021, CFG tokens can be traded on the BitZ platform.

    If you want to find out more about buying crypto, feel free to read our detailed guide.

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  • What is the all-time high price of Centrifuge (CFG)?

    The all-time high of CFG was 2.58 USD on 2021-10-14, from which the coin is now down 74.96471369937984%. The all-time high price of Centrifuge (CFG) is 2.58. The current price of CFG is down 74.96471369937984% from its all-time high.

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  • How much Centrifuge (CFG) is there in circulation?

    As of , there is currently 473.10M CFG in circulation. CFG has a maximum supply of 0.

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  • What is the market cap of Centrifuge (CFG)?

    The current market cap of CFG is 305.58M. It is calculated by multiplying the current supply of CFG by its real-time market price of 0.645910386556.

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  • What is the all-time low price of Centrifuge (CFG)?

    The all-time low of CFG was 0.14045445 , from which the coin is now up 359.8717851630902%. The all-time low price of Centrifuge (CFG) is 0.14045445. The current price of CFG is up 359.8717851630902% from its all-time low.

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  • Is Centrifuge (CFG) a good investment?

    Centrifuge (CFG) has a market capitalization of $305.58M and is ranked #208 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Centrifuge (CFG) price trends and patterns to find the best time to purchase CFG.

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