Question 1

What is Centrifuge?

Accepted Answer

Centrifuge is a protocol built to connect real world assets to decentralised finance. Its aim is to close the gap between businesses that hold illiquid assets, such as invoices or royalties, and investors looking for stable yield. The system enables companies to tokenise their financial documents into non-fungible tokens, called Business NFTs, which can then be used as collateral on lending platforms.

The protocol was designed to create a Global Business Graph, a network of interconnected buyers, suppliers, and financiers. By anchoring financial documents on chain and linking them to off-chain data, Centrifuge creates a single verifiable source of truth for business interactions. This helps reduce reliance on third parties, lowers costs, and makes financing more accessible.

Centrifuge operates its own blockchain, called Centrifuge Chain, which is based on Substrate. The chain anchors states from the peer-to-peer document exchange network and bridges them to Ethereum. This hybrid model provides private off-chain exchange of sensitive business data while preserving security and auditability on chain.

Question 2

What is CFG?

Accepted Answer

CFG is the native token of Centrifuge. It underpins the system through staking, governance, and transaction utility.

- **Staking and validation**: Validators stake CFG to secure the network, propose blocks, and anchor states of off-chain documents. Delegators can also stake CFG by assigning it to validators, sharing in rewards. Misbehaviour is punished through slashing of the bonded tokens.  
- **Transaction fees**: CFG is used to pay fees on Centrifuge Chain. Validators may charge these fees for processing transactions and anchoring document states.  
- **Governance**: CFG holders take part in the protocol’s governance by voting on upgrades, parameter changes, and the allocation of development funds. This ensures that those who use and secure the system guide its long-term evolution.

Rewards are distributed to validators and delegators for securing the network, while over time the system shifts toward fees as the primary incentive mechanism.

Question 3

Technical architecture

Accepted Answer

Centrifuge Chain uses a proof of stake model with a nominated validator selection algorithm. Blocks are proposed through BABE and finalised with GRANDPA consensus, creating fast and secure block production. Anchors record the state of off-chain document exchanges, allowing Business NFTs to represent assets like invoices directly on chain.

The network design allows operational nodes to exchange documents privately while publishing their verified states for use in decentralised finance. This architecture combines privacy, verifiability, and liquidity in a single system.

Question 4

Who created Centrifuge and CFG?

Accepted Answer

Centrifuge was co-founded in 2017 by Lucas Vogelsang and Martin Quensel. Vogelsang currently serves as CEO and previously co-founded the e-commerce company DeinDeal. Quensel brings deep expertise in financial systems and blockchain development. Together they set out to improve liquidity access by tokenising real world assets and integrating them into DeFi infrastructure.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	CFG-USDT CFGUSDT	binance	AA	0.09420USDT	-0.95%	4,336,551.30CFG	5,072	0.09510USDT	0.09640USDT
2	CFG-USD CFG-USD	coinbase	AA	0.09410USD	-0.53%	1,278,342.00CFG	708	0.09460USD	0.09600USD
3	CFG-USDT CFG_USDT	whitebit	BB	0.09420USDT	-0.11%	1,147,079.50CFG	2,188	0.09430USDT	0.09660USDT
4	CFG-TRY CFGTRY	binance	AA	4.73TRY	0.19%	444,576.30CFG	481	4.72TRY	4.78TRY
5	CFG-USDC CFG_USDC	whitebit	BB	0.09380USDC	-1.26%	184,075.20CFG	186	0.09500USDC	0.09680USDC
6	CFG-USDC CFGUSDC	binance	AA	0.09430USDC	-0.53%	165,077.80CFG	73	0.09480USDC	0.09560USDC
7	CFG-EUR CFG-EUR	okex	A	0.08449EUR	0.63%	8,574.43CFG	15	0.08396EUR	0.08646EUR
8	CFG-TRY CFG-TRY	okex	A	4.68TRY	0.00%	0CFG	0	4.68TRY	4.68TRY
9	CFG-USD CFG_USD	cryptodotcom	AA	0.09403USD	-1.02%	960.00CFG	8	0.09500USD	0.09500USD
10	CFG-USDT cfg_usdt	lbank	C	0.09410USDT	-0.84%	3,684,339.10CFG	84,115	0.09490USDT	0.09640USDT
11	CFG-THB THB_CFG	bitkub	C	3.18THB	1.17%	3,190,730.80CFG	2,967	3.15THB	3.25THB
12	CFG-KRW KRW-CFG	upbit	B	126.00KRW	-0.79%	3,165,748.80CFG	583	127.00KRW	129.00KRW
13	CFG-KRW CFG_KRW	bithumbkorea	-	125.00KRW	0.00%	1,447,642.24CFG	411	125.00KRW	128.00KRW
14	CFG-USDT CFGUSDT	toobit	C	0.09410USDT	-0.95%	1,062,398.50CFG	6,250	0.09500USDT	0.09640USDT
15	CFG-USDT CFG_USDT	bitunix	C	0.09410USDT	-0.84%	760,861.70CFG	6,701	0.09490USDT	0.09630USDT
16	CFG-USDT CFG_USDT	bydfi	-	0.09400USDT	-0.53%	590,072.85CFG	2,801	0.09450USDT	0.09590USDT
17	CFG-TRY CFGTRY	btcturk	E	4.71TRY	-1.22%	153,921.30CFG	45	4.77TRY	4.94TRY
18	CFG-BTC BTC-CFG	upbit	B	0.0₅1080BTC	0.00%	0CFG	0	0.0₅1080BTC	0.0₅1080BTC
19	CFG-USDT CFGUSDT	btcturk	E	0.09437USDT	0.10%	2,707.00CFG	6	0.09428USDT	0.09798USDT
20	CFG-USDT cfgusdt	huobipro	C	0.09590USDT	4.13%	150.60CFG	1	0.09210USDT	0.09590USDT
21	CFG-USDT USDT-CFG	upbit	B	0.09308USDT	0.00%	0CFG	0	0.09308USDT	0.09308USDT
22	CFG-USDT CFG_USDT	poloniex	C	0.2000USDT	0.00%	0CFG	0	0.2000USDT	0.2000USDT