March DROPCFG, Parachain strategy news, $5M TVL & more

This post was originally published here

Helena Flack

Mar 17 · 4 min read

Hello Centrifuge World!

It’s been an eventful month over at Centrifuge, our TVL is growing at an increasingly fast rate, and so has our work for the Polkadot ecosystem, and that’s not all, so read on to get up to speed with all our news for the month…

We have given $RAD a makeover and it’s now $CFG! 🤩

The artist formerly known as Radial token (RAD) will now be the Centrifuge (aka CFG) token as we wanted to keep the token on brand. The change will first be reflected on Amber on 22nd March, then it will be implemented on-chain once it is approved by the democracy proposal submitted on Mainnet on the 29th March, so don’t panic if you still see $RAD in your wallet for now.

🌀 More details 🌀

Woohoo our Parachain Launch Strategy is finally here ⛓️

We are DELIGHTED to announce our parachain launch strategy. By becoming a parachain Centrifuge hopes to strengthen its security, and gain access to the Polkadot network, and eventually by bridging to other chains, we will have the potential to connect to all other blockchains in the ecosystem.

🌀Read the post here 🌀

BOOM we surpassed $5m TVL! 💸

In case you have been in hiding, we have officially reached and surpassed $5M TVL! The number just keeps going up and there’s still plenty of pools to invest in. AND a kind reminder from my last post that our onboarding process has been improved; we reduced the investment entry amount to $5K and we also halved the lock up period to 30 days.

🌀 Tinlake 🌀

Introducing Chachacha 💃

You may or may not have heard about the launch of our relay chain testnet Chachacha, in any case we are super excited to contribute this testing environment for Polkadot’s parachain ecosystem! We started building Chachacha to prepare Centrifuge Chain for Rococo, Polkadot’s Parachain testnet but have since heard feedback from several teams that this would be a useful tool to prepare for Rococo, so here it is live and kicking.

🌀 Chachacha 🌀

Ring ring… it’s that time again 📞

This edition of the Community Call will be all about YOU, our wonderful community, and the potential for stepping into a more decentralized ecosystem. You will also get to hear about one of our highest yielding pool opportunities — @FortunaFi so get any of your burning questions ready for him, as well as sharing your opinions and ideas on the project with members of the Centrifuge team.

🌀 Call Details 🌀

Extra Extra! Read all about it 🗞

We got some nice articles mentioning Centrifuge in Coindesk, Cointelegraph and Decrypt in the last month talking about the SAFT raise and enterprises adopting DeFi.

A big thank you to ZeroKnowledge podcast for featuring Lucas on the latest episode where he talks about our work within the Polkadot ecosystem and why we are building on Polkadot. You can catch that here.

In case you also missed the PolkaDefi Demo Day, where we gave a demo of Tinlake and presented ChaChaCha, you can catch the recap of that here.

Any other business? 💼

We are still hiring… Wanna join an amazing team trying to revolutionise the world of DeFi? Well we are still hiring, so now is your chance to reach out if you want to join our mission.

Join the community and have your say! You can follow all our news and even chime in when you feel like it, you can find us on Discourse, Discord, Telegram and Twitter.

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