Tokenized offers can be exchanged, loaned and used as guarantees in the main Solana protocols.
Centrifugal, a platform focused on the real world chain (RWAS), announced today on May 22, that it launched RWA products of institutional quality on the Solana blockchain.
The first token, Dejtrsy, represents the short-term American treasury bills and is now available on three Solana platforms: Raydium trading protocol, Kamino loan platform and structured yield aggregator Lulo.
The launch occurs while Solana’s Solana’s market capitalization recently reached a new $ 13 billion summit, according to Defillama. It relies on the newly launched derwa standard of centrifuge, which supports “freely designed transferable tokens to integrate transparent into DEFI”, according to a press release seen by the DESIGHT.
Centrifugal notes that these tokens move to “Solana Speed”, allowing users to treat them as they would do any other crypto – which means that you can exchange, lend them or collateralize them.
“We are currently focusing on expanding derwa coverage through basic asset classes with strong institutional interest,” said CEO Centrifuge Bhaji Illuminati, alluding to the upcoming plans:
“Right now, it is tokenized treasure bills and in a few weeks, we will announce our next higher investment quality product that will be available for the Solana ecosystem.”
Centrifugal currently has a total locked value (TVL) of around $ 441 million and a market capitalization of $ 115 million, according to Defilma Data. Meanwhile, the RWA centrifugal protocol is the 8th largest by TVL. According to TRACXN, the company has collected more than $ 27 million out of five financing rounds.
What’s in store?
When asked how she sees the adoption of RWA evolving on Solana, Illuminati said that she expected to see more in -depth integration through the ecosystem in the next 6 to 12 months. “The native composibility on Solana allows loan markets, performance strategies and structured products to transparently incorporate Derwa,” she said.
She noted that the protocols are already moving towards the support of direct guarantees and the generation of elements, while new DEFI construction blocks emerge to support institutional integration and unlock secondary liquidity. “There will be a place for authorized and freely transferable products in Solana’s ecosystem, and we are happy to provide both,” she added.
Nick Ducoff, responsible for institutional growth at the Solana Foundation, said in a press release in the press release: “At Solana, we focus on faster, more efficient and more relevant yield for the real economy. Real assets are an essential element of this vision and freely transferable tokens allow it to be done. ”
Illuminati also suggested that the expansion of the centrifuge would not stop with Solana. “We started with Solana to take advantage of her performance and composability, but EVM support is coming soon,” she said. “We will expand according to the demand for ecosystems, with interoperability and institutional preparation as key priorities.”
Recently, Centrifuge has teamed up with Wormhole to launch a Multichain tokenization platform. The collaboration also included Anemoy, a native web3 asset manager built on a centrifuge.
Elsewhere in Solana Defi, earlier this week, the Interoperability Interoperability Protocol of Chainlink (CCIP) was deployed on Solana, giving developers ecosuystem access to Oracle data flows.
