-
Bitcoin $94,051.4428
-1.79% - Ethereum
$2,640.3098
-6.05% - Tether USDt
$0.9999
-0.03% - XRP
$2.4086
-5.70% - BNB
$627.2748
-4.14% - Solana
$150.2778
-10.42% - USDC
$0.9999
-0.01% - Dogecoin
$0.2216
-8.28% - Cardano
$0.7161
-6.45% - TRON
$0.2454
0.40% - Chainlink
$16.0771
-8.40% - Stellar
$0.3122
-5.43% - Avalanche
$22.8989
-6.66% - Sui
$2.9878
-10.31% - Litecoin
$121.8764
-4.92% - Toncoin
$3.5600
-5.29% - Hedera
$0.2111
0.61% - UNUS SED LEO
$9.4439
-3.33% - Shiba Inu
$0.0...01416
-8.44% - MANTRA
$8.2148
-2.64% - Polkadot
$4.6257
-6.37% - Hyperliquid
$20.7254
-12.07% - Bitcoin Cash
$304.5757
-6.43% - Ethena USDe
$1.0004
-0.01% - Bitget Token
$4.8105
-3.54% - Dai
$1.0001
0.01% - Uniswap
$8.1825
-8.98% - Monero
$233.1832
-0.15% - NEAR Protocol
$3.2365
-5.75% - Pepe
$0.0...08385
-9.94%
What currency does Centrifuge(CFG) currency belong to?
Centrifuge's native currency, CFG, is an Ethereum-based ERC-20 token primarily used for transactions, collateral, and governance within the decentralized finance platform.
Dec 19, 2024 at 08:27 am
What Currency Does Centrifuge (CFG) Currency Belong To?
Introduction
Centrifuge is a decentralized finance (DeFi) platform that enables real-world assets (RWAs) to be tokenized and traded on the blockchain. CFG is the native currency of the Centrifuge ecosystem, primarily used for:
- Transaction fees: Covering gas costs for transactions on the Centrifuge chain.
- Collateral: Backing loans and providing security for borrowers.
- Governance: Participating in the Centrifuge decentralized autonomous organization (DAO).
Blockchain Classification
Centrifuge is a cross-chain platform, meaning it operates on multiple blockchain networks. Currently, it supports the following blockchains:
- Ethereum
- Polygon
- Avalanche
- Fantom
CFG is a token on the Ethereum blockchain. It is an ERC-20 token, which follows the Ethereum token standard for smart contracts. This means that CFG can be stored in Ethereum wallets, transferred on the Ethereum network, and used in decentralized applications (dApps) built on top of Ethereum.
Token Properties
As an ERC-20 token, CFG has the following characteristics:
- Fixed supply: There will only ever be 100 million CFG tokens in circulation.
- Fungibility: Each CFG token is interchangeable with any other CFG token.
- Transferability: CFG can be sent and received between Ethereum addresses.
- Divisibility: CFG can be divided into smaller fractions, allowing for precise payments.
Additional Information
- Token symbol: CFG
- Token type: ERC-20
- Blockchain: Ethereum (primarily)
- Initial token distribution: Private sale and public crowdsale
- Circulating supply: Approximately 30.1 million CFG as of February 2023
- Total value locked (TVL): Over $200 million as of February 2023
Steps to Utilize CFG Currency
- Acquire CFG: Purchase CFG tokens on cryptocurrency exchanges or DeFi platforms.
- Set up a compatible wallet: Create or import an Ethereum wallet that supports ERC-20 tokens, such as MetaMask or Coinbase Wallet.
- Fund your wallet: Transfer CFG tokens to your Ethereum wallet.
- Interact with the Centrifuge ecosystem: Use CFG to pay transaction fees, provide collateral, or participate in governance.
- Monitor your CFG balance: Track your CFG tokens using blockchain explorers or wallet dashboards.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
- Super USDT: A New Interoperable Token Based on USDT for the OP Superchain Ecosystem
- 2025-02-25 03:50:28
- CZ's Portfolio Allocation: A Focus on BNB
- 2025-02-25 03:50:28
- Bybit Hack: Experts Suggest Rolling Back Ethereum Blockchain to Recover $1.5B Looted by Lazarus Group
- 2025-02-25 03:50:28
- Chainlink (LINK) Price Faces Downward Correction as Netflow Signals Upcoming Selling Pressure
- 2025-02-25 03:50:28
- XRP Could Hit $10 This Cycle, but Solana Layer 2 Crypto Solaxy ($SOLX) Could Outperform
- 2025-02-25 03:50:28
- Solana (SOL) Price Dips Below Key Support – Will It Bounce or Break?
- 2025-02-25 03:50:28
Related knowledge
What are the long-term investment risks of Bitcoin?
Feb 22,2025 at 05:30pm
Key PointsVolatility and price fluctuationsRegulatory uncertaintySecurity risksCompetition from altcoinsMarket manipulation and scamsTransaction feesEnvironmental concernsLong-Term Investment Risks of BitcoinVolatility and Price FluctuationsBitcoin's high volatility is a double-edged sword. While it has the potential to generate substantial returns, it ...
What are the main contents of Bitcoin's "white paper"?
Feb 21,2025 at 04:36am
Key Points:Understanding Bitcoin's Genesis: The White Paper's IntroductionA Decentralized Digital Currency: Bitcoin's Core ConceptBlockchain Technology: The Foundation of Bitcoin's Immutable LedgerProof-of-Work: Securing Bitcoin's NetworkThe Design of Bitcoin's Currency: Issuance, Scarcity, and DivisibilityBitcoin's Potential Applications and Future Pro...
How does Bitcoin's distributed ledger ensure consistency?
Feb 22,2025 at 10:06pm
Key Points:Bitcoin employs a distributed ledger, also known as a blockchain, to maintain a tamper-proof and consistent record of transactions.The blockchain is a decentralized network of computers that collectively validate and store transaction data.Bitcoin's distributed ledger ensures consistency through consensus mechanisms and cryptographic algorith...
What does the Cryptographic Fundamentals of Bitcoin consist of?
Feb 21,2025 at 12:06pm
Key PointsUnderstanding the cryptographic algorithms used in BitcoinFamiliarization with the Bitcoin blockchain and its underlying mechanicsExamination of the security measures that protect Bitcoin from attackAnalysis of the decentralized nature of Bitcoin and its implicationsDiscussion of the scalability and transaction fee issues associated with Bitco...
What is Bitcoin's relationship with blockchain technology?
Feb 22,2025 at 07:00pm
Bitcoin's Intertwined Relationship with Blockchain TechnologyKey Points:Definition of blockchain technology and its decentralized natureBitcoin's utilization of blockchain for secure and immutable transactionsThe role of blockchain in verifying and confirming transactionsEvolution of blockchain technology beyond Bitcoin's cryptocurrency applicationsUnde...
How is Bitcoin's "double-spending" problem solved?
Feb 23,2025 at 02:54am
Key Points:The double-spending problem refers to the potential for a digital currency transaction to be reversed, allowing the same funds to be spent multiple times.Bitcoin solves this problem through the use of a decentralized blockchain, a public ledger that records all transactions permanently and securely.The immutability and transparency of the blo...
What are the long-term investment risks of Bitcoin?
Feb 22,2025 at 05:30pm
Key PointsVolatility and price fluctuationsRegulatory uncertaintySecurity risksCompetition from altcoinsMarket manipulation and scamsTransaction feesEnvironmental concernsLong-Term Investment Risks of BitcoinVolatility and Price FluctuationsBitcoin's high volatility is a double-edged sword. While it has the potential to generate substantial returns, it ...
What are the main contents of Bitcoin's "white paper"?
Feb 21,2025 at 04:36am
Key Points:Understanding Bitcoin's Genesis: The White Paper's IntroductionA Decentralized Digital Currency: Bitcoin's Core ConceptBlockchain Technology: The Foundation of Bitcoin's Immutable LedgerProof-of-Work: Securing Bitcoin's NetworkThe Design of Bitcoin's Currency: Issuance, Scarcity, and DivisibilityBitcoin's Potential Applications and Future Pro...
How does Bitcoin's distributed ledger ensure consistency?
Feb 22,2025 at 10:06pm
Key Points:Bitcoin employs a distributed ledger, also known as a blockchain, to maintain a tamper-proof and consistent record of transactions.The blockchain is a decentralized network of computers that collectively validate and store transaction data.Bitcoin's distributed ledger ensures consistency through consensus mechanisms and cryptographic algorith...
What does the Cryptographic Fundamentals of Bitcoin consist of?
Feb 21,2025 at 12:06pm
Key PointsUnderstanding the cryptographic algorithms used in BitcoinFamiliarization with the Bitcoin blockchain and its underlying mechanicsExamination of the security measures that protect Bitcoin from attackAnalysis of the decentralized nature of Bitcoin and its implicationsDiscussion of the scalability and transaction fee issues associated with Bitco...
What is Bitcoin's relationship with blockchain technology?
Feb 22,2025 at 07:00pm
Bitcoin's Intertwined Relationship with Blockchain TechnologyKey Points:Definition of blockchain technology and its decentralized natureBitcoin's utilization of blockchain for secure and immutable transactionsThe role of blockchain in verifying and confirming transactionsEvolution of blockchain technology beyond Bitcoin's cryptocurrency applicationsUnde...
How is Bitcoin's "double-spending" problem solved?
Feb 23,2025 at 02:54am
Key Points:The double-spending problem refers to the potential for a digital currency transaction to be reversed, allowing the same funds to be spent multiple times.Bitcoin solves this problem through the use of a decentralized blockchain, a public ledger that records all transactions permanently and securely.The immutability and transparency of the blo...
See all articles
