Centrifuge vaults

Centrifuge is open infrastructure for onchain asset management and real-world asset (RWA) tokenisation. Asset managers use it to issue fund shares as tokens on several blockchains, take subscriptions and redemptions in stablecoins such as USDC, and publish NAVs, while each product remains the responsibility of its manager. Centrifuge Labs develops the protocol under the oversight of the Centrifuge Network Foundation, according to its governance documentation.

Funds. Most listed products come from Anemoy, an asset manager that issues its funds on Centrifuge. The Janus Henderson Anemoy Treasury Fund (JTRSY) holds US Treasury bills with up to six months to maturity and offers daily redemptions; the Janus Henderson Anemoy AAA CLO Fund (JAAA) holds AAA-rated CLO tranches managed by Janus Henderson's securitised credit team; and the Janus Henderson Anemoy S&P 500 Fund (SPXA) tracks the index under an S&P Dow Jones Indices licence. Anemoy also offers ACRDX, a feeder into Apollo Diversified Credit Fund, and HYB, which tokenises New York Life Investment Management's US high yield bond strategy.

Eligibility and dealing. JTRSY, JAAA and SPXA are regulated funds in the British Virgin Islands, and JAAA and SPXA are open only to non-US professional investors. Under the investor guide, permissioned products require the manager to approve each wallet after onboarding checks such as KYC/AML and jurisdiction. Deposits settle instantly or as requests, while redemptions are always requests that the manager processes at the price applied at that time. deRWA tokens such as deJAAA and deJTRSY are freely transferable tokens linked to those funds, which holders can trade on DEXs or use as loan collateral.

Fees and risks. Fees are set by each manager in the product terms. Holders take the credit, interest-rate or equity risk of the underlying fund, rely on NAVs published by the manager and its dealing cadence, and receive the market price rather than NAV when selling deRWA tokens on a DEX.