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The Centrifuge Governance

Centrifuge has evolved its structure to accelerate RWA adoption, boost transparency, and drive CFG value accrual. Per CP171(approved by CFG DAO token holders on October 30, 2025), active DAO governance has paused, shifting execution to a streamlined model under Centrifuge Network Foundation supervision. This change enables agility in the fast-evolving RWA space while keeping CFG holders in control of the protocol. The DAO tools remain paused but available for potential reactivation.

Roles & Focus​

RoleFocus
Centrifuge Network Foundation (CNF)Board-led oversight; manages treasury. Ensures all actions grow protocol adoption and CFG valueLong-term value accrual and protocol sustainability
Centrifuge LabsCNF service provider handling operations, development, growth and adoption.Development, growth and adoption
CFG Holders & CommunityCommunity driving engagement through local activations, events, and grassroots initiatives to spread Centrifuge's mission and awareness.Support protocol growth and adoption, strengthen CFG Value alignment, maintain oversight and transparency

Centrifuge Network Foundation (CNF)​

The Centrifuge Network Foundation (CNF) is a non-profit entity dedicated to stewarding the Centrifuge ecosystem's growth, funding core infrastructure, and ensuring long-term sustainability, RWA growth, and CFG value accrual. CNF maintains transparency via public dashboards and reports and aligns operations with CFG holder interests. Bhaji Illuminati, Lucas Vogelsang, Kevin Chan, Nick Cherney, Glenn Kennedy

Board Structure​

Centrifuge Foundation's board ensures diverse expertise in finance, tech, and governance:

  • Bhaji Illuminati — CEO & Co-Founder of Centrifuge Labs; expertise in scaling organisations and go-to-market strategies (e.g., Dragonboat, Taulia).
  • Lucas Vogelsang — Co-Founder of Centrifuge; led engineering at DeinDeal and Taulia.
  • Kevin Chan — Co-founder at Grove Labs; focuses on RWA adoption; previously at BlockTower and Deloitte.
  • Nick Cherney — Head of Innovation at Janus Henderson; ETF expert from VelocityShares and Barclays.
  • Glenn Kennedy — Founder of Leeward Management, advises on governance for Cayman foundations.

Get Involved​

Centrifuge Labs​

Bhaji Illuminati (CEO), Anil Sood (CSO & CGO), Martin Quensel (President), Jeroen Offerijns (CTO), Eli Cohen (CLO), Juergen Blumberg (COO)

Centrifuge Labs serves as the primary development and execution engine for the Centrifuge Protocol. Centrifuge Labs builds and maintains the open-source infrastructure powering Centrifuge. Centrifuge Labs is responsible for the growth and adoption of Centrifuge.

Centrifuge Labs Structure

Centrifuge Labs is a fully remote team emphasising diversity and shared values.

  • Bhaji Illuminati, CEO and Co-Founder, brings extensive experience in scaling marketplace tech companies and leading go-to-market strategies in fintech, having previously held roles at Dragonboat, Surkus, Social Native, and Taulia.
  • Anil Sood, Chief Strategy Officer and Co-Founder, is a leader in ETFs, capital markets, and asset management with expertise in crypto, having co-founded Anemoy and held roles at Knight Capital, Cantor Fitzgerald, Goldman Sachs, and Barclays.
  • Martin Quensel, President and Co-Founder, has built multiple startups, including Taulia and Ebydos, with expertise in financial supply chain management and developing regulated DeFi products.
  • Jeroen Offerijns, Chief Technology Officer and Co-Founder, leads technology for on-chain finance and protocol development, specialising in engineering security into large-scale systems.
  • Eli Cohen, Chief Legal Officer, has over 25 years of experience in financial services law, including at Baker & McKenzie, Euroclear Bank, Singapore Exchange, CME Group, and Block.One/Bullish.
  • Jürgen Blumberg, Chief Operating Officer, is an ETF trading veteran with over two decades of experience, having worked at BlackRock, Invesco, Goldman Sachs, and leading institutional adoption of tokenised assets.

Role and Responsibilities of Centrifuge Labs​

  • Execution & Operations: Handles strategy, product development, institutional partnerships, marketing, distribution, and revenue generation in the RWA space.
  • Growth & Adoption: by building and launching innovative and market-ready RWA tokenisation products, onboarding institutional capital and asset originators, and integrating with leading DeFi and TradFi partners.
  • Protocol Contributions: Provides core infrastructure, collaborates with users for adoption, and maintains open-source tools powering Centrifuge's ecosystem.
  • Alignment to CFG: All activities prioritise growing protocol TVL, revenue, and CFG token value.

Get Involved​

  • Careers: Explore opportunities at centrifuge.io.
  • Contribute: Join development via GitHub (link) or Discord (link).

Reinstatement Process​

Active DAO governance is paused. Execution now follows a streamlined model under the supervision of the Centrifuge Network Foundation. Token holders retain ultimate control of the protocol and can propose reinstating the DAO to transfer power back.

Process for reactivating the DAO:

  • Create a forum post with a complete proposal description following the CP0 template.
  • After 14 days of discussion, submit the final proposal on GitHub.
  • Initiate a 7-day Snapshot vote.
  • Notify all token holders through available media channels.
  • The off-chain vote requires a quorum of at least 4,000,000 CFG.