Centrifuge Token Converts to Equity Shares in Historic Milestone

Centrifuge, a project in the real-world asset tokenization space, has achieved a historic milestone with the passage of CP172. This proposal allows for the conversion of its governance token, CFG, into equity shares on a 1:1 basis.

The restructuring involves reorganizing the Centrifuge Network Foundation into Centrifuge, Inc., a Cayman Islands exempted company. This new entity will be able to issue equity shares, which is not possible with a non-profit foundation structure.

Holders of CFG tokens can choose to participate in the conversion, but it's voluntary. Those who hold 100,000 or more tokens will be registered directly as shareholders, while smaller holders can access the conversion through a CoinList trust structure.