Centrifuge Review
Lending Protocols · Official site ↗
By DifiCalc Research Team · Published Sep 20, 2026 Data verified Sep 20, 2026 via DeFiLlama
Onchain asset management infrastructure — tokenized Treasuries, credit and equities from top managers
Best for: DeFi users who want diversified, rated institutional funds inside a single onchain vault
Risk Assessment
Centrifuge reported $1.6B TVL in Q2 2026 (range $1.4-1.7B through the year) with 20+ security reviews across V3 and continuous audits by Spearbit, Sherlock and yAudit. Rated A- rather than A because underlying funds are issued by third-party managers with issuer and custodian risk, redemptions are asynchronous and can queue, and higher yields on credit products carry genuine default risk.
Fees
| Management | fund-level fees embedded in NAV, typically 0.3-1% annually |
| Protocol | protocol fee switch active; fees paid by issuers |
| Withdrawal | ERC-7540 async redemptions may be queued |
Top Markets
| Asset | Type | Utilization | 30d APY |
|---|---|---|---|
| JTRSY | savings | — | 4.4% |
| JAAA | savings | — | 6.9% |
| ACRDX | savings | — | 7.6% |
| HYB | savings | — | 8.2% |
Strengths
- ✓20+ security reviews across V3, with recurring audits by Spearbit, Sherlock and yAudit
- ✓Rated institutional funds — JTRSY holds S&P 'AAAf' fund credit quality
- ✓Broadest onchain asset coverage: Treasuries, CLOs, high yield, equities and private credit
- ✓ERC-7540 async vault standard co-authored by Centrifuge, now in OpenZeppelin contracts
Weaknesses & Risks
- !Third-party fund managers create issuer and custodian risk outside the core contracts
- !Async redemptions can queue; instant liquidity relies on committed facilities and DEX depth
- !Treasury products yield only ~4%; higher yields require taking credit risk
Compare Centrifuge with alternatives
Centrifuge FAQ
What is Centrifuge?
Centrifuge is a DeFi lending protocol, founded in 2021, live on ethereum, base, arbitrum, avalanche, bsc, solana. Onchain asset management infrastructure — tokenized Treasuries, credit and equities from top managers
What APY can I earn on Centrifuge?
Current yields typically range from 3.5% to 9% APY, with a typical rate around 5.5%. APY varies with market conditions, utilization and token emissions — always verify live rates before depositing.
Is Centrifuge safe?
DifiCalc risk grade: A-. Centrifuge reported $1.6B TVL in Q2 2026 (range $1.4-1.7B through the year) with 20+ security reviews across V3 and continuous audits by Spearbit, Sherlock and yAudit. Rated A- rather than A because underlying funds are issued by third-party managers with issuer and custodian risk, redemptions are asynchronous and can queue, and higher yields on credit products carry genuine default risk. Audits: Spearbit, Sherlock, Trail of Bits, yAudit. As with all DeFi, smart-contract and market risk remains — never deposit more than you can afford to lose.
What fees does Centrifuge charge?
Management: fund-level fees embedded in NAV, typically 0.3-1% annually. Protocol: protocol fee switch active; fees paid by issuers. Withdrawal: ERC-7540 async redemptions may be queued.
Run the numbers yourself
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Information last reviewed in 2026. APY figures are indicative ranges from protocol data and may differ from live rates. This page is for informational purposes only and is not financial advice.