From e9af860b9b8dd2a9fd31047f4f815d21a689d82f Mon Sep 17 00:00:00 2001 From: Lorenzo Date: Thu, 21 Aug 2025 17:04:00 +0200 Subject: [PATCH 1/6] Create CP164.md --- cps/CP164.md | 81 ++++++++++++++++++++++++++++++++++++++++++++++++++++ 1 file changed, 81 insertions(+) create mode 100644 cps/CP164.md diff --git a/cps/CP164.md b/cps/CP164.md new file mode 100644 index 0000000..4024e5d --- /dev/null +++ b/cps/CP164.md @@ -0,0 +1,81 @@ +--- +cp: 164 +title: The Tokenization of Money Market Funds (TMMFs) +author: lschoenl +contributors: none +uses-component: +technical-proposal: no +requires-onchain: no +impacts/modifies: +status: +date-proposed: 2025-06-01 +date-ended: 2025-12-31 +--- + +### Short Summary + + We propose a research project titled “Tokenization of Money Market Funds (TMMFs) in DeFi”, starting in July 2025, with first results expected by the end of 2025. The project analyzes how tokenized MMFs improve efficiency, liquidity, and transparency compared to traditional MMFs, and explores their impact within DeFi ecosystems such as decentralized exchanges (DEXs) and lending protocols. The research will provide actionable insights for regulators, policymakers, and industry participants. We seek €10,000 in funding to support data collection, research assistance, IT infrastructure, and dissemination. + +### High Level Objective + +The primary objective is to understand the interaction between TMMFs, stablecoins, and traditional MMFs. Specifically, the project will: + +Assess whether TMMFs compete with or complement stablecoins. + +Analyze how TMMFs integrate as collateral in DeFi and their systemic implications. + +Evaluate efficiency gains in cost, settlement speed, and transparency compared to traditional MMFs. + +Provide a policy-relevant framework to anticipate regulatory and stability challenges. + +Outputs: A working paper and a policy brief (Q4 2025), followed by academic publication and conference dissemination (2026). + +### Background + +Tokenization of real-world assets (RWAs) is a rapidly growing trend, with TMMFs emerging as one of the most promising instruments. + +TMMFs combine the liquidity and security of MMFs with blockchain’s programmability. + +They can be traded on DEXs and used as collateral in lending protocols, expanding their role beyond traditional markets. + +They may challenge stablecoins’ dominance by offering yield-bearing, transparent, and regulated alternatives. + +As pioneers in tokenized RWAs, CentrifugeDAO is strategically positioned to benefit from insights into adoption pathways, risks, and regulatory implications of TMMFs. + +#### Description of Activity + +The study will provide a comparative analysis of TMMFs and traditional MMFs, combining on-chain and off-chain data: + +On-chain sources: Ethereum logs, rwa.xyz, CoinGecko + +Fund filings: inflows/outflows, portfolio composition + +Traditional MMF data: iMoneyNet, Crane Data + +Case studies: BUIDL, OUSG, JTRSY (Centrifuge’s tokenized MMF) + +Timeline + +Q3 2025 – Dataset construction +Q4 2025 – First working paper + policy brief +Q1 2026 – Conference presentations +Q2 2026 – Final outputs and dissemination +Budget allocation (€10,000): +€3k – Research assistance & data collection +€3k – Cloud & infrastructure +€2k – Conferences +€2k – Dissemination (journal submission & outreach) + + +### Alignment to the mission of Centrifuge DAO + +The research directly supports CentrifugeDAO’s leadership in tokenized RWAs: + +Direct value: JTRSY will be featured in comparative analysis, showcasing Centrifuge’s positioning in the RWA ecosystem. + +Strategic fit: Findings on adoption, collateral usage, and regulation will inform Centrifuge’s roadmap and engagement with policymakers. + +Visibility: Independent, data-driven outputs will highlight CentrifugeDAO as a thought leader in tokenized MMFs. + + +Link to the RFC on the Forum: https://gov.centrifuge.io/t/grant-application-the-tokenization-of-money-market-funds-tmmfs/6973/3 From a741789c9882442de007eef942f94d8a94b95ef9 Mon Sep 17 00:00:00 2001 From: Lorenzo Date: Thu, 21 Aug 2025 17:13:24 +0200 Subject: [PATCH 2/6] Create CP165.md --- cps/CP165.md | 81 ++++++++++++++++++++++++++++++++++++++++++++++++++++ 1 file changed, 81 insertions(+) create mode 100644 cps/CP165.md diff --git a/cps/CP165.md b/cps/CP165.md new file mode 100644 index 0000000..30c3c7b --- /dev/null +++ b/cps/CP165.md @@ -0,0 +1,81 @@ +--- +cp: 165 +title: The Tokenization of Money Market Funds (TMMFs) +author: lschoenl +contributors: none +uses-component: +technical-proposal: no +requires-onchain: no +impacts/modifies: +status: +date-proposed: 2025-06-01 +date-ended: 2025-12-31 +--- + +### Short Summary + + We propose a research project titled “Tokenization of Money Market Funds (TMMFs) in DeFi”, starting in July 2025, with first results expected by the end of 2025. The project analyzes how tokenized MMFs improve efficiency, liquidity, and transparency compared to traditional MMFs, and explores their impact within DeFi ecosystems such as decentralized exchanges (DEXs) and lending protocols. The research will provide actionable insights for regulators, policymakers, and industry participants. We seek €10,000 in funding to support data collection, research assistance, IT infrastructure, and dissemination. + +### High Level Objective + +The primary objective is to understand the interaction between TMMFs, stablecoins, and traditional MMFs. Specifically, the project will: + +Assess whether TMMFs compete with or complement stablecoins. + +Analyze how TMMFs integrate as collateral in DeFi and their systemic implications. + +Evaluate efficiency gains in cost, settlement speed, and transparency compared to traditional MMFs. + +Provide a policy-relevant framework to anticipate regulatory and stability challenges. + +Outputs: A working paper and a policy brief (Q4 2025), followed by academic publication and conference dissemination (2026). + +### Background + +Tokenization of real-world assets (RWAs) is a rapidly growing trend, with TMMFs emerging as one of the most promising instruments. + +TMMFs combine the liquidity and security of MMFs with blockchain’s programmability. + +They can be traded on DEXs and used as collateral in lending protocols, expanding their role beyond traditional markets. + +They may challenge stablecoins’ dominance by offering yield-bearing, transparent, and regulated alternatives. + +As pioneers in tokenized RWAs, CentrifugeDAO is strategically positioned to benefit from insights into adoption pathways, risks, and regulatory implications of TMMFs. + +#### Description of Activity + +The study will provide a comparative analysis of TMMFs and traditional MMFs, combining on-chain and off-chain data: + +On-chain sources: Ethereum logs, rwa.xyz, CoinGecko + +Fund filings: inflows/outflows, portfolio composition + +Traditional MMF data: iMoneyNet, Crane Data + +Case studies: BUIDL, OUSG, JTRSY (Centrifuge’s tokenized MMF) + +Timeline + +Q3 2025 – Dataset construction +Q4 2025 – First working paper + policy brief +Q1 2026 – Conference presentations +Q2 2026 – Final outputs and dissemination +Budget allocation (€10,000): +€3k – Research assistance & data collection +€3k – Cloud & infrastructure +€2k – Conferences +€2k – Dissemination (journal submission & outreach) + + +### Alignment to the mission of Centrifuge DAO + +The research directly supports CentrifugeDAO’s leadership in tokenized RWAs: + +Direct value: JTRSY will be featured in comparative analysis, showcasing Centrifuge’s positioning in the RWA ecosystem. + +Strategic fit: Findings on adoption, collateral usage, and regulation will inform Centrifuge’s roadmap and engagement with policymakers. + +Visibility: Independent, data-driven outputs will highlight CentrifugeDAO as a thought leader in tokenized MMFs. + + +Link to the RFC on the Forum: https://gov.centrifuge.io/t/grant-application-the-tokenization-of-money-market-funds-tmmfs/6973/3 From 78d6232d168f5722dc05adf6c70b4415e8b5f3b7 Mon Sep 17 00:00:00 2001 From: Lorenzo Date: Thu, 21 Aug 2025 17:19:56 +0200 Subject: [PATCH 3/6] Update CP165.md --- cps/CP165.md | 7 ++++--- 1 file changed, 4 insertions(+), 3 deletions(-) diff --git a/cps/CP165.md b/cps/CP165.md index 30c3c7b..92e04fb 100644 --- a/cps/CP165.md +++ b/cps/CP165.md @@ -3,13 +3,14 @@ cp: 165 title: The Tokenization of Money Market Funds (TMMFs) author: lschoenl contributors: none -uses-component: +uses-component: cp2 technical-proposal: no -requires-onchain: no +requires-onchain: yes impacts/modifies: +wallet: 0x7b94083c3d1bad91540cd351341c2ee329aeb679 status: date-proposed: 2025-06-01 -date-ended: 2025-12-31 +date-ended: --- ### Short Summary From deb92d85331287ca1b2dd8032271a47ca8f986d7 Mon Sep 17 00:00:00 2001 From: ImdioR <90972248+ImdioR@users.noreply.github.com> Date: Thu, 21 Aug 2025 17:22:25 +0200 Subject: [PATCH 4/6] delete cp164.md --- cps/CP164.md | 81 ---------------------------------------------------- 1 file changed, 81 deletions(-) delete mode 100644 cps/CP164.md diff --git a/cps/CP164.md b/cps/CP164.md deleted file mode 100644 index 4024e5d..0000000 --- a/cps/CP164.md +++ /dev/null @@ -1,81 +0,0 @@ ---- -cp: 164 -title: The Tokenization of Money Market Funds (TMMFs) -author: lschoenl -contributors: none -uses-component: -technical-proposal: no -requires-onchain: no -impacts/modifies: -status: -date-proposed: 2025-06-01 -date-ended: 2025-12-31 ---- - -### Short Summary - - We propose a research project titled “Tokenization of Money Market Funds (TMMFs) in DeFi”, starting in July 2025, with first results expected by the end of 2025. The project analyzes how tokenized MMFs improve efficiency, liquidity, and transparency compared to traditional MMFs, and explores their impact within DeFi ecosystems such as decentralized exchanges (DEXs) and lending protocols. The research will provide actionable insights for regulators, policymakers, and industry participants. We seek €10,000 in funding to support data collection, research assistance, IT infrastructure, and dissemination. - -### High Level Objective - -The primary objective is to understand the interaction between TMMFs, stablecoins, and traditional MMFs. Specifically, the project will: - -Assess whether TMMFs compete with or complement stablecoins. - -Analyze how TMMFs integrate as collateral in DeFi and their systemic implications. - -Evaluate efficiency gains in cost, settlement speed, and transparency compared to traditional MMFs. - -Provide a policy-relevant framework to anticipate regulatory and stability challenges. - -Outputs: A working paper and a policy brief (Q4 2025), followed by academic publication and conference dissemination (2026). - -### Background - -Tokenization of real-world assets (RWAs) is a rapidly growing trend, with TMMFs emerging as one of the most promising instruments. - -TMMFs combine the liquidity and security of MMFs with blockchain’s programmability. - -They can be traded on DEXs and used as collateral in lending protocols, expanding their role beyond traditional markets. - -They may challenge stablecoins’ dominance by offering yield-bearing, transparent, and regulated alternatives. - -As pioneers in tokenized RWAs, CentrifugeDAO is strategically positioned to benefit from insights into adoption pathways, risks, and regulatory implications of TMMFs. - -#### Description of Activity - -The study will provide a comparative analysis of TMMFs and traditional MMFs, combining on-chain and off-chain data: - -On-chain sources: Ethereum logs, rwa.xyz, CoinGecko - -Fund filings: inflows/outflows, portfolio composition - -Traditional MMF data: iMoneyNet, Crane Data - -Case studies: BUIDL, OUSG, JTRSY (Centrifuge’s tokenized MMF) - -Timeline - -Q3 2025 – Dataset construction -Q4 2025 – First working paper + policy brief -Q1 2026 – Conference presentations -Q2 2026 – Final outputs and dissemination -Budget allocation (€10,000): -€3k – Research assistance & data collection -€3k – Cloud & infrastructure -€2k – Conferences -€2k – Dissemination (journal submission & outreach) - - -### Alignment to the mission of Centrifuge DAO - -The research directly supports CentrifugeDAO’s leadership in tokenized RWAs: - -Direct value: JTRSY will be featured in comparative analysis, showcasing Centrifuge’s positioning in the RWA ecosystem. - -Strategic fit: Findings on adoption, collateral usage, and regulation will inform Centrifuge’s roadmap and engagement with policymakers. - -Visibility: Independent, data-driven outputs will highlight CentrifugeDAO as a thought leader in tokenized MMFs. - - -Link to the RFC on the Forum: https://gov.centrifuge.io/t/grant-application-the-tokenization-of-money-market-funds-tmmfs/6973/3 From c7f1b52d11598b035d00b936c2cb6786cff7ef66 Mon Sep 17 00:00:00 2001 From: Lorenzo Date: Thu, 21 Aug 2025 17:29:21 +0200 Subject: [PATCH 5/6] Update CP165.md --- cps/CP165.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/cps/CP165.md b/cps/CP165.md index 92e04fb..04a2ac1 100644 --- a/cps/CP165.md +++ b/cps/CP165.md @@ -7,7 +7,7 @@ uses-component: cp2 technical-proposal: no requires-onchain: yes impacts/modifies: -wallet: 0x7b94083c3d1bad91540cd351341c2ee329aeb679 +wallet: 13zDsuyqze6fh2u7i1gsK3BsW1Ag3cGzvznY4eABmfU6DYQ8 status: date-proposed: 2025-06-01 date-ended: From 81372171b504d97a519e228f68feb263e4a706a8 Mon Sep 17 00:00:00 2001 From: Lorenzo Date: Wed, 3 Sep 2025 15:15:38 +0200 Subject: [PATCH 6/6] Changed to CP 167 --- cps/{CP165.md => CP167.md} | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) rename cps/{CP165.md => CP167.md} (97%) diff --git a/cps/CP165.md b/cps/CP167.md similarity index 97% rename from cps/CP165.md rename to cps/CP167.md index 04a2ac1..e98bd25 100644 --- a/cps/CP165.md +++ b/cps/CP167.md @@ -1,5 +1,5 @@ --- -cp: 165 +cp: 167 title: The Tokenization of Money Market Funds (TMMFs) author: lschoenl contributors: none @@ -79,4 +79,4 @@ Strategic fit: Findings on adoption, collateral usage, and regulation will infor Visibility: Independent, data-driven outputs will highlight CentrifugeDAO as a thought leader in tokenized MMFs. -Link to the RFC on the Forum: https://gov.centrifuge.io/t/grant-application-the-tokenization-of-money-market-funds-tmmfs/6973/3 +Link to the RFC on the Forum: https://gov.centrifuge.io/t/grant-application-tmmfs/7103