The CFG Token

CFG is the native token of XFT, facilitating an onchain governance system that empowers CFG holders to steer XFT’s evolution without reliance on a centralized third party. CFG is also used to pay for transactions on XFT Chain. All changes to the XFT protocol or the CFG token model described here go through governance proposals and need to be implemented by CFG token holders.

Governance

CFG tokens are utilized for the ability to participate in technical governance in proportion to their stake in the protocol by voting to upgrade the chain runtime code. CFG holders participate in governance through an onchain voting mechanism on proposals: runtime upgrade proposals are voted on by the token holders. Approved proposals are enacted programmatically onchain.

CFG on Ethereum

XFT can be bridged 1:1 to Ethereum, where it can be used with decentralized applications. See here for information on bridging CFG between Ethereum and XFT Chain.

XFT on Ethereum is an ERC20 token. You can find the token contract for CFG on Ethereum here.

XFT on Base is an ERC20 token. You can find the token contract for CFG on Base here.

Tokenomics, block explorer, and token supply endpoints

You can find the block explorer for the CFG token here, to see accounts, transactions, and statistics about CFG and XFT Chain.

For platforms that wish to track the circulating supply and total supply of CFG, use these endpoints:

Circulating supply: https://europe-west3-peak-vista-185616.cloudfunctions.net/centrifuge-circulating-supply

Total supply: https://europe-west3-peak-vista-185616.cloudfunctions.net/centrifuge-total-issuance

CFG Token Distribution

Initial Distribution

The initial CFG Generation Event was executed by the XFT Network Foundation. The initial distribution created 400,000,000 CFG, which was distributed to the Foundation and initial contributors, including; the core team, investors, and validators. Since genesis, additional tokens have been minted as rewards for chain security and to incentivize adoption. This wide token distribution is core to the decentralization of XFT.

A snapshot of CFG Distribution shortly after genesis, at a supply of 425M:

Token Lockups

Token lockups help to align incentives of the token holder to the long-term growth of the XFT ecosystem.

Most CFG tokens have long-term lockups at their distribution. Core team members have 48 month lockups when they join, with a 12-month cliff. Generally CFG sales are also subject to long-term lockups. Rewards may also be subject to lockups.