What is Centrifuge [OLD]?

Centrifuge token (CFG) is a native token used to power the Centrifuge platform. The token model is described as providing a framework for running the platform without reliance on a single point of failure, including the Centrifuge team or company.

The project describes a nominated-proof-of-stake consensus algorithm that uses Centrifuge to stake value, includes rewards for Centrifuge adoption, and incorporates on-chain governance. Centrifuge holders are described as using this governance mechanism to guide Centrifuge development.