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Centrifuge's JAAA Tokenized Fund Achieves 47% Utilization in DeFi
Centrifuge's JAAA tokenized fund has reached approximately 47% utilization, reflecting its increasing integration across decentralized finance (DeFi) protocols and liquidity providers. This milestone indicates how effectively the tokenized product is being utilized within these channels, with DefiLlama reporting a total utilization rate of 47.6%.
The JAAA token is linked to the Janus Henderson Anemoy AAA CLO Fund, providing investors with exposure to AAA-rated tranches of collateralized loan obligations (CLOs). Since its launch between May and July 2025, the fund has processed over $717 million in redemptions from 93 separate orders, typically settling within one to two days. The fund's assets under management have fluctuated between approximately $585 million and $687 million, down from a peak exceeding $1 billion.
Recent developments include the use of JAAA as collateral on Aave Horizon, where a proposal is being considered to increase its loan-to-value ratio from 81% to 87%. This change would enhance borrowing power for users, allowing for greater capital efficiency. The proposal's success could indicate a growing acceptance of tokenized AAA credit as collateral in the DeFi space, although it also raises concerns about the risks associated with increased leverage.
Source: KLEA News