Centrifuge, a real-world-asset protocol, has proposed letting CFG token holders convert their tokens 1:1 into equity, or equity-like instruments, in the entity behind the protocol.

The proposal would also restructure Centrifuge's foundation and introduce a shareholder structure. For now it is only a Request for Comments, sitting in a 14-day feedback window on the governance forum, with no confirmed vote date or implementation timeline. The team frames it as a way to align token value with the underlying company.

If it moves forward, it would be a rare shift from a pure token model toward real equity ownership, and could influence how other DeFi projects think about linking value to the businesses behind them.