Centrifuge’s deSPXA now accepted as collateral on Hyperdrive
Centrifuge’s deSPXA token, which provides exposure to the Janus Henderson Anemoy S&P 500 Index Fund, is now accepted as collateral on the Hyperdrive lending protocol on Base. This integration allows eligible non-US users to borrow USDC against their tokenized S&P 500 holdings at promotional rates below 1% APR. Hyperdrive utilizes a redemption-based model tied to the fund's net asset value to mitigate liquidation risks common in standard DeFi lending. While the market is currently in its early stages with approximately $15.9K in total value locked as of late September 2026, it represents a significant expansion of the deRWA framework. To stimulate liquidity, Hyperdrive has introduced a 50,000 USDC incentive program for lenders distributed over six months. The move highlights the growing utility of Centrifuge’s tokenized assets within the Base ecosystem, supported by strategic investment from Coinbase. Despite the potential for broader adoption, the restriction to non-US users limits the accessibility of this product for the primary market tracking the S&P 500. This development underscores the ongoing effort to bridge traditional equity indices with decentralized finance infrastructure.