DEJAAA
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Overview
deJAAA is Centrifuge's deRWA wrapper around JAAA, the Janus Henderson Anemoy AAA CLO Fund. It gives the same exposure to AAA-rated collateralized loan obligation tranches without the allowlist, so it can be traded and used as collateral across Stellar DeFi. Note that the AAA rating describes the credit risk of the underlying loans, it is not a peg, and the token price moves.
Highlights
- Same AAA-rated CLO tranche exposure as JAAA, without transfer restrictions
- Freely transferable: tradable on Stellar DEXs and usable as DeFi collateral
- AAA refers to credit quality of the loan pool, not to price stability
- Issued by the Open Market Foundation and pausable by authorized operators
What is structured credit?
Structured credit pools many corporate loans into a single vehicle and splits the repayments into tranches ranked by who gets paid first. The AAA tranche sits at the top, absorbing losses last, which is why it carries the highest credit rating in the structure. Tokenizing that tranche puts an institutional fixed-income product on-chain, though the rating describes credit risk only, not price stability.