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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
TrueFi is on the rise this week.
The price of TrueFi has risen by 2.45% in the past 7 days. The price increased by 1.86% in the last 24 hours. In just the past hour, the price shrunk by 0.11%. The current price is $0.0877 per TRU. TrueFi is 91.57% below the all time high of $1.04.
The current circulating supply is 548,956,194.22 TRU.
TRU is an Ethereum token that powers TrueFi, a decentralized finance protocol for uncollateralized lending using on-chain credit scores. TRU can be used for staking (i.e. to approve or reject new loans) and governance on the TrueFi protocol.
What Is TrueFi (TRU)?
is a decentralized that offers loans to users without collateral. The peer-to-peer mechanism does not rely on a third party for credit disbursement; instead, it assesses eligibility to draw loans through in-house credit scores.
Much of success revolves around over-collateralized lending, where a user cannot withdraw their funds as some other user has borrowed assets but did not pay back to the lending protocol. Decentralized finance (DeFi) requires a transparent assessment of creditworthiness to sustain a lending platform. According to the , TrueFi's goal is to bring uncollateralized lending to DeFi. The platform wants lenders to enjoy an attractive, sustainable rate of return while giving borrowers predictable loans that maximize their working capital. TrueFi aspires to create an automated, market-driven credit rating and lending protocol in the long term. The platform seeks to adopt the method of . Simply put, progressive decentralization advocates easing into decentralization in stages rather than diving in headfirst. TrueFi intends to benefit its users with the following features on the platform:
Competitive Returns: Users can benefit from robust returns in DeFi on many assets.
Maximum Transparency: Users can track their funds loaned to TrueFi's borrowers on-chain and review regular attestations.
Vetted Borrowers: TrueFi borrowers undergo a rigorous due diligence process, receive community approval, and sign a legally binding loan agreement.
By and For Users: TRU holders control the protocol, approve new borrowers, and have a say in important treasury and partnership decisions at TrueFi.
TrueFi effortlessly weaves its stakeholders—lenders, borrowers, and stakers—into the fabric to ensure everyone benefits. The process is simple yet secure. Lenders contribute assets to the TrueFi loan pool that funds new loans and earn yield and TRU in exchange. Borrowers (currently limited to institutions rather than retail borrowers) undergo a rigorous onboarding procedure that includes due diligence and approval from the TRU community. Once approved, borrowers submit a capital request subject to TRU community approval, with an interest rate and credit limit set by their credit score. TRU stakers are encouraged to vote carefully on new loans because their staked TRUs may be liquidated to protect lenders in the event of default. The borrower must return the loan principal and interest on or before the term expires. Delinquent borrowers will face legal action according to the loan's terms and conditions.
TRU is the native governance token of the platform that allows users to earn staking rewards, govern the protocol, and assure TrueFi against misses.
History of TrueFi (TRU)
TrustToken is the umbrella DeFi organization that launched TrueFi on November 21, 2020. is the cofounder and CEO at TrustToken. He is a machine learning specialist who has worked at Google and other companies in the past. TrueFi has progressed since its inception, with the introduction of the crypto-native credit model and two major updates (V2 & V3). In July 2021, the litepaper was revised to reflect new milestones and modifications in the design protocol.
How Are New TrueFi (TRU) Created?
TRU holders can decide the future development of the TrueFi platform, including voting on loan eligibility. TRU stakers help to safeguard lenders against default, guide the development of the TrueFi protocol through on-chain governance, and vote on new borrowers and loans. In addition to TRU tokens, 10% of the yield created by the protocol's lending activity is handed out to TRU stakers. TRU liquidity is supported by liquidity providers, who can TRU by staking their LP tokens with TrueFi.
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TrueFi on social media.
TrueFi was mentioned in 97 out of 1,723,449 social media posts on Twitter and Reddit on Aug 07, 2022. 66 unique individuals are talking about TrueFi and it is ranked #859 in most mentions and activity from collected posts.
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