TrueFi includes utility and rewards mechanisms using TrustTokens (TRU) and rewards participants for maintaining stable, high APRs.
Table of Contents
Coins Wiki: TRU (Truefi)
|Summary of Token||TrueFi is a protocol for creating interest-bearing pools with a high APR for liquidity providers. TrueFi includes utility and rewards mechanisms using TrustTokens (TRU) and rewards participants for maintaining stable, high APRs.|
|Overview of Token||TrueFi is an uncollateralized lending DeFi Protocol, which is powered by the TRU token, an on-chain credit model.
Truefi loans are made to vetted institutional-grade borrowers like Nibbo, Amber Group, and Wintermute Trade. Once these loans are approved the investors get access to cryptocurrency loans with no collaterals required.
For a borrower to onboard Truefi, it will go through a governance vote by TRU tokens holders.
The power of uncollateralized loans allows institutional investors to have access to larger amounts of capital without locking up collaterals and providing liquidity to the markets.
|Circulating Supply||980,611,267 TRU|
|Total Supply||1,198,450,773 TRU|
|Max Supply||1,450,000,000 TRU|
|Number of Holders||7,326*|
|Initial Launch and ICO||$12.5 million|
|Where to Buy & Sell||Trade $TRU on CoinsPro a BSP-regulated licensed crypto exchange in The Philippines|
|*as of writing|
What is $TRU (Truefi)?
Truefi is the first uncollateralized lending DeFi Protocol. It allows borrowers to make loans without needing to provide collateral in exchange. This creates higher demand as it increases the capital efficiency of the borrowers.
TrueFi has its own native cryptocurrency, the TrueFi ($TRU) token, which is also known by the ticker symbol TRU. TRU is made to function as a utility token, where it funds network transactions. Holders can also stake TRU in exchange for prizes and rewards. Truefi network also supports its own stablecoin, TrueUSD.
TrueFi provides various financial alternatives, such as lending to gig workers, investing in emerging markets, and the like. In this way, TrueFi efficiently enables DeFi to access real-world lending and assets.
Who owns $TRU (Truefi)?
Truefi is run by TrustToken, a decentralized autonomous organization (DAO). It is the parent company of Truefi and founded in 2017 by Rafael Cosman, a Stanford programmer based in California. The native coin debuted on the open market in November 2020, the same month TrueFi was launched.
How does Truefi work?
Truefi works on a DAO model consisting of 3 different types of stakeholders, lenders, stakeholders, and borrowers.
Lenders are the first to provide stablecoins to the pools. Stakeholders, on the other hand, take part in the protocol's risk management mechanism in exchange for TRU benefits and fees created through the protocol. Finally, there are borrowers who are institutional investors and they are required to be checked for credit worthiness. TRU stakers vote on loan requests in order to indicate the creditworthiness of each loan request on TrueFi's credit prediction market, offering a variety of stablecoins available for loans.
TrueFi allows anyone who wants to act as a cryptocurrency lender the chance to profit from lending money to borrowers. Lenders can deposit their cryptocurrency into True DAO pools, which, in accordance with the whitepaper, have provided institutional borrowers with almost $1.5 billion in crypto loans since November 2020.
How to buy $TRU with PHP in the Philippines?
Via Coins Pro, BSP Licensed Spot Exchange:
- Step 1: Log into your Coins Pro account and click [Balance].
- Step 2: Select the currency you want to deposit, click on [Deposit] and enter your desired cash-in amount.
- Step 3: Select TRU/PHP pair and enter the [Order Quantity] you would like to trade.
- Step 4: Click Buy or Sell to place your Limit and Stop Orders.
- Step 5: Wait for your order to be filled
Disclaimer: The information and publications in this article are not intended to be and do not constitute financial advice, investment advice, trading advice, or any other advice or recommendation offered or endorsed by Coins.
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