What is TrueFi?
TrueFi is a decentralized finance protocol that provides uncollateralized loans in TUSD (True USD) with attractive interest rates. Approved borrowers will request loans in TUSD. Based on the creditworthiness of the borrower, the lender decides whether to lend or not by voting Yes/No, then deposits TUSD into the pool to lend and receive interest.
How TrueFi Works
The TrueFi network consists of lenders and borrowers.
Lenders:
- Provide TrueUSD (TUSD) to TrueFi pool for lending, profit and farming. All unused capital will be deposited into the Curve platform to optimize profits.
Borrowers:
- Submit a proposal to borrow capital from TrueFi pool. The required information includes the amount of capital to borrow, the % APY that can be met, the terms and the Ethereum wallet address. If the proposal is accepted, they will receive a loan.
- The loan also depends on the approval of the TRU stakers. By staking TRU, users have a vote whether to agree to a loan, based on whether the borrower can repay the loan on time. TRU stakers will also receive rewards for voting.
- Borrowers need to pay both principal and interest before or on time when the loan expires. Borrowers who are past due will be held legally responsible.
TRU Token
TRU is the utility token of TrueFi, used in the following cases:
- Governance: TRU holders can participate in network governance decisions to guide the development of TrueFi.
- Staking rewards: users will be rewarded with TRU tokens when voting for loans.
Specifications
- Ticker: TRU
- Blockchain: Ethereum
- Token standard: ERC-20
- Total supply: 1,446,312,655 TRU
- Circulating supply: 140,608,485.00 TRU (10%)
Token Allocation
- Reward distribution: 39%
- Private sale: 28.5%
- Management team: 18.5%
- Grants/Company: 9.5%
- Future team: 4.5%
TRU token Price today
How to buy TRU
TrueFi (TRU) has been listed on Attlas Exchange.
Traders can easily and securely buy TRU with lowest fees on Attlas Exchange.
Step 1: Download the app and register an account
Step 2: Select Market on the toolbar at the main screen
Step 3: Select Spot
Step 4: Find TRU
Step 5: Select Buy
Summary
This article is an overview of TrueFi (TRU), not a financial advice.
Users are advised to do their own research before making any trading decisions.