{"id":456481,"date":"2021-02-11T09:28:56","date_gmt":"2021-02-11T09:28:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=456481"},"modified":"2021-02-11T09:30:37","modified_gmt":"2021-02-11T09:30:37","slug":"truefis-reveals-comprehensive-new-roadmap-as-50-million-tvl-milestone-approaches","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/company\/truefis-reveals-comprehensive-new-roadmap-as-50-million-tvl-milestone-approaches\/","title":{"rendered":"TrueFi\u2019s Reveals Comprehensive New Roadmap as $50 million TVL Milestone Approaches"},"content":{"rendered":"
The TrueFi protocol<\/a> has only been around for a couple of months and its arrival is already being felt across the DeFi landscape. Since the beginning of January, the platform has steadily been climbing the rankings chart on DefiPulse, already in the 24th spot after 2 months since launch, moving past long-standing protocols like Cover, bZx, Gnosis and dForce.<\/p>\n Another metric that quite clearly showcases TrueFi\u2019s ever-increasing market clout is the fact that since Jan. 1, the platform\u2019s total volume locked (TVL) has increased<\/a> by over 38%, rising from $29.46 million to just over the $48 million mark (as of February 11).<\/p>\n In simplest terms, TrueFi is a specialized DeFi solution allowing vetted borrowers to request capital with no collateral requirements, while rewarding the lenders that pool their capital together to make these loans possible with competitive and stable returns.<\/p>\n To make this possible, TrueFi empowers holders of the native TRU token to have a say in the \u2018creditworthiness\u2019 of every loan being issued on TrueFi. By making use of TrueFi, TUSD lenders have the option of earning lucrative APYs on their stablecoins while also farming TRU, making this offering one of the most attractive DeFi ecosystems in the market today.<\/p>\n If for some reason, the above-stated description seemed a bit too complex for your taste, you can think of TrueFi as simply being a platform that enables users to acquire uncollateralized loans as well as deploy their TRU tokens for purposes such as staking and voting on loan requests.<\/p>\n So how does one lend on TrueFi? Fairly easily, thankfully. To begin, lenders deposit TUSD into the TrueFi lending pool, which is then put to work in loans to approved borrowers or pushed to the Curve pool, always maximizing returns for lenders. Lenders benefit from a competitive base APY paid out in TUSD and a serious boost from farmed TRU. Lenders can always see exactly how the capital in the lending pool<\/a> is used, setting a new bar for transparency against centralized players like Nexo or Celsius.<\/p>\n <\/p>\n In order for borrowers to loan out capital, they are required to submit a detailed proposal clearly explaining their creditworthiness and intentions for their loan, including the amount required, how this money may be used, and the terms of the loan such as length and the interest rate offered.<\/p>\n Each loan application is made to go through TrueFi\u2019s native pool smart contract that assesses various risk parameters as well as counts the total number of yes\/no votes issued by TRU Stakers in order to approve or reject the request.<\/p>\n Once a loan has been issued, borrowers are required to pay back the principal as well as applicable interest before the loan term expires, failing which they are subject to legal action carried out by TrustToken Inc for now, but eventually to be taken up by a foundation acting on behalf of TRU holders in a more decentralized fashion.<\/p>\n Since its inception, TrueFi\u2019s progress has been quite remarkable. For example, during the month of December, the platform\u2019s first loan worth $5 million was issued and repaid back on time by Alameda Research – the largest loan of its kind on DeFi. Subsequently, 4 other loans of around $12 million were issued, of which two (amounting to $7.5 million) have already been cleared.<\/p>\n To maximize consumer trust, TrueFi has made all of its operations completely transparent. For example, the status of all live\/closed loans<\/a> can be is always visible on the dashboard, as are the borrowers taking them out.<\/p>\n Furthermore, TUSD is the world\u2019s only stablecoin that guarantees a real-time 24\/7 attestation from a top 25 American accounting firm Armanino LLC. This effectively eliminates any room for manipulation of the currency. If that wasn\u2019t enough, TrueFi\u2019s collateralization data is reported on-chain in real-time via the ChainLink network.<\/p>\nSo what exactly is TrueFi?<\/h3>\n
How easy is it to use TrueFi?<\/h3>\n
TrueFi\u2019s performance so far<\/h3>\n