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What currency is TrueFi (TRU) currency?

By utilizing the TRU token, TrueFi empowers borrowers with uncollateralized loans while offering stable earning potential to lenders through its decentralized credit protocol.

Dec 15, 2024 at 07:04 pm

What is TrueFi (TRU)?

TrueFi is a decentralized protocol that enables uncollateralized lending and borrowing of fiat currencies and stablecoins. It offers a unique alternative to traditional lending models, empowering borrowers to access funding without the need for collateral and providing lenders with stable and passive income opportunities.

TrueFi Currency: TRU

TrueFi's native cryptocurrency is TRU, which serves several crucial functions within the protocol's ecosystem:

Governance: TRU holders participate in the governance of TrueFi, voting on key protocol parameters and upgrades.
Staking: Lenders can stake TRU to earn additional rewards and enhance their pool allocations.
Utility: TRU is used to pay transaction fees and incentivize network participants.

How Does TrueFi Work?

TrueFi operates on a three-tiered system:

Borrowers: Borrowers submit loan requests, which are then evaluated by the protocol's Credit Committee.
Lenders: Lenders deposit funds into lending pools, earning interest on their contributions.
Credit Committee: The Credit Committee consists of experienced individuals in traditional finance who assess borrower profiles and determine loan terms.

Key Features of TrueFi:

Uncollateralized Lending: TrueFi enables borrowers to access loans without the need for upfront collateral.
Credit Scoring: The protocol employs a robust credit scoring mechanism to assess borrower risk and determine loan terms.
Stablecoin Borrowing: Borrowers can access loans in various fiat currencies and stablecoins, providing flexibility and stability.
Transparent Governance: TRU holders have a direct say in the governance of the protocol, ensuring transparency and community involvement.

Benefits of Using TrueFi:

For Borrowers:

Expanded access to funding opportunities
No collateral requirements
Competitive interest rates
Flexible loan terms

For Lenders:

Passive income opportunities
Stable and attractive returns
Diversification of portfolio
Participation in blockchain innovation

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