Who issued TrueFi (TRU) coins?

TrueFi (TRU) coins, initially issued through a public sale in March 2020, serve as a governance and utility token within the TrueFi decentralized lending ecosystem.

Dec 12, 2024 at 11:55 am

Who Issued TrueFi (TRU) Coins?

TrueFi is a decentralized lending protocol that enables borrowers to access capital at attractive interest rates while offering lenders the opportunity to earn passive income. The protocol is powered by the TRU coin, which serves as a governance and utility token within the TrueFi ecosystem.

Issuance of TrueFi (TRU) Coins

TrueFi (TRU) coins were initially issued through a public sale held in March 2020. The sale raised approximately $2.5 million, with investors receiving TRU tokens in exchange for their contributions. Following the initial sale, TRU coins have been distributed through various channels, including:

• Liquidity Farming: Users who provide liquidity to the TrueFi lending pools can earn TRU tokens as rewards. Liquidity farmers lock their TRU tokens into the pools, which are then used to facilitate lending and borrowing activities on the protocol.
• Staking: TRU holders can stake their tokens to earn additional rewards. Staking involves locking up TRU tokens for a specified period in exchange for a portion of the protocol's revenue. Staking helps to secure the network and earn passive income for TRU holders.
• Community Distribution: A portion of TRU tokens has been allocated for community distribution. This distribution may include rewards for community contributions, airdrops, or grants to projects that support the TrueFi ecosystem.

Role of TRU in the TrueFi Ecosystem

TRU coins play a crucial role in the functioning of the TrueFi protocol. They serve multiple purposes, including:

• Governance: TRU holders have the right to participate in the governance of the TrueFi protocol. They can vote on proposals that impact the protocol's operations, including changes to lending parameters, fee structures, and risk management policies.
• Rewards: TRU holders can earn rewards through liquidity farming and staking. These rewards incentivize participation in the protocol and contribute to the growth of the TrueFi ecosystem.
• Collateral: TRU tokens can be used as collateral when borrowing on the TrueFi protocol. This allows borrowers to secure loans against the value of their TRU holdings.
• Utility: TRU tokens can be used to pay transaction fees on the TrueFi platform. This helps to support the operation of the protocol and ensure its long-term sustainability.

Additional Considerations

• Circulating Supply: The circulating supply of TRU coins is approximately 150 million tokens.
• Maximum Supply: The maximum supply of TRU coins is capped at 600 million tokens.
• Token Distribution: A significant portion of TRU tokens is held by early investors, team members, and community contributors.