What is TrueFi (TRU)? Pioneer of Decentralized Credit Without Collateral

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Bittime - The world of decentralized finance (DeFi) continues to grow rapidly, and TrueFi (TRU) is emerging as an innovative player in the crypto credit space. Different from traditional DeFi platforms that focus on collateralized loans, TrueFi offers a unique unsecured lending solution, opening up credit access to more users.

What is TrueFi (TRU)?

TrueFi is a DeFi protocol that allows investors to contribute funds to liquidity pools and earn interest. This pool is then used to provide collateral-free loans to credible institutions and individuals in the crypto industry.

TrueFi (TRU) Key Products & Features:

• TrueFi Credit Pools: Liquidity pools that allow investors to deposit funds and earn interest.
• TrueFi Borrower Pools: Loan pools that allow institutions and individuals to borrow funds without collateral.
• TrueFi Staking: A staking mechanism that allows TRU token holders to earn rewards and participate in platform governance.
• TrueFi Credit Scoring: A credit scoring system that combines on-chain and off-chain data to assess borrower creditworthiness.
• TRU Token: TRU token holders have governance rights over the TrueFi protocol and can earn rewards from staking and protocol fees.

Also read: How to Buy Bitcoin with a Credit Card, Turns Out It's Easy

What is TRU Token?

The TRU token is the native utility and governance token of the TrueFi protocol. This token has several important functions, such as:

• Governance: TRU token holders can vote on governance proposals to determine the future of the TrueFi protocol.
• Staking: TRU token holders can stake their tokens to earn rewards and increase protocol security.
• Protocol Fees: TRU tokens are used to pay protocol fees, such as loan fees and origination fees.

TRU Token Tokenomics:

• Max Supply: 1,450,000,000 TRU
• Circulating Supply: 1,096,769,985 TRU
• Total Supply: 1,198,450,773 TRU

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TrueFi (TRU) Fundamental Analysis:

• Total Value Locked (TVL): IDR 1,085,728,950 (as of 22 February 2024)
• Daily Trading Volume: IDR 80,631,621,312 (as of February 22, 2024)
• Market Cap: IDR 1,039,639,148,750 (as of 22 February 2024)

TrueFi (TRU) & Competitors Comparison:

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TrueFi (TRU) Founder & Team

• TrueFi was founded in 2020 by:
  • Rafael Cosman (CEO)

Expert Opinion About TrueFi (TRU):

• "TrueFi is an innovative solution to the credit access problem in the DeFi space." - Michael Saylor, CEO of MicroStrategy
• "TrueFi has the potential to revolutionize the crypto credit industry." - Anthony Pompliano, Bitcoin Investor

Conclusion

TrueFi is a promising DeFi project with a unique collateral-free lending solution. With an experienced team and growing community, TrueFi has the potential to become a major player in the crypto credit space.

How to Buy TrueFi (TRU) on Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. TRU is available on Bittime with TRU to IDR pairing .

To be able to buy TRU on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  the complete guide on how to buy TrueFi (TRU) on Bittime.

Monitor the price chart movements of TrueFi (TRU) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

What Are Real World Assets (RWA), and How Do They Function in DeFi?

What is digital identity management, and what are its benefits?

What Is Two-Factor Authentication (2fa), and How Is It Applied in Cryptocurrencies?

What is a Smart Contract Security Audit? A Beginner's Guide

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.