TRI: TrueFi's Newly Released RWA Token

In the latest development in the decentralized finance (DeFi) sector, TrueFi has launched the Trinity Protocol, a system designed to improve the capital efficiency of real-world assets (RWA) existing on the blockchain. The protocol introduces a dollar-based TRI token, backed by collateral assets, that allows users to obtain leverage and hedge risk more effectively.

Getting to Know the Trinity Protocol

The Trinity Protocol is designed to utilize tfBILL, a tokenized short-term United States bond product, as the primary collateral asset. It allows users to create TRI tokens using tfBILL or other assets as collateral and exchange them for stablecoins through an automated market maker. This process can be repeated to maximize yield by 15-20%.

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On-Chain Credit Market and RWA Trends

In April 2022, TrueFi recorded a peak of on-chain RWA with hundreds of millions in loans to trading firms that have not been paid off. However, at present, the on-chain credit market is only a third of its peak level, indicating a significant decline in lending activity.

Trinity has been active in the Sepolia Optimism test network and awaits the audit to be completed. After that, early adopters will be selected to participate. TrueFi hopes to have a maximum TRI creation limit of $40 million (around Rp632 billion) on the version to be launched.

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Expansion to Coinbase's Layer-2 Base Network

TrueFi also plans to launch the Trinity Protocol on Coinbase's layer-2 Base network. It will not be available to US users in the "most conservative initial deployment." Base has about 150,000 verified addresses that can confirm that users are not based in the US and that the institution has been whitelisted.

Conclusion

TrueFi introduced its first protocol in 2020 and generated $1 billion in loans in 2021. With the launch of the Trinity Protocol, TrueFi seeks to strengthen its position as an innovation leader in decentralized finance.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the Complete Guide on How to Buy Crypto on Bittime.

Monitor the price chart movements of 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 is TrueFi (TRU)? Pioneer of Unsecured Decentralized Credit

7 Must-Have Real World Assets (RWA) Cryptos

Real World Asset (RWA): A Brief History of RWA Tokenization You Must Know!

ONDO Price Rises After BlackRock Launches Initiative for Real World Asset (RWA)

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