Currencies29167
Market Cap$ 2.51T-1.27%
24h Spot Volume$ 30.17B+33.2%
DominanceBTC51.71%+0.34%ETH16.83%+0.05%
ETH Gas8 Gwei
Cryptorank
Open report modalReport issue
TrueFi

TrueFi TRU Price $ 0.162

Rank: 273

1877 Watchlists

DeFi

TRU Price

0.162
11%
(-$ 0.0201)
Price Range
LowHigh
    $ 0.162$ 0.189

    General Info

    Contracts/Explorers:

    Explorers

    Tags (Sub-Categories):

    #Token

    Funds and Backers

    Description

    TrueFi is a DeFi protocol for uncollateralized lending powered by the TRU token.

    TrueFi (TRU) Chart

    TrueFi price Index provides the latest TRU price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

    TRU to USD Converter

    TrueFi (TRU)TRU

    TRU Price Statistics

    leaderboard

    Market Cap

    $ 185.07M

    Fully diluted value

    FDV

    $ 199.71M

    ATH Market Cap

    $ 425.48M

    24 Trade Vol.

    $ 38.38M


    Vol. (24h) / MCap

    0.207

    Max Supply

    TRU 1,198,450,773

    Total Supply

    TRU 1,232,328,859

    Circulating Supply

    TRU 1.14B

    (95.3% of Max Supply)

    Listing Date

    23 Nov 2020

    All Time High

    $ 1.05

    12 Aug 2021


    All Time Low

    $ 0.026

    23 Dec 2022


    From ATH

    84.6%

    From ATL

    523.1%

    What is TrueFi (TRU)?

    TrueFi is a DeFi protocol for uncollateralized lending. To power the protocol the company has created the TRU token (TRU), used for staking and governance.

    The company behind TrueFi, TrustToken was co-founded by its current CEO Rafael Cosman in 2017. TrustToken was founded to modernize the financial system. Primarily by reducing transaction fees, speeding up international transactions, and increasing global access to financial services. It has created several crypto tokens to do this, this includes many stablecoins pegged to fiat currencies, for example, True USD (TUSD), pegged to the US Dollar.

    As part of its attempts at holistically modernizing the system, it has now ventured into uncollateralized lending with the launch of TrueFi. This represents the company’s specific goals of facilitating DeFi borrowing and lending by creating an accessible system with fixed terms and no collateral requirements. TrueFi is unique because the system has created the first-ever automated on-chain credit rating system. It aims to build on this and become the leading market-driven automated credit-rating and lending system.

    What are TRU key features and how does it work?

    By combining collateral-free lending with blockchain technology, TrustToken is hoping to maximize capital speed and efficiency for borrowers and increase capital returns for lenders of cryptocurrencies. To do so, the protocol simplifies the interactions between the three stakeholders; the lenders, borrowers, and stakers.

    Lenders provide the capital by adding stablecoins, e.g. TUSD into TrueFi capital pools. Borrowers (for example, OTC desks, exchanges, and other protocols) then request capital using smart contracts. These provide the requested loan’s details, for example how long it will be, interest rates, how much will be owed, and the Ethereum address that will receive the loan if a proposal is accepted. Lenders thus benefit from full transparency of how their capital will be used. To increase returns, any excess capital in TrueFi’s pools that is not actively loaned out may be used to provide liquidity in other stable, high-yield DeFi protocols (for example, Curve.fi).

    Whilst uncollateralized loans can be high-risk, TrueFi seeks to overcome this in various ways. Loan proposals are assessed using a Credit Prediction Market system, where TRU stakers, a decentralized network of people, assess the risks of the smart contracts and vote on the proposals, indicating the creditworthiness of a proposed loan. TRU stakers have direct interests in the loans as such they are incentivized to vote responsibly. Additionally, borrowers are firstly whitelisted using a thorough vetting and auditing process and all loans must also reach strict criteria set out by the protocol. Borrowers with accepted loans are expected to return the principal and interest on or before the agreed loan terms end. Borrowers who fail to repay could face legal action.

    Lenders are rewarded in different ways depending on what they stake. Lenders who put stablecoins e.g. True USD (TUSD) into the pool can reclaim this with interest. If a lender stakes Liquidity Provider tokens they can get bonus TRU tokens. As a holder of TRU tokens, they will be able to participate in the Credit Prediction Market system. Additionally, when a loan is successfully repaid all stakers that voted yes in the Credit Prediction Market get additional TRU tokens for participating and correctly predicting loan repayments.

    As well as a token used for staking, the TRU token is also a governance token where TRU token holders participate in protocol governance decisions.

    Where can you buy TrueFi?

    TRU is available to buy from the CEXs and DEXs as listed here. Popular options include Binance and Uniswap. The price of TRU will vary depending on the exchange and current market interest. For more detailed price information please refer to the price charts above.

    TrueFi Price Today

    TrueFi's current price is $ 0.162, it has dropped -11% over the past 24 hours.

    TrueFi's All Time High (ATH) of $ 1.05 was reached on 12 Aug 2021, and is currently -84.5% down.

    The current circulating supply of TrueFi is 1.14 Billion tokens, and the maximum supply of TrueFi is 1.20 Billion.

    TrueFi’s 24 hour trading volume is $ 38.04 Million.

    TrueFi's current share of the entire cryptocurrency market is 0.01%, with a market capitalization of $ 185.27 Million.

    You can find more details about TrueFi on its official website and on the block explorer.

    Trending Coins and Tokens Flame icon