The TRU price update as of now is $0.08395. In the previous 24 hours, its trading volume was $20,248,753, and its value has increased by 5.01%. As of now, TRU's live market cap is $105,217,026, and it is ranked as the #392 on the Coincu. TRU has a circulating supply of 1,441,129,426 and a maximum supply of 1,441,129,426.

What is TrueFi and How Does it Work?

TrueFi is a decentralized finance (DeFi) platform that offers high-interest rates and does not require collateral. Borrowers can request loans in TUSD (TrueUSD) without censorship, and the credit rating of their loans is determined through voting rights of TRU Stakers. Lenders not only earn attractive rates of return on the stablecoin they lend but can also farm TRU coins.

Earn Interest with TrueFi

Similar to platforms like Aave or Venus, TrueFi allows users to earn interest on stablecoin deposits. However, borrowers on TrueFi need to secure decentralized loans. The platform attracts industry players such as OTC exchanges, exchanges, and DeFi protocols who are looking for high-value long-term loans.

Attractive Rates for Lenders and Collateral-Free Loans for Borrowers

TrueFi offers lenders attractive interest rates, while borrowers can access fixed-rate loans without collateral. The lending and borrowing activity on TrueFi is transparent, allowing lenders to fully understand the participating borrower and the project's cash flow. Borrowers can create on-chain credit histories to aid in the vetting process, enabling TRU coin holders to assess the creditworthiness of new loan applicants.

How Does TrueFi Token Work in Practice?

Lenders (or LPs) add TUSD to the pools to lend and receive interest. They can also farm TRU coins. Any unused TUSD is deposited into the Curve Protocol to maximize profits.

Borrowers send loan requests to customized pools based on their desired interest rate and loan term. Instead of relying on third-party approval or lender approval, the loan agreement is approved or rejected through voting by TRU Stakers. In addition to lender approval, the voting rights of TRU Stakers play a crucial role in the loan approval process.

TRU Stakers not only vote "Yes" or "No" but also predict whether the borrower can repay the principal and interest before the due date. Stakers who make correct predictions receive TRU coin rewards from those who voted incorrectly.

After each vote, the number of TRU coins held by TRU coin holders can increase or decrease based on the successful repayment of the loan. Therefore, TRU Stakers should carefully consider their votes. The Smart Contract Pools accept or reject loans based on the pool's risk parameters and the Yes/No votes of TRU Stakers.

Borrowers must repay the principal and interest before or on time. Failure to do so may result in legal consequences as per the loan contract.

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