How and Where to Buy TrueFi (TRU) An Easy Step by Step Guide

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TrueFi is a decentralized system for on-chain uncollateralized lending. TrueFi's goal is to establish a market-driven, automated credit rating and lending system, allowing money to travel wherever it generates the greatest value in the shortest amount of time.

 

TrueFi is a DeFi lending protocol developed by TrustToken, the developer behind the TrueUSD (TUSD) stablecoin. Interestingly, the platform provides verified borrowers with access to finance without requiring them to pledge funds as security. TrueFi has officially launched on Ethereum's public blockchain, along with the cultivation of their TRU governance token.

 

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About TrueFi

TrueFi's objective is to offer uncollateralized lending to DeFi. This allows bitcoin lenders to earn excellent, long-term returns while providing crypto borrowers with predictable loans that maximize their operating capital. Importantly, all financing activities i.e. lending and borrowing on TrueFi are perfectly open, enabling lenders to fully understand cooperating borrowers and cash flows while working with TrueFi. 

 

TrueFi (TRU) is an Ethereum-based token that supports TrueFi, a distributed finance system that uses on-chain credit scores for uncollateralized lending. TRU can be leveraged for TrueFi protocol staking (approving or rejecting new loans) and administration.

 

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What is TrueFi [TRU]?

TrueFi is a DeFi lending platform that helps you to earn interest on stablecoin deposits. however, there is a key difference as TrueFi enables borrowers to comfy uncollateralized loans. The idea is the protocol will attract important enterprise players and institutions (such as OTC desks, exchanges, or other DeFi protocols) as debtors, trying to at ease high-fee long-time loans. Or new use cases for lending on-chain together with the actual-property zone, suppose mortgages, or industrial funding loans. currently, these are untapped conventional markets for DeFi given existing protocols are not sensible options for excessive-value loans.


 

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Who Are the Founders of TrueFi [TRU]?

Rafael Cosman launched the TrueFi project, and the entire startup team consisted of several dozen employees — no-name hipster programmers with MacBooks. The team has successfully developed a TrustToken stablecoin infrastructure and published two stablecoins based on it - TUSD and TGBP.

 

They were motivated to establish TrueFi by realizing that it's the most fascinating and profitable technology that connects traditional and crypto marketplaces.

 

Although the platform with the native TRU token was launched in 2020, the loan business was not completely operational until the end of the year — in November 2020.


 

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What Makes TRU Unique?

TrueFi is a protocol that allows liquidity providers to create interest-bearing pools with high APRs. TrueFi features utility and reward systems that use TrustTokens (TRU) to compensate players for maintaining consistent, high APRs.

 

TrueFi charges the lendee only 0.25 percent of the loan amount. These contributions are allocated to the platform fund, control of which is expected to be transferred to the community in the near future. Furthermore, TrueFi loan interest rates vary from 11.5 percent to 16 percent, which is lower than what most banks can provide. Credit trust rating setup by users has yet to be practiced on any DeFi network.


 

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Where Can You Buy TrueFi [TRU]?

TRU is now available for trading on an increasing number of exchanges, including cryptocurrency and stablecoin pairings. But, the most commonly used exchange platforms are Binance, Mandala Exchange, FTX, Coinbase Exchange, and ZT.

 

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Frequently Asked Questions

Is it possible to purchase TRU with cash?

No. It is not possible to purchase TrueFi with cash. You can, however, utilize markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.

Which blockchain network runs TRU?

TRU is run on Ethereum.

On what factors the price of the TrueFi Network [TRU] Depends?

Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact TrueFi’s price and market cap.

 

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Conclusion

TrueFi is a new DeFi protocol with a typical structure built around the same-named native token and the original concept of non-collateral loans. The project is supported by a strong team that is in charge of developing a platform for producing stablecoins as well as maintaining the operation of multiple stablecoins. TrueFi is a viable and far-reaching option in the field of decentralized lending, despite its short operating period 

 

TrueFi Official website  – https://truefi.io/

 

TrueFi Medium – https://reddit.com/r/TrustToken

 

TrueFi Twitter – https://twitter.com/TrustToken















































 

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