What is TrueFi Token?
The crypto space is equal to any financial institution that offers lending or borrowing along with buying or selling of tokens. The global lending market is very close to $8 trillion, yet the preferred lending platform remains the same, traditional banks or financial institutions which are governed. Hence, the more attractive and advanced investing options remain untouched and unexplored by retail investors.
TrueFi is the very first protocol for lending, borrowing, and managing capital. The platform’s capital markets interact with the investors, borrowers, and capital managers for uncollateralized lending in both crypto and the traditional financial world. It is a hybrid protocol that is designed to operate freely and is managed by the TRU holders which is the native token on the platform.
| Launch Date | November 21, 2020 |
| Founder | Rafael Cosman |
| Blockchain Protocol | Ethereum Blockchain |
| Native Token | TRU |
| Market Cap | $94.91 million |
| Token Type | ERC-20 & Native |
| Circulating Supply | 981.14 million |
| Max Supply | 1.45 billion |
| Consensus Method | Proof-of-Stake |
Who Are the Founders of TrueFi?
TrueFi was founded in November 2020 by Rafael Cosman aiming to build something which was completely missing within the DeFi space, uncollateralized lending protocol. He is the co-founder and the current CEO. He attended Stanford University and completed his graduation in Computer Science.
TrueFi offered its first uncollateralized loan of almost $2 billion to Alameda Research in November 2020. Presently, the platform has paid out nearly $40 million to lenders. Apart from this, Cosman is also the co-founder and CEO of Archblock which is the world’s most transparent and most efficient asset management platform.
How Does TrueFi Work?
TrueFi is a public protocol that offers the infrastructure to lend, borrow, or manage assets. As a result, the platform’s operation is comprised of an equal contribution from the elements listed below.
Lenders
To become a Lender on TrueFi, one can easily use the TrueFi app and register. Further, the lender can review various pools and portfolios to which he can qualify and make an allocation. They can even exit their loan positions at any time. Although the tokens are required to remain locked the platform’s DAO-managed pools and automated lines of credit (ALOCs) allow lenders to make an exit. Moreover, the lenders can also sell their loan tokens on a DEX.
Borrowers
To become a TrueFi borrower, one needs to undergo a rigorous creditworthiness check. It includes reviewing both on-chain and off-chain data along with the company background, assets under management, asset exposure, leverage, and performance history. Once the creditworthiness is verified, TrueFi’s Credit Committee, which is made up of the TRU holders, votes to approve or reject the applicant’s application.
Portfolio Managers
TrueFi portfolio managers are considered the best of both DeFi and institutional finance who can tap into the global liquidity 24/7 and enjoy cost savings and transparency of a fully on-chain lending book. They also have full control over the lending section and the terms of their portfolios and individual loans. Presently, the managers use DeFi liquidity to allocate capital in various investment options like Latin American Fintech sector, emerging markets, backing crypto mortgages, and many more.
What Makes TrueFi Unique-Uses Cases?
- The platform offers financial management, lending, and borrowing functions with transparency
- TrueFi offers an uncollateralized lending solution and with its use of smart contracts via the TRU token
- It offers an opportunity for the fund managers and takes their business on-chain
- It also offers the best of DeFi and institutional finance to these managers as they can tap into global liquidity
- The platform also maintains cost savings and transparency of a fully on-chain system
TrueFi Price Analysis
Source: Tradingview
- The TRU price is rising within an ascending triangle, ever since the price flipped from the narrow consolidation, a month ago
- Although, the price maintained an ascending trend, yet it has failed to clear the major support at $0.1354 which appears pretty distinct at the moment
- However, RSI is trading within the average regions and does not appear to have chosen its path
- Meanwhile, a minor bearish divergence is seen which may negatively impact the crypto price that may even compel to drop below the trend line
- Yet a rebound may rise the levels high and maintain a healthy upswing until the edge of the triangle
| TrueFi Price Today | $0.097 |
| Price Change <Yearly> | -46.8% |
| Market Dominance | 0.01% |
| Market Rank (as per CMC) | 268 |
| Market Cap | $95.5 million |
| Fully Diluted Market Cap | $140.93 million |
| ATH | $1.04 |
| ATL | NA |
How to Buy TrueFi in India?
If you want to buy TrueFi in India, just follow the below-mentioned steps,
- Download the CoinDCX App on your Smartphone
- Enter the details required for registration
- Complete KYC
- After verification, fund your wallet and buy TRU
