This article was first published on TrustToken - Medium
On-Chain Lending with High Yields and Borrowing Without Collateral
TrustToken is launching TrueFi, the protocol for uncollateralized lending, powered by the TRU token.
At launch on November 17th, TrueFi will allow vetted borrowers to request loans denominated in TUSD, TRU Stakers to assess the creditworthiness of the loans, and TUSD lenders to earn attractive APY on their stablecoins while also farming TRU. TrueFi is actively following the path of progressive decentralization putting control in the hands of the community.
While much of DeFi’s present success has been built on collateralized lending, uncollateralized lending is rightly seen as the next step for DeFi by those on its cutting edge. Uncollateralized lending provides an opportunity for lenders to earn long-term, competitive returns.
🧠 Learn More: Read on to learn more about how we got here, the present and future of the product, and how to start using TrueFi and earning TRU. Get a video walkthrough here.
👁 Explore TrueFi: Visit the product preview here ahead of our mainnet launch.
💻 Review the Technology: View the technical spec, which remains under technical audit.
History: Why We’re Building TrueFi
At TrustToken’s inception in 2017, our team envisioned a future in which traditional assets would move to the blockchain, taking advantage of the speed, cost savings, and borderless nature of decentralized protocols.
The thesis has played out in part: while global stablecoins (like our own), commodities, and some financial assets are increasingly moving on-chain, most real-world assets like real estate have struggled to find the infrastructure and demand necessary for a robust marketplace.
The explosion of DeFi introduced a new asset class with huge demand on the blockchain: debt.
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TrustToken - Medium