This article was first published on TrueFi - Medium
Wondering which tokens TrueFi uses? Meet TUSD, tfUSD, TRU, and stkTRU all in this post
TrueFi is an uncollateralized lending DeFi protocol, powered by the TRU token. At the core, it’s an uncollateralized lending protocol powered by an on-chain credit model — the first of its kind.
TrueFi loans are made to vetted, institutional-grade borrowers like Alameda Research, Poloniex, and Wintermute Trading, who once approved, get access to fast, fixed-rate cryptocurrency loans with no collateral requirements.
Decisions on new borrowers joining the platform, the terms of each loan, and the overall direction of the now decentralized TrueFi protocol is in the hands of TRU holders, who approve each new borrower and loan, receiving rewards for their participation.
TrueFI was made possible by a marriage of centralized and decentralized finance. Launched by TrustToken, known for launching and operating the popular TUSD stablecoin, TrueFi is moving quickly through progressive decentralization.
To effectively govern TrueFi, it’s important TrueFi users deeply understand it. After understanding just how the TrueFi platform works, a good next step is to understand the various digital assets that make TrueFi possible:
The Digital Assets Making TrueFi Possible:
Lendable Asset: TUSD
TUSD is a stablecoin backed 1:1 by the dollar, which is independently attested live & on-chain.
It was built by TrustToken and is the first asset that can be loaned to the TrueFi lending pool and borrowed by vetted borrowers.
More assets, including other stablecoins will be added over time, as TrueFi progresses towards V3 in May 2020, per the proposed TrueFi roadmap.
Token Information on CoinGecko & CoinMarketCap
Smart Contract: 0x0000000000085d4780B73119b644AE5ecd22b376
How is TUSD it used?
Lenders can lend their TUSD stablecoin to the TrueFi lending pools to earn an attractive return.
Borrowers can request loans denominated in TUSD. The lending pools will then lend the pooled TUSD deposits to approved borrowers, ...
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TrueFi - Medium