TrueFi V3: Credit Model & New Asset Support

This article was first published on TrueFi - Medium
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DeFi credit scores & USDC Lending Pool with 2x incentives launch May 20th, 2021

Since the launch of TrueFi V2 in February 2021 — which delivered an improved staking model and Liquid Exit — DeFi’s first unsecured lending protocol has continued to hit major milestones across lending, borrowing, and product.

TrueFi has originated approximately $105 million in collateral-free loans across 27 loans and enjoyed a 100% repayment rate. The platform has attracted 15 of the industry’s top institutions as active borrowers, with dozens of new borrowers still under review, while also improving borrower due diligence with the launch of the Phase 1 credit model.

These loans have generated almost $1 million in returns (not including TRU incentives) for lenders and stakers in the form of origination fees and interest paid on loans, with a median APY of 14% and average term of 49 days.

The expansion of borrowing has attracted over $100m in total value locked (TVL), composed of approximately $75m in lending pool assets as well as ~30% of all TRU staked, representing about 70 million locked TRU tokens supporting the TrueFi platform as a backstop in the case of default.

At the same time, TrueFi has undergone significant product and UX improvements; partnered more deeply in the the DeFi ecosystem through integrations with Chainlink, Sushiswap, and other top crypto protocols; and improved protocol transparency with the launch of our Dune Analytics dashboards and TRU treasury auditing by top accounting partner Armanino LLP.

TrueFi’s next set of upgrades happen on May 20th, 2021, with the launch of TrueFi V3, delivering a new credit scoring system & opening the USDC pool with 2x incentives.
TrueFi Roadmap: Review the full outline here.

TrueFi V3: Launch of the Credit Model & Multi-Asset Support

V3 arrives with two extremely significant protocol upgrades: the introduction of the TrueFi credit model and the launch ...

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