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Ethereum Lending

What is the TRU token used for?

How TrueFi uses the TRU token. TrueFi is a lending protocol for uncollateralized loans on Ethereum.

TRU token is


TRU is the governance and utility token of TrueFi.

TRU token is used for


  • Staking
  • Rewards
  • Fees

How could value accrue to the token?


Locking

  • Staking for rewards and voting.

Fees

  • Fees from the protocol to stakers.

What is TrueFi?


TrueFi is a lending protocol for uncollateralized loans.

How TrueFi works


Borrow

  • Borrowers are vetted and complete a KYC/AML process
  • Enter a loan contract with TrueTrading, TrustToken, Inc.
  • The loan is enforceable in court.
  • The proposal is submitted to TRU stakers who vote YES/NO.

Voting

  • Stakers vote on Loan applications

Staking

  • Stakers of TRU earn stkTRU.
  • These are used as a backstop for the protocol in the event of default. The risk for stakers is the Max Liquididation Rate.

Rewards for staking

  • Stakers earn loan origination fees and fees from the protocol.
  • Stakers also receive TRU as incentive.

Distributed per day = (totalAmount/10^8) / (duration/(24*3600))

Read more here.

Token Isssuance


Total supply: 1,441,129,426

Initital Allocation

  • 39% – Incentives 
  • 26.75% – Pre-Sale 
  • 18.5% – Team 
  • 11.25% – Company/Foundation
  • 4.5% – Future Team 

Docs


Similar projects


TRU token price


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