The DeFi wave has been gaining massive strength in 2020, and it’s more than obvious by now that the DeFi revolution is becoming more and more powerful.
Only back in October, the total number of Bitcoin locked in decentralized finance (DeFi) protocols have reached an all-time high as DeFi markets began to show strong signs of recovery.
TrustToken modernizes financial infrastructure
TrustToken aims to make economic opportunities open to all and to revolutionize financial infrastructure.
TrustToken are already known to be the makers of the world’s most transparent stablecoins, including TUSD.
They just launched TrueFi, which is a decentralized protocol for uncollateralized lending. After going live, in only 24 hours, it hit $35 million in total value.
This protocol has more benefits, and you can check them out below:
- brings a revolutionary approach to on-chain lending
- allows TRU holders to vote on incoming borrowers and uncollateralized load requests
- creates new ways for TrueCurrency users to generate stable and high DeFi returns
- empowers approved borrowers with fast, fixed-term and fixed-rate loans without the need of collateral requirements
It’s important to highlight the fact that these days, most DeFi platforms require borrowers to lock up assets such as ETH in excess of their loan amount in order to borrow capital.
TrueFi, on the other hand, is different because it lacks collateral requirements, and it brings massive transparency.
TrustToken’s launch of the TrueFi protocol
The TrustToken launch of the TruFi protocol that’s powered by TrustTokens (TRU) brings uncollateralized lending to DeFi. Lenders who are depositing TUSD into the lending pool will end up earning returns on all the outstanding loans, and they also have the ability to farm TRU.
This is possible with unallocated capital that is boosting earnings via the Curve protocol.
The lending process has maximum transparency from the beginning to its end. You can find out all the details that you need to know in the video above.
TrueFi brings novelty regarding the way in which the loans are processed, and this places the power in the hands of individuals, and not in those of centralized ratings agencies. This is a first, and that’s why it’s revolutionary.
“The aim is for TrueFi to become the ultimate market-driven, automated credit rating and lending system, freeing money to move wherever it creates the most value” according to Rafael Cosman, Co-Founder of TrustToken, who is quoted in an official press release.
He continued and explained that “It’s a significant pillar in our mission to increase access to financial opportunities, and our wide distribution of TRU will let anyone join in shaping the future of finance.”
Also, it’s worth noting that TrustToken’s TrueCurrencies include TUSD, TGBP, TAUD, TCAD, and THKD are the world’s fully collateralized stablecoins, and they’re moving billions in monthly trade volume across more than 100 trading partners.
Among the most important partners, we name Binance, OKEx and Huobi.