What is TrueFi (TRU) Coin
TrueFi is a protocol for creating interest-bearing pools with a high APR for liquidity providers. TrueFi includes utility and rewards mechanisms using TrustTokens (TRU) and rewards participants for maintaining stable, high APRs. TRU is the native token of the TrueFi protocol and is used for: TrustToken holders ultimately have a say over who is a credible borrower in the prediction market.
TRU gives the holder the ability to rate credit for third parties. Through TRU credit rating, a permissionless system of credit can be built which operates purely through incentives. TRU owners have part ownership in building a new credit system.
- TrueFi (TRU) is the ERC-20 native utility token of TrueFi, a Decentralized Finance (DeFi) protocol for uncollateralized lending.
- TrueFi works in the following ways:
- Add TrueUSD (TUSD) into a TrueFi pool to be used for lending, earning interest and farming TRU. Any unused capital is sent into the Curve protocol to maximize earnings.
- Borrowers (e.g. OTC desks, exchanges, and other protocols):
- Submit proposals to borrow capital from the pool. They submit the amount of capital they want, the % APY they are offering, the term, and the Ethereum address that will receive the loan capital if the proposal is approved.
- Borrow funds from the TrueFi pool by submitting requests subject to approval by TRU stakers who vote on these proposals. Each vote exposes participating TRU holders to upside or downside based on if the loan ends up being successfully repaid. As such, TRU stakers are incentivized to vote carefully.
- Borrowers must return the principal and interest on or before their respective loan terms expire. Delinquent borrowers will face legal action pursuant to the loan agreement signed.
- In the future, TRU token holders will also be able to participate in protocol governance decisions to direct the future development direction of TrueFi.
How To Buy TrueFi (TRU) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Tru coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Truefi coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a TrueFi (TRU) Coin
TrueFi (TRU) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
TrueFi (TRU) Coin Review
You can learn more about TrueFi (TRU) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://truefi.io/ Medium https://blog.trusttoken.com/ Documentation https://docs.truefi.io/truefi/ Telegram https://t.me/jointruefi Discord https://discord.com/invite/3tMyMqyqDj