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
- 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
- 39% – Incentives
- 26.75% – Pre-Sale
- 18.5% – Team
- 11.25% – Company/Foundation
- 4.5% – Future Team
Docs
Similar projects
TRU token price
