| General information | |
|---|---|
| Global rank: | 279 |
| Name: |
TrustToken |
| Symbol: | TRU |
| Current coin price (XAF): | 109.41 FCFA |
| Last hour: | arrow_upward6.77 % |
| Last 24 hours: | arrow_upward34.11 % |
| Last 7 days: | 36.88 %trending_up |
| Capitalisation (XAF): | 27 445 349 450.85 FCFA |
| Volume 24h (XAF): | 387 703 294.30 FCFA |
| Available supply: | 250 857 660.00 TRU |
| Total coin supply: | 1 224 450 773.16 TRU |
| Start date: | 2020-06-03 |
TrustToken/CFA Franc BEAC (TRU/XAF) price chart
TrustToken/CFA Franc BEAC (TRU/XAF) capitalisation and volume charts
The Token (TRU):TrueFi (TRU) is an ERC-20 token on the Ethereum blockchain. It serves as the governance and utility token within the TrueFi platform. By holding and staking TRU tokens, users can have a say in the governance decisions of the platform, ranging from protocol upgrades to loan approval parameters.
The Platform (TrueFi):TrueFi is a decentralized finance (DeFi) platform that facilitates uncollateralized loans. Unlike many other DeFi lending protocols which require borrowers to over-collateralize, TrueFi evaluates and approves loans based on the trustworthiness of borrowers, essentially bringing credit scores and reputation to the blockchain. This allows it to offer loans without needing collateral, which is a unique approach within the crypto lending space.
TRU tokens play a multifaceted role in the TrueFi ecosystem:
Governance: TRU token holders can participate in voting on various proposals and platform changes.
Staking: Users can stake their TRU tokens to earn rewards and also to indicate trust towards borrowers. If a loan defaults, staked tokens might be used to cover the loss.
Rate Setting: TRU holders can influence interest rates on the platform.
TrueFi (TRU) was founded by Rafael Cosman. Rafael Cosman is also the CEO and Co-Founder at TrustToken, the company behind TrueFi.