This proposal is expected to appear on Snapshot for voting on Monday 19, April 2021 at 12:00 pm UTC.
- Proposal to whitelist TRU.
- Proposed co-investment is 500,000 BNT.
- There are no apparent security concerns that would prohibit whitelist status.
- There is no reason to doubt the legitimacy of the TrueFi project.
- The benefit to Bancor is clear.
Contract address: 0x4c19596f5aaff459fa38b0f7ed92f11ae6543784
Project Website: TrueFi.io
TRU does not have an elastic supply, or rebase mechanism. The TRU token supply is fixed at 1,450,000,000, of which 239,842,417 are in current circulation. Some tokens have been burned so in fact the total supply is now 1,442,485,442.37835615.
The contracts and addresses with the highest concentration of TRU tokens are predominantly unallocated community incentives, the token vesting contracts, two of the team’s wallets, and Binance. You can find an overview of the top wallets here and a detailed description of the token supply here.
TrueFi is an on-chain unsecured lending and credit protocol. Users are able to lend stablecoins (for now just TUSD, but shortly USDC and other tokens) to TrueFi and earn a 10%+ yield on their deposits. Borrowers are diligenced and approved by governance to be able to borrow without collateral requirements. TrueFi will also be launching an on-chain credit score that other protocols will be able to utilize in an effort to improve credit efficiency throughout DeFi.
TrueFi’s token, TRU is used for both governance and staking on the platform. TRU stakers deposit TRU into the protocol’s staking contract and are credited with stkTRU (currently, about 30% of circulating supply is being staked) which can be used for governance and approving loans. In the case of a default, stakers stand to lose a portion of their staked TRU. Stakers are also entitled to all fees generated by the protocol.
All audits can be found publicly on our Github page.
- ATH was $0.615301 (Feb 13, 2021)
- ATL was $0.108493 (Nov 26, 2020)
- Max supply of 1,442,485,442.37835615
- TRU is available on SushiSwap and Uniswap (currently incentivizing liquidity on Uniswap and will soon be shifting that over to Sushiswap)