TrueFi is an uncollateralized lending DeFi protocol, powered by TRU. It allows lenders to earn high, stable returns on loaned cryptocurrencies (starting with TUSD) while having full transparency on how the loaned capital is allocated. Vetted borrowers, meanwhile, can use TrueFi for rapid access to fixed-term, fixed-rate cryptocurrency loans. TRU holders collectively assess the creditworthiness of the borrower and individual loan applications by staking TRU. Though TrueFi was initially built by the TrustToken team, who previously developed five top fiat-backed stablecoins, TrueFi is following a path towards progressive decentralization and will ultimately put the protocol in the hands of the community.
While the first protocols built on DeFi were strictly reserved for a handful of users and specific use cases, the new wave of protocol is paving the way for a broader adoption of the technology. TrueFi is the perfect example with this uncollateralized lending protocol, allowing a lot more than what the current lending protocols permit. In addition to that, the team behind the project is well respected and responsible for other well known solutions, notably the stablecoin tUSD. The token of the protocol is already trading and available on centralized (Binance) and decentralized (Uniswap) exchanges.