TrueFi Price in India (TRU)

TrueFi is a DeFi protocol built on the Ethereum blockchain that offers uncollateralized lending and borrowing services. Its native token, TRU, powers the platform, which aims to bridge the gap between traditional lending and DeFi by providing a seamless platform. 

TrueFi (TRU) was founded by Rafael Cosman in 2020.

• TRU token: The TRU token is the heart and soul of the TrueFi decentralized platform. It has several utilities, such as governance, staking, and incentivizing network participants in the ecosystem. 

• Uncollateralized lending: The TrueFi platform enables borrowers to access loans without providing collateral.

• On-chain credit scores: TrueFi uses on-chain credit scores to enhance borrowing and lending and to ensure safer lending practices.

• Decentralized and transparent: The TrueFi platform is fully decentralized. In addition, all lending and borrowing activities are recorded on the blockchain, offering full transparency to users.

The TrueFi platform’s native token, TRU, was launched in November 2020. TrueFi’s growth in the decentralized lending market, uncollateralized lending approach, on-chain credit scores, and transparency make its token appealing in the broader crypto market. The token ranks #400 in the overall crypto market, with a market cap of $134.8M, and holds an all-time high of $1.04. Technical experts anticipate the token reaching an average of $8.09 by 2030, making it a promising crypto. 

• TRU tokens can be bought and traded on crypto trading platforms.

• The TRU token facilitates all transactions within the TrueFi ecosystem.

• The token is used for governance, allowing token holders to participate in the platform’s decision-making.  

• The token can also be staked to earn staking rewards.

• The TrueFi platform enables borrowers to access loans without collateral.

• It uses on-chain credit scores to enhance borrowing and lending.

• All lending and borrowing activities are recorded on-chain, offering complete transparency.

• TRU is subject to market volatility, like any other cryptos.

• Uncollateralized loans can face higher risk compared to collateralized loans.

• DeFi lending platforms are still new to a large majority and face competition from traditional financial institutions.

• Start trading in TRU with just ₹100.

• TRU price is updated in INR in real-time.

• You can trade in TRU and 300+ other cryptos in an easy-to-use and secure environment on CoinSwitch.

TrueFi held its Initial Coin Offering (ICO) in November 2020, raising funds to support its protocol. During the ICO, the TRU tokens were sold at $0.03 per token and raised over $12M. In addition, the tokens were distributed to early adopters to create a community-driven ecosystem. The token allocations include 26.75% in pre-sale, 4.5% for future teams, 39% as incentives for liquidity providers, 11.25% for the company, and 18.5% for employees. Investors of the TrueFi protocol include reputed venture capitalists such as Andreessen Horowitz, Jump Trading, BlockTower Capital, and Distributed Global.