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What is TrueFi?

TrueFi (TRU) is a decentralized lending platform that connects lenders, borrowers, and portfolio managers via smart contracts governed by the TRU token. It facilitates uncollateralized loans, allowing borrowers to access capital without providing collateral, and lenders to earn returns on their investments. The platform aims to create a fully automated, market-based credit rating and lending mechanism, making credit more accessible, transparent, and programmable.

How is TrueFi used?

TrueFi (TRU) is a utility and governance token used in the TrueFi ecosystem, which is a decentralized lending protocol. Here are the key ways TRU is used:

  1. Governance: TRU holders have significant decision-making power through on-chain voting, which determines the direction of the protocol. They vote on loan requests, approve new borrowers and portfolio managers, and manage key treasury and partnership decisions.

  2. Staking: TRU can be staked to earn rewards. Stakers provide loss protection to lenders in the event of loan defaults and participate in token-gated DAO conversations to shape the future of the protocol.

  3. Lending and Borrowing: TRU is used to facilitate transactions within the TrueFi lending marketplace. Lenders offer their digital assets to the platform, and borrowers request loans without providing collateral. The credit committee reviews and approves loan requests, and TRU stakers vote on these requests.

  1. Portfolio Management: Portfolio managers create pools for lenders, and TRU stakers approve these managers. This allows for diversified lending opportunities and competitive returns for lenders.

  2. Token Management: TRU is an ERC-20 token on the Ethereum blockchain, and its holders manage the protocol's future through voting and staking.

Overall, TRU plays a central role in governing, securing, and facilitating the lending and borrowing processes within the TrueFi ecosystem.

How do I store TrueFi?

To store TrueFi (TRU) tokens, you have several options:

  1. KuCoin Account: You can store your TRU tokens in your KuCoin account, which provides quick access to trading products like spot and futures trading, staking, and lending. KuCoin serves as the custodian of your crypto assets, ensuring security and convenience. Make sure to set up a strong password and upgrade your security settings to prevent unauthorized access.

  2. Non-Custodial Wallets: For enhanced security, you can withdraw your TRU tokens to a non-custodial wallet. This option grants you complete control over your private keys. You can use hardware wallets, Web3 wallets, or paper wallets. However, this method may be less convenient if you frequently trade your TRU tokens or put them to use. Ensure you store your private keys securely to avoid losing your tokens.

  3. MyEtherWallet (MEW): You can also store your TRU tokens in a MyEtherWallet (MEW). To do this, navigate to the TRU token information page, and use the 'Send' button to transfer your tokens to the recipient's wallet.

  1. Coin98 Wallet: Another option is to store your TRU tokens in a Coin98 Wallet. To do this, open the Coin98 Wallet, click 'Receive' on the home screen, search for the TRU token, and follow the instructions to complete the process.

Each method has its pros and cons, so choose the one that best fits your needs and preferences.

How to buy TrueFi?

To buy TrueFi (TRU) tokens, follow these steps:

  1. Choose a Crypto Exchange: Select a reputable exchange that supports TRU trading. Some popular options include Uphold, KuCoin, Binance, Kraken, and Kriptomat. Ensure the exchange is available in your region, as some exchanges have restrictions for certain countries (e.g., Uphold is not available for Germany and the Netherlands, while KuCoin and Binance do not support USA residents).

  2. Create an Account: Sign up for the chosen exchange by providing the required information, including email and identity verification. This process typically takes a few minutes.

  3. Deposit Funds: Add funds to your exchange account using a debit card, credit card, wire transfer, or Bitcoin. The specific deposit methods may vary depending on the exchange.

  1. Buy TrueFi: Use your deposited funds to purchase TRU tokens. This can be done through the exchange's trading platform, which often provides a user-friendly interface for placing orders.

For detailed instructions and specific requirements, refer to the guides provided by each exchange:

  • Uphold:
  • KuCoin:
  • Binance:
  • Kraken:
  • Kriptomat:

Remember to carefully review the fees, risks, and terms associated with each exchange before making a purchase.

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History of TrueFi

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How TrueFi works

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TrueFi's strengths

TrueFi's risks

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Did TrueFi raise funds?

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