TrueFi
Crypto Overview
Overview
TrueFi is a DeFi protocol that aims to bring uncollateralized lending to cryptocurrency markets. The TRU token serves as the protocol's native token for governance and staking.
Intended Utility
The primary intended utility of TRU tokens is to enable protocol governance and staking for risk assessment. Token holders can stake TRU to vote on protocol decisions and earn rewards for participating in the risk assessment of borrowers.
Actual Utility
The protocol is actively being used for uncollateralized lending, with TRU tokens being utilized for their intended governance and staking purposes. The platform has processed significant loan volumes, indicating real adoption of the intended utility.
Token Distribution and Founder Analysis
TrueFi's token distribution includes allocations to team members and early investors with standard vesting schedules. The development team has maintained consistent progress on the protocol, with regular updates and improvements.
Technical Implementation
The protocol operates through smart contracts on the Ethereum blockchain, facilitating uncollateralized lending and borrowing. While lending and borrowing are core functions, the TRU token itself is primarily used for governance and staking rather than direct lending operations.
Crypto Impact
To assign a comfort level investing in TrueFi from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to TrueFi.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.