TrueFi

Halal Rating :
Questionable
Last Price $0.12 Last updated:
Rank 378
1D Change -1.04 %
Market Cap $139.43m
Circulating supply 1,138,008,731
Maximum supply 1,450,000,000

Crypto Overview

Categories
  • DeFi
  • Ethereum Ecosystem
  • Yield Farming
  • Avalanche Ecosystem
  • Lending & Borrowing
  • Real World Assets

It is a DeFi uncollateralized lending protocol developed by the TrustToken team. Lenders can borrow cryptocurrencies with predictable loan rates without the need to pledge collaterals like Aave, Compound, and Venus. In the long term, TrueFi aims to become a market-driven, automated credit rating and lending system. This will demand building beyond the rigid, conservative constraints such as minimum/maximum APY and high TRU participation factor. It will also require increased levels of responsibility from users, especially for onboarding new borrowers beyond the pre-approved whitelist and approving new loan types.

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.

Justification for our Halal Rating