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TrueFi Dives Deeper Into DeFi With Binance, Chainlink, and SushiSwap

TrustToken, the team behind the TrueFi on-chain credit protocol and asset-backed tokens, has recently integrated with a few industry-leading firms in an effort to further embed into the DeFi ecosystem. This move is in line with their intention to make TrueFi safer, more robust and more lucrative for its users.

We’re thrilled to be rolling out such integral collaborations, with such notable partners, opening the door to millions more to use TrueFi’s credit and lending features—all with the lowest possible risks, and most robust rewards available. These relationships really put us right in the center of DeFi.

 

Rafael Cosman, CEO of TrustToken

Binance

TrueFi formed a partnership with Binance for on-platform TRU staking, the native token of the TrueFi protocol. Holders of TRU are now able to participate directly in the TrueFi protocol lending and assurance functionality, in addition to being incentivized with up to 30% APY for participating.

Binance users are also allowed to profit off their TRU holdings in just a few clicks due to improved accessibility.

The integration is expected to increase the amount of locked up TRU, currently at 32% of the entire circulating supply or 101 million TRU.

Chainlink

TrueFi’s integration with Chainlink is an expansion of its original integration with the market-leading oracle, which introduced proof of reserve for TUSD stablecoin.

Now, TrueFi’s smart contract platform uses Chainlink Price Feeds to access aggregated price data on TRU. TRU liquidation requires accurate data, in case of a defaulted loan. This automatically covers a portion of the lender’s losses at the most precise TRU price relative to the market, ensuring that TrueFi lenders are at least partly made whole by TRU stakers.

SushiSwap

TrustToken announces that it has migrated its TRU Farm to SushiSwap. TrueFi’s TRU will become one of the first assets to benefit from Sushiswap’s V2’s new “Double Rewards” offering. Sushiswap liquidity providers can now enjoy both TRU and SushiSwap’s native token, SUSHI.

With the combination of rewards integrated into the farm via SushiSwap’s exclusive liquidity farming program Onsen, the pool is provided with over 100% APY at launch.

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