The native ERC-20 token of TrueFi, a protocol for uncollateralised on-chain lending, has listed on the Binance cryptocurrency exchange just two months after its launch.
The exchange will add TRU to its Innovation Zone, a dedicated trading zone for new, innovative Decentralised Finance (DeFi) tokens.
The move comes as ether, the cryptocurrency of DeFi’s leading network, Ethereum, reaches new all-time highs and DeFi is expanding more rapidly than ever. Binance established Innovation Zone in September of last year for traders to buy and sell budding DeFi tokens to keep up with the growing demand. Joining these ranks, TRU represents the sole project focused on decentralised, uncollateralised lending.
Most lending platforms today require borrowers to lock up assets (like Ethereum), often in excess of their loan amount, to borrow capital. Powered by TRU, TrueFi differentiates from these players in how it approves incoming loan requests, by having no collateral requirements, and in building with transparency in mind.
TrueFi leads the charge in bringing uncollateralised lending to decentralised finance. TrueFi lenders who deposit TUSD into the lending pool will earn returns on all outstanding loans and may also farm TRU, with unallocated capital maximising earnings via the Curve protocol. TrueFi lenders also enjoy full visibility into every element of the lending process, from borrower profile to loan approval and the movement of funds.
“We’re proud to see TrueFi’s TRU recognised by the world’s most popular cryptocurrency exchange,” says Rafael Cosman, Co-Founder of TrustToken. “Binance has always maintained a rigorous selection process, and the TRU listing accelerates our goal of providing financial opportunity for all.”
