$7.5M Repaid, TrueFi v2, DeFi Integrations, Governance, and CEX Listings

TrueFi Roundup #002, Jan 16, 2020

Sharing the best of the past two weeks in an easy to read update. 

For more updates, please join our Discord, Twitter, and Governance Forum


In today’s issue:

  • Overview of loans repaid since last newsletter

  • TrueFi v2 Specs (improved staking + governance)

  • Ongoing business development efforts  (CREAM, SUSHI, CRV)

  • Governance Proposals

  • FTX Exchange Listing

Overview of Loan Activity:

2 loans have been successfully repaid since our last TrueFi newsletter in December. Alameda Research repaid their 3rd loan ($6.5M) and Invictus Capital repaid their first loan ($1M).

At https://app.truefi.io/loans you can use the “Select Status” dropdown in the top right to view the status all loans on the platform

TrueFi v2 Specs

TrueFi v2 is a series of upgrades to the original TrueFi specification. These upgrades improve and overhaul the TrueFi lending product, and focus on value accrual, decentralization, and automation. As the TrueFi roadmap is developed, upgrades will be made in phases synchronized with unlocked tokens entering circulation.

Finalized changes entailed in the TrueFi v2 spec will be presented to the community for review & snapshot signaling prior to implementation.

For an overview, please see: https://github.com/trusttoken/truefi-spec/blob/v2/truefi-v2.md

Business Development

CREAM

https://forum.cream.finance/t/proposal-add-truefi-lp-token-as-a-collateral-asset/408/3
We are working to increase the utility of TFI-LP tokens and ensure TrueFi users have optionality when deciding on how they want to unlock the value of their TFI-LP tokens. If you are also a CREAM token holder, please consider supporting the linked proposal above.

SushiSwap

$TRU was included in the launch of Sushiswap’s Onsen incentive program


SushiSwap TRU/ETH liquidity providers can now stake their SLP tokens and receive $SUSHI rewards. We are in contact with the SushiSwap team and will look to offer $TRU incentives for liquidity providers on top of the trading fees and $SUSHI rewards they are already receiving.

Curve

We are also exploring the possibility of a TFI-LP metapool on Curve.fi. An incentivized pool on Curve would increase the liquidity of TFI-LP tokens significantly as liquidity providers to this new pool would be earning CRV rewards, trading fees, and the underlying interest from holding TFI-LP tokens. Additional $TRU rewards could be allocated to this pool as well.

Dodo

Huge shoutout to community member, spidey, who got TRU added to $DODO’s default list 

Governance

Since the last issue of the TrueFi newsletter, various team members and borrowers have put forth governance proposals in the TrueFi discourse forums.

Three of these proposed changes are now official snapshot proposals. Please review them here and vote.


Expedited TIP - TRU Staking

Changing Loan Origination Fee

Lowering Minimum Loan Amount


Note that Snapshot enables off-chain voting so this will NOT incur any additional gas costs. You just have to sign a meta-transaction.

FTX Exchange Listing

On January 14, 2020, we were very pleased to see that FTX decided to list TRU markets including:

  1. TRU/USD spot

  2. TRU/USDT spot

  3. TRU-PERP

  4. TRU quarterly futures (TRU-0326)

FTX’s sister companyAlameda is an active borrower from the TrueFi protocol and we look forward to continued collaboration with their teams.