Singapore, July 12, 2022 (GLOBE NEWSWIRE)-As a major cryptocurrency exchange, BitYard hosts DeFi’s first credit marketplace, the TrueFi team and AMA, and invites community leader Matt Kielczewski. And shared their views on what credit will look like, changing the future of on-chain credit.
With traditional financial lending methods, the borrower needs collateral to get the loan. TrueFi offers unsecured loans through a credit scoring mechanism. You can punish the default behavior of a loan even if the borrower does not have collateral. At the same time, we will introduce high-quality lenders with high interest rates and provide lenders with stable and large loans.
By betting TRUs on TrueFi, token holders will earn significant rewards in the form of token incentives and loan formation fees in exchange for guaranteeing the protocol lender in the default case. “APY staking is currently + 12%, which is before the origination fee,” says Matt, head of the TrueFi community.
For loan applications proposed by the borrower, the TRU pledgee will vote to decide whether to lend the loan. TRU stackers are encouraged to vote carefully, as such votes expose the possibility that the TRU stacker will suffer losses or gain profits.
“We saw TrueFi as an opportunity to help invest in the most growing places while minimizing friction. This first era of TrueFi was important to today’s designs. An independent portfolio manager drives financial opportunities in a chain and provides individual investors with the opportunity to support B2B fintech lending, emerging market investments and even cryptocurrencies. Today, TrueFi acts as a lending market. It connects borrowers seeking capital with portfolio managers who offer financial opportunities to lenders seeking yield. You can think of it as an app store, but it offers lending opportunities rather than apps, “Matt said. say.
TrueFi is initially focused on business as it is a lender for institutional investors. But they are now making it even easier for retailers to join their protocol! The first step in that direction was to launch a permanent protocol portfolio on optimism. With the launch of this portfolio, retail users will be able to dive into our lending protocol by using the Optimism L2 Ethereum Scaling Solution to park USDC with lower gas rates and faster transactions.
TrueFi was launched in November 2020 and became TrueFi DeFi’s first credit-based lending protocol. TrueFi allows portfolio managers to initiate unsecured lending opportunities on the chain to a global base of lenders and borrowers. Lenders enjoy profitable and sustainable yields across a variety of on-chain and off-chain financial opportunities, and borrowers have quick access to competitively priced capital without the need for collateral.
BitYard Is a one-stop cryptocurrency trading platform with the most professional services. Bityard provides users with trading solutions through spot, contract for difference (CFD), reverse perpetual contracts, USDT perpetual contracts, grid trading, and copy trading services.
Media contacts: Jeanne Hsieh
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