{"id":29190,"date":"2022-06-07T20:23:40","date_gmt":"2022-06-08T00:23:40","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=29190"},"modified":"2022-06-07T20:23:51","modified_gmt":"2022-06-08T00:23:51","slug":"truefi-lending-protocol-launches-on-optimism","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/truefi-lending-protocol-launches-on-optimism\/","title":{"rendered":"TrueFi lending protocol launches on Optimism"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-protocol-for-unsecured-lending-truefi-is-the-newest-project-to-debut-on-optimism-ethereum-s-popular-layer-2-scaling-solution\">Protocol for unsecured lending TrueFi is the newest project to debut on <a href=\"https:\/\/coinscreed.com\/staging\/heres-why-ethereum-founder-supports-non-token-governance-for-optimism-op.html\" target=\"_blank\" rel=\"noreferrer noopener\">Optimism<\/a>, Ethereum's popular layer-2 scaling solution.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-53.png\" alt=\"TrueFi lending protocol launches on Optimism\" class=\"wp-image-29195\" width=\"668\" height=\"392\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-53.png 574w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-53-300x176.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-53-150x88.png 150w\" sizes=\"(max-width: 668px) 100vw, 668px\" \/><figcaption>TrueFi lending protocol launches on Optimism<\/figcaption><\/figure>\n\n\n\n<p>TrueFi's lender community will benefit from a speedier and less expensive user experience, as well as exposure to a larger pool of retail lenders, by launching on Optimism.<\/p>\n\n\n\n<p>In a written statement, Rafael Cosman, co-founder of TrustToken, said, &#8220;TrueFi users may now lend, borrow, and start portfolios on Optimism to experience drastically reduced transaction costs and network speeds.&#8221; He went on to say:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" id=\"h-since-optimism-transactions-are-on-average-77x-cheaper-than-ethereum-we-expect-greater-adoption-from-non-institutional-lenders-hopefully-increasing-global-access-to-truefi-s-financial-opportunities\"><p>\u201cSince Optimism transactions are on average 77x cheaper than <a href=\"https:\/\/coinscreed.com\/staging\/bitcoin-ethereum-losses-may-have-bottom-at-these-levels-hayes.html\" target=\"_blank\" rel=\"noreferrer noopener\">Ethereum<\/a>, we expect greater adoption from non-institutional lenders, hopefully increasing global access to TrueFi\u2019s financial opportunities.\u201d<\/p><\/blockquote>\n\n\n\n<p>TrueFi was developed by TrustToken, a stablecoin operator, and distributed to institutional clients in November 2020. TrustToken created a new loan marketplace on TrueFi in February with the goal of allowing financial institutions to design and launch their own financial products.<\/p>\n\n\n\n<p>More than 40 protocols are currently deployed on Optimism, indicating that more projects are eager to make use of increased features such as scalability and lower pricing.<\/p>\n\n\n\n<p>Optimistic Rollups, a scaling method that works in combination with Ethereum's main chain, have been intended to accommodate any <a href=\"https:\/\/www.google.com\/search?q=TrueFi+lending+protocol+launches+on+Optimism&rlz=1C1SQJL_enNG889NG889&oq=TrueFi+lending+protocol+launches+on+Optimism&aqs=chrome..69i57.486j0j9&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">decentralized apps<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> operating on Ethereum.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"638\" height=\"269\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-52.png\" alt=\"\" class=\"wp-image-29194\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-52.png 638w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-52-300x126.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-52-150x63.png 150w\" sizes=\"(max-width: 638px) 100vw, 638px\" \/><figcaption>TVL on Optimism appears to be bucking the general downtrend in DeFi. Source: DeFi Llama<\/figcaption><\/figure>\n\n\n\n<p>With more projects launching on Optimism in the last week, the chain's <a href=\"https:\/\/coinscreed.com\/staging\/fantom-surpasses-binance-smart-chain-in-total-value-locked-in-defi-protocols.html\" target=\"_blank\" rel=\"noreferrer noopener\">total value locked<\/a>, or TVL, has increased. TVL currently has a market capitalization of $369 million, up over $100 million since May 29. Late in April, the network TVL reached a high of $510 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Protocol for unsecured lending TrueFi is the newest project to debut on Optimism, Ethereum&#8217;s popular layer-2 scaling solution. TrueFi&#8217;s lender community will benefit from a speedier and less expensive user experience, as well as exposure to a larger pool of retail lenders, by launching on Optimism. In a written statement, Rafael Cosman, co-founder of TrustToken, [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":29195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[128,4490,10430],"class_list":["post-29190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ethereum","tag-optimism","tag-truefi"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-53.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=29190"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/29195"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=29190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=29190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=29190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}