TrueFi is a protocol that creates interest-bearing pools with high APRs for liquidity providers. It incorporates utility and reward mechanisms using TrustTokens (TRU) and rewards participants for sustaining stable, high APRs.
What is TrueFi (TRU)?TRU is the native token of the TrueFi protocol and is used for: TrustToken holders ultimately have the right to voice their opinion in the prediction market about who is a trustworthy borrower. TRU grants its holder the ability to rate credit for third parties. A permissionless credit system operating entirely on incentives can be established with the TRU credit score. TRU holders partially own the right to create a new credit system.
On the other hand, TrueFi is a DeFi lending platform similar to Aave or Venus, allowing you to earn interest on stablecoin deposits. However, a significant difference is that TrueFi enables borrowers to secure uncollateralized loans. The idea here is that the protocol aims to attract large industry players and institutions as loan takers who want to secure high-value, long-term loans.
Additionally, there are three use cases for TRU tokens on the TrueFi platform:
Staking: When a loan request comes through the TRU token, stakers vote “Yes” or “No” on the loan’s approval. Since rewards are based on the loan being repaid successfully, stakers are incentivized to vote carefully.Farming: To bootstrap liquidity, TRU tokens are initially distributed to lenders and stakers as rewards through liquidity mining programs on Uniswap or Balancer.Governance: After TRU is distributed fairly and decentralized, the future development of TrueFi will be community-driven.It is reported that TrustToken has taken many steps since its launch. For example; the protocol code underwent a complete security audit by Slowmist. Furthermore, the distribution of TRU is 100% through farming, ensuring a fair launch. Moreover, any tokens collected by the team’s own funds will either be burned or reinvested into the community.
Additionally, the TRU token does not follow an inflationary economic model since it has a fixed supply. Thus, potential yield farmers do not need to worry about continuous downward selling pressure.
Where to Buy TRU Coin?TRU Coin can be quickly and securely purchased via Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy TRU Coin, one must first sign up to Binance and then send fiat money. After sending a fiat currency like dollars, the purchase can be made in the Bitcoin (BTC), BUSD, and Tether (USDT) TRU trading pairs.
Additionally, on Binance, users can place orders to buy at a lower price than the market value. For this, you just need to use the Limit tab and enter the amount and price you want to buy at.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
SponsoredUpdated Mar 25, 2024, 5:01 p.m. Published Mar 25, 2024, 4:59 p.m.
2 min read
(Jason Leung/Unsplash, modified by CoinDesk)Investors will be able to deposit TrueFi's T-bill token to borrow the platform's new TRI token.TRI holders will be able to stake the token to earn a yield from borrowing fees.The offering comes as DeFi activity and demand for leverage picked up amid the current crypto bull market.Decentralized finance (DeFi) lender TrueFi unveiled plans Monday to start a real-world-asset-based (RWA) lending platform called Trinity to boost utility for its tokenized U.S. Treasury offering.
Trinity will let users take out crypto loans using tokenized RWAs as collateral. TrueFi's Treasury bill token (tfBILL) will be the first, with plans to add other yield-generating tokenized products in the future, according to a TrueFi governance proposal by ecosystem developer organization Wallfacer Labs.
Investors will be able to borrow the platform's TRI token by pledging the tfBILL tokens, using the borrowed crypto to create DeFi strategies to earn up to 15% annualized yield, the proposal said. Investors will also be able to buy TRI tokens on secondary markets such as decentralized exchanges, and stake them to earn a yield from the platform's borrowing fees.
The proposal to launch Trinity is pending approval by the TrueFi decentralized autonomous organization.
Trinity will let investors take out loans against TrueFi's tokenized Treasury bill. (Wallfacer Labs)The proposed new platform follows a resurgence in DeFi activity in recent months, with crypto-native yields and demand for leverage rapidly increasing amid the roaring digital asset bull market. The CoinDesk 20 Index, a measure of the most liquid crypto tokens, has risen almost 50% since the start of the year.
TrueFi was a key lender during the previous crypto bull cycle, originating over $1.5 billion of undercollateralized loans mainly to trading firms and market makers. As crypto prices cratered in 2022 with multiple firms imploding, some borrowers failed to repay their loans and depositors fled. The protocol's total value locked dropped to $20 million by the end of 2022 from a peak of over $900 million in 2021.
Last year, TrueFi introduced the tokenized U.S. Treasury offering, which had recently attracted $8.7 million of deposits.
TrueFi's governance token TRU$0.0₃8998 jumped 14% after the proposal was published at 15:53 UTC, and has gained some 20% in the past 24 hours.
Cicada Partners and TrueFi are launching uncollateralised loans on Arbitrum.The niche has led to some of the largest and most expensive bankruptcies in recent years.There’s little to no standardisation in how crypto firms are assessed for underwriting.TrueFi, a credit protocol, is teaming up with risk managers Cicada Partners to bring what’s been a cornerstone of traditional finance — borrowing more with less — to crypto.
Undercollateralised lending is a fraught business, marred by catastrophic failures over the past few years.
The multi-billion-dollar collapse of centralised lenders Celsius, BlockFi and Genesis sent ripples across the industry, defining the crypto winter of 2022 and 2023. Decentralised lenders have had their fair share of carnage, too.
Recent attempts at unbacked lending on DeFi protocols like Goldfinch have resulted in millions of dollars worth of defaults.
Despite previous catastrophic failures, TrueFi and Cicada are giving it another shot.
After all, it’s a massive opportunity.
A 2023 report from Allied Market Research predicts the global market for unsecured business loans across all industries will hit $12.5 trillion by 2031.
“The negative stigma is largely one that comes from a lack of education on the topic,” Ryan Rodenbaugh, CEO and co-founder of Wallfacer Labs, a core contributor to the TrueFi protocol, told DL News.
To be sure, lending exists in the crypto industry, but the majority of loans demand borrowers to put up more collateral than they can borrow. In the permissionless world of DeFi, it’s the only way to minimise the risk that your counterparty won’t run off with the money.
For uncollateralised lending, the only assurance of reimbursement is the trustworthiness and track record of the borrower.
It all hinges on a firm’s ability to accurately assess risk. In this case, that means TrueFi and Cicada.
“Given loans are issued based on onchain and offchain balance sheets, there has to be a centralised underwriter who has to analyse all of this data and issue an opinion,” Ashwath Balakrishnan, head of Delphi Creative, told DL News.
Taking things slowThe two companies will provide lines of credit to crypto-native trading firms, a demographic notoriously unable to take out loans from traditional banks that can’t bear the risk.
But for an industry with a disastrous history of under-collateralised lending, attracting business is a challenge. When DL News asked how they’ll differentiate themselves from previous catastrophes, Rodenbaugh said by taking things slow.
“Risk-managed and slow-growth underwriting works well,” he said, referring to the process by which entities calculate and take on the financial risk of loans.
The new platform is not their first foray into lending. TrueFi already runs a small, uncollateralised lending market on Ethereum worth nearly $24 million.
Cicada also underwrote uncollateralised loans on DeFi lender Maple Finance, a venture not without its own failures.
Lenders on Maple took a big hit in December 2022 when borrower Orthogonal Trading defaulted on eight loans totalling $36 million.
Months prior, crypto hedge fund Invictus Capital and crypto investment firm Blockwater Technologies failed to repay loans on TrueFi totalling $4.4 million.
But Rodenbaugh said the TrueFi platform, which has in its lifetime lent $1.7 billion across over 150 loans, has a default rate of less than 1%. Similarly, Cicada Partners, which has underwritten over $850 million in loans since 2021, has a 1.2% default rate.
“Both protocols had losses, as you would expect in any form of credit, but neither of our protocols suffered the catastrophic losses seen by firms like BlockFi, Genesis, Celsius, etc,” Rodenbaugh said.
TrueFi and Cicada’s default rates are comparable to those in traditional financial markets. According to the Federal Reserve Bank of St. Louis, the average delinquency rate on business loans across all commercial banks was 1.13% in the first quarter of 2024.
“No standardisation means there’s no way to confirm for sure data is legit.”
— Ashwath Balakrishnan, head of Delphi CreativeSefton Kincaid, founder of Cicada Partners, told DL News the low default rates were because the pair were highly selective in who they loaned to and a strict due diligence process.
He said the pair examined the performance track records of potential borrowers across multiple trading cycles before agreeing to underwrite loans.
Still, that might not be enough. Compared to traditional markets, there’s little to no standardisation in how crypto firms are assessed for underwriting.
“No standardisation means there’s no way to confirm for sure data is legit,” Balakrishnan told DL News. “You as a lender must trust that the underwriter is doing their job properly.”
Deploying on ArbitrumThe pair have built their new lending market on Ethereum layer 2 Arbitrum.
Rodenbaugh said TrueFi and Cicada chose Arbitrum over other blockchains because it’s the Ethereum layer 2 with the most deposits and also the farthest along in terms of decentralisation.
The network’s foundation also agreed to provide an ARB token grant to encourage interest, but it has not disclosed publicly how big the grant will be.
The question now is whether TrueFi and Cicada can attract enough high-quality borrowers.
Cicada’s Kincaid said his firm identified over 20 borrowers — mostly trading firms — looking to take out lines of credit worth over $300 million at 13 to 15% interest.
If the pair courted all these borrowers, it would make the new protocol the fourth-largest real-world asset DeFi protocol as tracked by DefiLlama.
Multi-stage investment firm DWF Labs joined TrueFi as a market maker. The price of the TRU token surged by more than 10% in the past 24 hours. 7.5 million TRU tokens were sent to DWF Labs as part of the proposal. DWF Labs, the Web3 investment firm, is set to become the market maker for TrueFi, a leading DeFi lending platform.
This partnership, formalized through a recent governance proposal passed on July 10th, highlights the increasing maturation of the DeFi sector and the potential for traditional financial players to play a more active role in this rapidly evolving landscape.
Notably, the proposal to appoint DWF Labs as the market maker was submitted on May 27. The proposal was subsequently put to a vote on July 2 on Tally, a front-end for on-chain DAOs. As per post, the proposal received approval on July 10, officially appointing DWF Labs as the market maker for TrueFi.
Following the approval, a wallet received 7.5 million TRU, the native token of the TrueFi project, aligning with the terms outlined in the proposal. The proposal stated that DWF Labs could provide funding to the TrueFi team in the future, if needed, adding:
DWF Labs excels in dynamic prop trading, employing varied strategies in both CeFi and DeFi, including liquidity provisioning in DEXs and CEXs, cross-venue arbitrage, and HFT. We can enhance liquidity for TRU in both spot and perp markets.
Yet another X post detailed the terms of the arrangement, revealing that the 7.5 million tokens were borrowed for a period of 24 months. DWF Labs will provide a 3% annual interest yield, paid every four weeks via stablecoins Tether (USDT) and USD Coin (USDC). Additionally, the market-making target is a bid-ask spread of 35 basis points.
As a result of DWF Labs’ appointment, TRU surged by more than 10% in the past 24 hours, according to CoinMarketCap data.
As a result of DWF Labs being appointed as TrueFi market maker, TRU surged by more than 10% in the past 24 hours, according to data from CoinMarketCap.
DWF Labs and TrueFi have maintained active communication throughout the year, with DWF Labs recently announcing a series of growth initiatives. These include the debut of a new website to improve market transparency and fairness, as well as partnerships with the TON Foundation and Fireblocks.
On May 28, DWF Labs announced its MEME track fund and partnered with LADYS, FLOKI, GME, and MAGA. GALA, a project within the firm’s portfolio, is also one of the top four assets on the chain.Additionally, DWF Labs also launched a $20 million cloudbreak fund to support Web3 projects and their leaders in regions where Chinese is the primary language. The fund focuses on gaming finance (GameFi), social finance (SocialFi), memecoins, derivatives, and layer-1/layer-2 projects.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
The total value locked (TVL) in multiple cryptocurrency projects achieved significant growth. The research document published by Phoenix Group uses data from DeFiLlama to present the top projects based on their TVL weekly growth performance. TrueFi (TRU) stands as the top project with $260.2k increase in its TVL representing a 424% surge surpassing other projects in terms of locked value.
Three DeFi projects Mint ($MINT), Maple ($MPL), and Zircuit ($ZRC) experienced significant TVL growth after TrueFi. Mint holds $1.5 million while Maple secures $454.4 million and Zircuit maintains a TVL of $890.8 million. The increasing TVL shows that decentralized finance (DeFi) markets receive more investor trust and experience more activity.
Notable Projects Experiencing TVL Expansion Three DeFi protocols Note ($NOTE), Euler ($EUL), and Velodrome ($VELO) show substantial TVL growth resulting in value increases of $13.5 million, $377.1 million, and $66.7 million respectively. Various DeFi platforms found in the list indicate that decentralized financial applications are gaining growing popularity across the market.
The TVL figures from Level ($LVL), Earn Network ($ERN), and Tokenlon ($LON) reached more than $87.7 million, $3.2 million, and $1.1 million respectively. The multiprotocol growth across different platforms reflects the diverse characteristics of the DeFi sector since various protocols gain simultaneous traction.
Market Capitalization and Investor Confidence The major increase in TVL demonstrates growing liquidity and project participation levels, which both derive from market confidence and shifting market dynamics. The amount of token value locked within a protocol point to increased protocol usage alongside user trust, which results in enhanced development and an expanding ecosystem.
$IDLE and $PUFFER along with $BLUE and $CPOOL reported successive TVL growth reaching $51.1 million and $172.3 million respectively. These ongoing market trends currently shape the DeFi landscape by drawing more capital inflows which enhances decentralized financial networks.
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Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
We recently published the Q3-2025 DAO report and as such wanted to share our updated vision with the broader crypto community. Over the past year, TrueFi has undergone a strategic transformation. Following a period focused on stabilizing operations, reducing costs, and rebuilding key infrastructure, the DAO is now entering a new phase centered on growth: scaling total value locked (TVL), reactivating KYC-enabled lending, and generating sustainable fee revenue.
At the start of 2025, TrueFi’s priorities were clear: rebuild essential systems, cut excess spending, and re-establish operational control. The Foundation inherited a complex and costly structure that required decisive action. Through careful resource management, vendor consolidation, and focused execution, the team succeeded in reducing expenses by roughly 75% while maintaining core development and governance functions.
This efficiency drive not only extended the DAO’s financial runway but also enabled continued progress on critical technical milestones. With the completion of the Elara codebase, the integration of Cyan on Hyperliquid, and the strategic partnership and investment in Accountable, TrueFi’s infrastructure is now primed for scalable, compliant lending activity.
The Foundation also completed a full front-end reskin, now in its final phase user acceptance testing and is on track for an October launch. This new interface will deliver a modern, intuitive user experience and reintroduce on-chain lending through KYC-enabled vaults.
Together, these efforts have set the stage for TrueFi’s next chapter: growth.
Elara Codebase Completion
The Elara framework, TrueFi’s compliant and composable stablecoin and treasury management infrastructure, reached full code completion this quarter. With yield-distributing smart contracts, comprehensive frontend and backend implementation, and 98% test coverage, Elara has been deployed to the Sepolia testnet.
The team also completed internal security reviews and secured audit quotes from top firms and an independent security researcher. Once live, Elara will compliantly power stable income generation, support diversified collateral types, and deliver institutional-grade transparency. It represents a major step toward reestablishing TrueFi as a leader in scalable DeFi infrastructure.
Cyan Integration on Hyperliquid
The integration of Cyan with Hyperliquid marks a major step toward connecting decentralized credit markets with deep on-chain liquidity. Cyan serves as a coordination layer that links lenders, borrowers, and liquidity venues for efficient loan origination and execution. Its infrastructure allows asset owners to access liquidity while retaining upside from airdrops and future appreciation.
By enabling NFT-backed and over-collateralized lending on Hyperliquid, the integration opens a new frontier for structured credit products in decentralized finance. The team successfully bootstrapped initial liquidity for Cyan’s NFT lending markets on the HyperEVM, a segment poised for meaningful growth as DeFi credit continues to evolve.
Accountable Partnership and Investment
TrueFi’s strategic partnership and investment in Accountable reinforces the Foundation’s commitment to privacy-preserving credit infrastructure. Accountable’s zero-knowledge verification technology allows institutions to prove assets and liabilities without revealing sensitive data such as wallet addresses, trading strategies, or API keys.
This integration complements TrueFi’s long-term mission to create a transparent yet privacy-conscious credit layer for both traditional and crypto-native markets. The collaboration also expands TrueFi’s reach, enabling stronger underwriting frameworks and unlocking new opportunities for compliant, real-world lending.
Cost efficiency remains one of the Foundation’s most significant achievements this year. By centralizing vendor contracts, renegotiating key agreements, and eliminating redundant expenses, the DAO preserved financial stability while funding high-impact initiatives.
This discipline reflects a cultural shift at TrueFi. We are committed to doing more with less, measuring progress through delivery and results rather than spend. It also ensures that future growth initiatives, from KYC-enabled lending to ecosystem partnerships, are built on sustainable financial footing.
With the core infrastructure complete and operations streamlined, TrueFi’s focus now turns to measurable growth.
Reactivating KYC-Enabled Lending
With the completion of the new front-end, the Foundation plans to resume KYC-enabled lending in Q4. This unlocks participation from regulated institutions seeking compliant exposure to on-chain credit, expanding the addressable borrower base and driving new inflows of capital.
Growing Total Value Locked (TVL)
Increasing TVL remains the DAO’s most important growth metric. Through targeted business development and strategic partnerships, TrueFi aims to attract institutional and crypto-native groups to use its time-tested vaults in their borrow-lend activity.
In addition to classic credit vault TVL, we will also aim to ramp up activity on Cyan. While NFT lending today represents a departure from TrueFi’s origins, these high-margin loans are an attractive source of diversified revenue.
Generating Fee Revenue for the DAO
The reactivation of lending activity will directly translate into fee revenue, strengthening DAO self-sufficiency. As lending volumes rise, these fees will support continued development, investments, and community incentives, completing the flywheel between protocol usage and DAO growth. We look forward to sharing more about our plans here in the second half of 2026.
Elara and the Stablecoin Opportunity
Elara, the stablecoin and treasury management project owned by TrueFi, represents an additional growth lever. As the team prepares to deploy elUSD across multiple chains, we expect to see meaningful expansion in circulating supply, which should establish a stable and recurring revenue base from which the project can scale. TrueFi intends to collaborate closely with Elara, supporting its adoption and integrating its credit capabilities when it makes sense. Over time, the DAO will also explore opportunities to monetize its Elara holdings in a way that supports long-term value creation for the community.
TrueFi enters Q4 2025 with a clear mandate: move from rebuilding to scaling. The team’s near-term priorities are to launch Elara, activate compliant lending vaults, grow TVL, and begin generating consistent income for the DAO.
These efforts mark the culmination of a year defined by efficiency and delivery and the beginning of one centered on growth and sustainability.
With a lean operating model, robust infrastructure, and a growing network of partners, TrueFi is positioned to reassert itself as a leading credit layer within decentralized finance. Strategic investments in Cyan and Elara provide a healthy pipeline of diversified revenue and future investment opportunities for the DAO.
Today, we’re excited to announce TrueFi’s strategic investment in Accountable, the new standard for real-time financial verification. Accountable enables institutions to prove financial health privately, powered by zero-knowledge proofs. This investment, a small contribution to the project’s latest funding round led by Pantera Capital, represents a significant step forward in our mission to enable sophisticated, real-world lending while maintaining the decentralization and composability that make DeFi transformative.
As we build toward the next phase of on-chain lending, TrueFi is investing in infrastructure that enhances both privacy and efficiency while preserving the transparency and reliability we’ve brought to real-world credit markets. Our collaboration with Accountable reflects this vision: : by supporting a verifiable trust layer for borrower health, we extend our commitment to institutional-grade lending and help shape a more private, composable, and interoperable credit stack.
Traditional DeFi lending faces the fundamental limitation of requiring over-collateralization, which is capital inefficient and constrains economic growth. While protocols like Aave and Compound have proven the viability of on-chain lending, their reliance on excess collateral means borrowers must lock up more capital than they receive, limiting the productive use of funds.
As the industry moves toward uncollateralized loans, establishing trust between lenders and borrowers raises a new challenge. Historically, overcoming this trust gap has required borrowers to sacrifice privacy, exposing sensitive financial data, wallet activities, and business operations to public scrutiny or centralized intermediaries.
Accountable solves this challenge with privacy-preserving attestations. Using zero-knowledge proofs, borrowers can prove income, assets, or other financial metrics without exposing underlying data. In practice, this enables selective transparency: lenders get the information they need, while borrowers preserve control and privacy.
This unlocks scalable under-collateralized lending, essential for the growth of both institutional DeFi and tokenized real-world assets.
The synergies between our platforms underpin the strategic nature of this investment and are compelling across multiple dimensions:
Shared Mission: Both projects are committed to scaling uncollateralized and real-world lending in a trust-minimized manner. Together we’re going to build solutions that consider both the benefits and challenges of operating on-chain.
Complementary Capabilities: TrueFi provides the lending infrastructure, smart contract architecture, and exciting optionality through our ties to Elara and Cyan. Accountable contributes the Data Verification Network (DVN), a privacy-preserving system for real-time proofs. Together we can deliver a complete solution that increases capital efficiency and unlocks network effects.
Proven Collaboration: TrueFi is already live with Accountable’s YieldApp on testnet, the first marketplace for verifiable yield opportunities.
Strategic Positioning: This investment gives TrueFi role at the forefront of privacy-preserving, verifiable credit infrastructure, aligning with Accountable’s Data Verification Network and enabling us to shape the next generation of institutional-grade, on-chain lending.
Accountable’s funding round, led by Pantera Capital, signals broader industry recognition of the importance of privacy-preserving, verifiable, financial infrastructure and the growth potential of DeFi credit markets.
Secured backing from a strong brand in crypto venture is aligned with growing institutional interest in DeFi solutions that can bridge the gap between traditional finance and decentralized protocols while maintaining the composability and reach that make DeFi compelling.
Our collaboration with Accountable places TrueFi at the leading edge of on-chain lending. As we evolve our platform and reintroduce real-world lending, tools like Accountable’s Data Verification Network and Vault-as-a-Service allow us to do so with greater efficiency and flexibility.
Imagine a borrower proving income from off-chain sources, demonstrating on-chain activity, or sharing balance sheet data, all while avoiding exposure of sensitive details on public blockchains or even to lenders beyond what’s required for underwriting.
Looking ahead, we’re committed to building infrastructure that supports the next wave of financial applications that respect user privacy while enabling rigorous, data-rich credit assessments. This approach not only strengthens TrueFi’s ecosystem but sets a precedent for how decentralized credit markets can scale responsibly.
We’re incredibly excited to work with the Accountable team as they continue to push the boundaries of what’s possible with zero-knowledge proofs in finance. Their technical expertise, combined with TrueFi’s lending infrastructure and market experience, creates opportunities that neither of us could realize alone.
This investment reaffirms TrueFi’s commitment to pushing the boundaries of decentralized financial infrastructure. Whether you’re a builder interested in privacy-preserving financial applications, a borrower seeking access to decentralized credit, or a lender looking for new opportunities in real-world assets, we invite you to join us in this next phase of TrueFi’s evolution.
The future of decentralized credit is verifiable, private, and accessible. With partners like Accountable, we’re making that future a reality.
Learn more about TrueFi at truefi.io and follow our progress on Twitter. For full details, read Accountable’s official announcement and visit accountable.capital to learn more about Data Verification Network (DVN).
As we wrap up 2025, the TrueFi community deserves a clear and honest look at what we’ve accomplished over the past year and where we are going next. It has been a year of rebuilding from the inside out. Not the loud, flashy kind of rebuilding that makes headlines. The quieter kind where systems get untangled, expenses get streamlined, and foundations get strengthened so that meaningful growth can happen again.
2026 is going to bring some of the most exciting announcements in the project’s history. Before we get there, though, it is worth reflecting on how far the protocol has come.
TrueFi entered 2025 with a number of legacy issues that needed to be addressed. Much of this stemmed from earlier eras of the project where processes were handed off, wallets were scattered, contracts were unclear, and costs tended to drift upward rather than downward.
One of our core priorities this year was tackling those issues head-on. The most measurable result is the dramatic reduction of our monthly burn. At the start of the year, TrueFi’s monthly operating costs were still running above $400,000. Through systematic cost reviews, renegotiation of vendor relationships, consolidation of IT services, and a careful rethink of every recurring expense, we have brought that figure down to about $150,000 per month.
Importantly, we expect this number to fall even further in early 2026. Many of the decisions made over the past year have lagging cost benefits that will show up in the coming months. Of course, the goal is not austerity for its own sake. We’re ensuring that every dollar spent moves the protocol toward long-term sustainability and value creation.
Another major initiative in 2025 was completing the cleanup of legacy IT and service infrastructure. This included untangling systems still linked to old founder cards and reorganizing accounts so the DAO has clear, auditable control. While this type of work rarely gets attention, it is essential for any protocol that wants to operate responsibly and maintain security. It also took a long time to complete! That said, we are leaving 2025 with a much cleaner, simpler, and more transparent operational footprint than we started with.
Another meaningful win has been the work on wallet cleanup. As TrueFi evolved, various assets were scattered across legacy wallets, multisigs, and smart contracts that were no longer in active use. This led to stranded capital, as well as unnecessary complexity around financial reporting and treasury management.
In 2025 we took a systematic approach to reviewing all known addresses, recovering idle assets, standardizing ownership, and building a clean map of protocol-controlled capital. That effort is now in its final stages. Once completed, TrueFi will have a much tighter grip on its treasury and a clear picture of its resources as we enter 2026.
One of the most exciting developments this year was the completion of the Cyan acquisition. Cyan is a revenue-generating NFT lending platform with a talented team and a product that complements TrueFi’s long-held vision for permissionless credit markets.
This acquisition gives TrueFi exposure to a new category of on-chain credit, one that behaves differently from RWA lending (today) and opens the door to new use cases for both users and partners.
Cyan also launched on Hyperliquid in 2025, expanding its reach into one of the most active ecosystems in crypto. As we head into 2026, we are rolling out a new incentive program designed to encourage activity on Cyan in a way that is economically positive for the protocol. Unlike traditional emissions-based campaigns, ours focuses on strengthening activity and deepening real usage rather than paying for short-term spikes. Full details will be released publicly in the coming weeks.
The team at Cyan has been exceptional to work with. Their culture blends well with ours and we look forward to building with them in the coming year.
While much of our focus over the past year was dedicated to internal cleanup and infrastructure improvements, we also made progress on the user-facing side of TrueFi. The front end underwent a complete reskin, giving users a cleaner and more modern interface. Our aim is to make TrueFi feel intuitive and accessible while still maintaining the sophistication expected of an institutional-grade credit protocol.
Alongside the redesign, we have been integrating Keyring as a compliance gateway for the protocol. Now in final testing, this system will give institutions and regulated entities a smooth, secure way to access TrueFi without requiring bespoke integrations or manual processes. Compliance infrastructure is a critical ingredient for bringing larger borrowers, lenders, and market participants into the fold, and we are excited to roll this out in the coming days.
Another important step this year was our participation in Accountable’s $7.5 million round led by Pantera Capital. We’re big fans of Accountable. They’re a company whose technology and team will provide meaningful synergies as we resume growth in the lending business. Their expertise deepens TrueFi’s capabilities in risk, transparency, and reporting, all of which are essential for scaling responsibly. As markets recover and demand for credit increases, these capabilities will play a central role in re-establishing trust in RWA lending.
Although the external funding we expected for Elara did not come through, that has not slowed our momentum. The team developed a robust protocol that will allow TrueFi to operate a capital-efficient, economically aligned asset with real utility across the ecosystem. Even without outside capital, we retain full ownership of the intellectual property and are now exploring how to make use of it in a sustainable manner.
This work positions TrueFi well for future cycles, especially as stablecoins become the gravitational center of on-chain activity. The technical foundation we built also informed our next major development initiative.
We also shipped a major technical milestone: a CDP system on testnet that supports looping of yield-bearing assets. For users, this means the ability to deposit yield-generating tokens as collateral and borrow against them to purchase more of the same assets, amplifying potential returns in a controlled environment. This architecture opens the door for new product lines within TrueFi and potentially allows lenders to access leveraged yield in a transparent, risk-managed way. Early testing has been promising and we expect to share more in the new year.
We know the last few years have been difficult for the community. Trust was broken and the project struggled under the weight of legacy baggage. That is exactly why the current team approached 2025 with a focus on discipline, transparency, and execution.
We cleaned up operations. We recovered capital. We reduced unnecessary burn. We integrated new platforms. We made strategic acquisitions that strengthen our roadmap. And we laid the groundwork for new products that will define the next phase of TrueFi’s evolution.
All of this happened in a year when crypto token prices were broadly down and sentiment was mixed. Even so, the team is incredibly proud of what has been achieved. These results are the foundation of everything that comes next.
2026 is shaping up to be a transformative year. We have several important announcements on the way and a roadmap that is clearer, more focused, and more economically aligned than it has been in years.
Thank you to everyone in the community for your patience, your feedback, and your belief in what TrueFi can become. We wish you a restful holiday season and look forward to building with you in the New Year.
Jiang Zhuoer: This round of Bitcoin bear market may bottom out in Q4 2026, with a target range of $42,000 to $44,000.
BTC.TOP founder Jiang Zhuoer wrote in a post that Strategy’s modified net asset value (mNAV) has fallen to 0.72, near the 0.7 low hit in May 2022 during the last bear market. Citing recent market sentiment events including STRC’s depegging, he noted that mNAV is now in the bottom zone of this cycle. mNAV usually bottoms roughly six months before Bitcoin’s price. Using the "four-year cycle" and volatility decay model, Jiang projected that this Bitcoin bear market will likely bottom between October and December 2026, with a target price range of $42,000 to $44,000. He added that his recent medium-short term strategy remains focused on selling spot assets and holding short positions, and will switch to buying spot and going long once the expected bottom arrives.
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The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.
According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.
1 minutes ago
Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify
Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)
1 minutes ago
Crypto token M plunged over 80% in a short period, hitting a low near $0.5.
According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.
1 minutes ago
Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.
Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.
1 minutes ago
Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.
According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.
PANews reported on April 17 that Binance will delist the Dego Finance ( DEGO ), DENT , and TrueFi ( TRU ) spot trading pairs at 11:00 (UTC +8) on April 28 , 2026 , and terminate related trading bots, instant swaps, and small-amount asset exchanges.
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The King of Public Chains: Ethereum
Ethereum is an open-source public blockchain platform with smart contract functions. It provides a decentralized virtual machine (EVM) to process peer-to-peer contracts through its dedicated cryptocurrency ETH.
PANews reported on April 14th that, according to an official announcement, based on recent reviews, Binance will add watch tags to more tokens and remove seed tags for corresponding tokens on April 14th, 2026. The tokens added to the watch tag list are: Harvest Finance (FARM), Highstreet (HIGH), Enzyme (MLN), Resolv (RESOLV), Syscoin (SYS), TrueFi (TRU), and Velodrome Finance (VELODROME). The token whose seed tag was removed is: Tether Gold (XAUT).
Binance flagged seven tokens with its Monitoring Tag on April 14, triggering an immediate selloff across all affected assets.
The tokens include Harvest Finance (FARM), Highstreet (HIGH), Enzyme (MLN), Resolv (RESOLV), Syscoin (SYS), TrueFi (TRU), and Velodrome Finance (VELODROME). The designation signals elevated volatility and potential removal from the exchange.
7 Altcoins at Risk for Binance DelistingMarket reaction was swift following the announcement. SYS dropped 11.53% within minutes, leading the decline. MLN fell 6.89%, while VELODROME shed 6.09%.
HIGH lost 5.69%, RESOLV declined 4.99%, and TRU slipped 3.80%. FARM recorded the smallest drop at 2.00%.
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Altcoins Decline After Binance Adds Monitoring Tags. Source: TradingViewBinance’s Monitoring Tag has previously served as a warning signal for full removal. The exchange placed Beefy.Finance (BIFI) and Measurable Data Token (MDT) under the tag in June 2025.
FunToken (FUN) and Orchid (OXT) received it in March 2026. All four were confirmed for delisting on April 23, alongside FIO Protocol (FIO) and Wanchain (WAN).
That April 9 delisting notice triggered even sharper losses, with FUN crashing 27% and MDT dropping 22% within minutes.
“Tokens with the Monitoring Tag exhibit notably higher volatility and risks compared to other listed tokens. These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance wrote.
Traders who wish to continue accessing the flagged tokens must now pass a quiz every 90 days on the Binance Spot or Margin platforms and accept the updated Terms of Use.
“The quizzes are set up to ensure users are aware of the risks before trading tokens with the Monitoring Tag or Seed Tag,” the exchange said.
In the same update, Binance also announced it will remove the Seed Tag from Tether Gold (XAUT). The Seed Tag designates newer, higher-risk listings and differs from the Monitoring Tag. Its removal signals that XAUT has met the exchange’s criteria.
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