• TrueFi reaches $1B in loan originations, without defaults
• Ethworks and $12.5M strategic funding were also obtained.
• TrueFi has already begun to roll out its first phases of the V5 upgrade.

Decentralized Finance (DeFi), is the latest hub for cryptocurrency project. Upon this, it is no surprise that DeFi’s Total Value Locked is approaching $100 billion, rapidly emerging as an alternative to TrueFi. One company marks it’s one-year anniversary paving the way for one of DeFi’s strongest use cases: uncollateralized borrowing and lending.

TrustToken is the company behind TrueFi. TrueFi has been a pioneering DeFi protocol that uncollateralizes lending. It celebrates its 1 year anniversary with $1 billion of loans. There have been zero defaults. Ethworks was acquired and $12.5M of strategic financing were also achieved. TrustToken’s C-suite was also enhanced earlier this month with notable Wall Street and Silicon Valley experts.

Following its expansion, TrustToken’s CEO Rafael Cosman says that the acquisition of EthWorks and its world-class team of engineers and designers is crucial for the future of TrueFi. They will be able to improve the speed and security of the protocol and create the best possible opportunities for lenders, borrowers and token owners, according to Cosman.

Not to mention, TrueFi says it is already deploying the first stages of V5 and it also plans on improving platform protocols to expand institutional-grade investors’ potentials in the DeFi-verse. TrueFi V5 will allow for capital scaling, at both the individual loan level and the lending size.

TrueFi borrower can also stake TRU (its native token) to raise their credit limit as well as improve their rates. TrueFi V5 will improve the borrower experience and model support for third party asset managers, who may eventually create their TrueFi pools.

TrustToken’s rapid growth will be accelerated by its veteran Wall Street and Silicon Valley hires. DeFi’s vision is to expand its reach into traditional finance by strengthening the brand through the addition of a talented team that includes innovators.

Rafael Cosman is TrustToken’s CEO and Cofounder. He speaks about the change in senior management.

I’m confident that the new senior leadership team will prove decisive for TrueFi’s development. TrueFi will be taking TrueFi’s value from $1Bn up to $1Tn. This requires us to go beyond crypto lenders and borrowers that TrueFi currently works with.

TrueFi lenders have received approximately $8.5 million in interest. Over 5000 wallets as well as thousands of TrueFi exchange partners like Coinbase (NASDAQ;), Binance and FTX holding TRU have participated in dozens governance votes. The protocol will now be guided by these voting members.

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