TruFin’s NEAR Launch — A Leap Towards Seamless Chain Abstraction
On September 5th, 2024, TruFin launched its cutting-edge institutional-grade liquid staking solution, TruStake, on NEAR Protocol (“NEAR”). This launch represents not just another milestone for TruFin, but a significant advancement in the broader Web3 ecosystem, particularly in the realm of chain abstraction — a key focus for NEAR.
Empowering Institutions with Compliance and Security
TruStake on NEAR will provide institutional participants with a fully regulatory-compliant access point to liquid staking. This is achieved through rigorous AML (Anti-Money Laundering) and KYC (Know Your Customer) procedures, ensuring that all participants meet stringent regulatory standards. As the regulatory landscape around digital assets continues to evolve, TruFin’s approach positions it as a leader in providing secure, compliant access to decentralized finance (DeFi) opportunities.
Maximizing Yields and Enhancing Liquidity for Institutions
One of the core features of TruStake is its ability to enhance yields through automatic re-staking of rewards. By leveraging TruNEAR institutional partner integrations, institutional users can seamlessly maximize their returns with minimal manual intervention. Additionally, TruFin addresses one of the primary concerns of institutional stakers: liquidity. Through TruNEAR liquidity pools and exchange listings, institutional users can obtain instant liquidity for their staked assets, allowing for more dynamic portfolio management and capital efficiency.
Seamless Integration with Leading Custody Solutions
From day one, TruStake on NEAR will be supported by some of the most trusted names in digital asset custody and wallet solutions, including Fireblocks, Copper, Finoa, and WalletConnect. This integration ensures that institutional users can manage their staked assets securely and efficiently, leveraging industry-leading tools that are trusted by financial institutions worldwide.
Security and Trust at the Core
Security is paramount for TruFin, and the NEAR launch is no exception. The TruStake NEAR solution is built upon a permissioned set of smart contracts, meticulously audited by BlockSec, one of the world’s leading Web3 security audit firms. This rigorous audit process ensures that the smart contracts are secure and reliable, providing users with absolute confidence as they engage with TruFin’s staking solution.
Advancing Chain Abstraction on NEAR
A defining aspect of NEAR’s approach to blockchain technology is its focus on chain abstraction — simplifying the user experience across multiple chains without sacrificing security or functionality. TruFin’s integration with NEAR is a perfect example of this vision in action. By deploying TruStake on NEAR, TruFin is contributing to an ecosystem where users can interact with complex DeFi products across various chains without needing to manage the intricacies of each individual network.
This launch is more than just a new staking solution; it’s a step towards a more abstracted, user-friendly DeFi experience. TruFin’s expansion onto the NEAR blockchain aligns with NEAR’s mission to simplify and enhance the user experience in the decentralized world, making it easier for both institutions and individuals to access the benefits of blockchain technology.
Conclusion
TruFin’s launch of TruStake on NEAR is not just another product release — it’s a bold move towards the future of decentralized finance. With its commitment to compliance, security, and innovation, TruFin is setting new standards in the industry. As NEAR continues to push the boundaries of what’s possible with chain abstraction, TruFin is at the forefront, providing the tools and solutions that will empower the next generation of DeFi users.
This integration marks the beginning of a new era where the complexities of blockchain are abstracted away, allowing users to focus on what truly matters: maximizing their returns in a secure and compliant environment.
About TruFin — The TruFin Protocol builds institutional-grade Web3 primitives, such as liquid staking, that can be used as the foundational building blocks for digital asset strategies to reduce risk, generate rewards, securely on-chain.
The TruFin Protocol does not provide services to retail customers nor is it intended that any information on TruStake is a promotion, offer, invitation or solicitation for the purchase or sale of any investment and must not be relied upon for the purposes of any investment decision.
About NEAR Protocol — NEAR is a highly performant, scalable L1 blockchain and ecosystem with 20 million monthly active users leading Web3 in consumer app adoption, Chain Abstraction, and User-Owned AI.
