Lithium Finance Partners with TrueFi to Price Deposit Tokens
TrueFi, the leading decentralized protocol for uncollateralized on-chain lending, is joining the Lithium Finance ecosystem as a Wisdom Seeker to price its tfUSDC, tfTUSD, tfUSDT, tfBUSD lending pool tokens.
TrueFi, now with approximately $1b in TVL and more than $1b in successful loans originated, removes collateral requirements using both on-chain and off-chain credit data, thus maximizing capital efficiency for borrowers and passing on the most competitive rates of return to lenders.
With the integration of Lithium’s 1st party data oracle, TrueFi will increase liquidity for the various lending pool tokens — denominated as tfUSDC, tfTUSD, tfUSDT, tfBUSD — and denomination outstanding loans, by receiving timely and accurate pricing for these tokens, further expanding the composability of these Lending Pool Tokens across DeFi.
TrueFi is building lending infrastructure that helps money move most quickly to where it creates the maximum value — in simplest terms, brand new financial rails, in partnership with asset managers that offer the most compelling earning opportunities. This system demands the highest possible liquidity and fairest possible pricing, and we’re both grateful and excited to learn and build with our partners at Lithium Finance, all to make TrueFi’s Loan Tokens even more robust for both trade and development.
said Rafael Cosman, TrustToken CEO
Lithium’s 1st party data oracle utilizes sophisticated technology to crowdsource information from a large pool of subject matter experts (called Wisdom Nodes). Lithium’s proprietary mechanism leverages crowd wisdom to source ground truths on a wide range of illiquid assets. The Lithium protocol will use an incentive mix of our native $LITH token, together with reputation scores, to deliver rewards to Wisdom Nodes with answers deemed to be close to the ground truth.
TrueFi and Lithium Finance share the same goal of closing the gap between the real world and DeFi by introducing relevant on-chain lending solutions. We are glad to be partnering with one of the leaders in the uncollateralized lending space, and I am glad to join them on this journey.
said David Lighton, Co-founder of Lithium Finance
About Lithium Finance
Lithium Finance is the first collective-intelligence pricing oracle that provides precise and timely pricing information on private and illiquid assets. Our protocol leverages crowd wisdom and the DMI-mechanism to provide pricing on hard-to-value assets such as pre-IPO stocks, private equity, and other illiquid assets.
TrueFi platform brings uncollateralized lending on-chain, offering lenders high earning rates with full transparency of how the funds are used, and borrowers the ease of rapid loans without collateral requirements.