Crypto Exchange TutorialsCrypto Exchange Tutorials
    What's Hot

    The crypto industry needs a crypto capital market structure

    July 4, 2022

    Bitcoin’s inverse correlation with US dollar hits 17-month highs — what’s next for BTC?

    July 4, 2022

    Bitcoin addresses in loss hit all-time high amid $18K BTC price target

    July 4, 2022
    Facebook Twitter Instagram
    • Binance
    • OKEx
    • Hotbit
    • bybit
    Facebook Twitter Instagram
    Crypto Exchange TutorialsCrypto Exchange Tutorials
    • BitMart Tutorials
    • Gate.io Tutorials
    • OKEx Tutorials
    • Bityard Tutorials
    • FTX Tutorials
    Crypto Exchange TutorialsCrypto Exchange Tutorials
    Home » TrueFi launches on Optimism, expanding access to on-chain credit
    TrueFi launches on Optimism, expanding access to on-chain credit
    Business

    TrueFi launches on Optimism, expanding access to on-chain credit

    coffeecoinoBy coffeecoinoJune 8, 2022No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Unsecured lending protocol TrueFi has become the latest project to launch on Optimism, Ethereum’s popular layer-2 scaling solution, in a move that’s expected to boost demand from non-institutional lenders. 

    By launching on Optimism, TrueFi’s lender community will have access to a faster and cheaper user experience, as well as gain exposure to a wider pool of retail lenders. “TrueFi users can now lend, borrow and launch portfolios on Optimism to enjoy dramatically reduced transaction costs and network speeds,” Rafael Cosman, co-founder of TrustToken, told Cointelegraph in a written statement. He further explained:

    “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.”

    TrueFi was built by stablecoin operator TrustToken and shipped to institutional clients in November 2020. In February, TrustToken launched a new lending marketplace on TrueFi designed to give financial institutions the ability to design and launch their own financial products.

    Related: Balancer launches on Ethereum L2 network Optimism

    There are currently over 40 protocols deployed on Optimism, a sign that more projects were looking to take advantage of improved functionalities such as higher scalability and lower fees. Optimism has been designed to support all decentralized applications running on Ethereum via Optimistic Rollups, a scaling solution that operates in tandem with Ethereum’s main chain.

    TVL on Optimism appears to be bucking the general downtrend in DeFi. Source: DeFi Llama

    With more projects deploying on Optimism, the chain’s total value locked, or TVL, has spiked over the past week. Currently, network TVL is over $369 million, which is an increase of nearly $100 million since May 29. Network TVL peaked in late April above $510 million.

    • #Business
    • #decentralized marketplace
    • #Lending
    • #Scalability
    • #Layer2
    Related News
    • The Big Four Are Gearing Up to Become Crypto and Blockchain Auditors
    • Anatha founder addresses concerns around energy consumption, asset volatility
    • Corporate evolution: How adoption is changing crypto company structures
    • The business of a Bitcoin standard: Profit, people and passion for good food
    • Ethereum’s popularity ‘a double-edged sword’ — a16z’s State of Crypto report
    • Mashinsky says ‘Sharks of Wall Street’ circling around Celsius and other projects

    #Business
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    coffeecoino
    • Website

    Related Posts

    Tether continues to reduce commercial paper in sharp reduction since March

    July 1, 2022

    June roundup: Who’s hiring and who’s firing in the crypto space

    July 1, 2022

    Ignite CEO announces departure after seven years

    July 1, 2022

    BlockFi announces deal with FTX US, including ‘option to acquire’ for $240M

    July 1, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo

    coffeecoino covers fintech, blockchain and Bitcoin bringing you the latest news and analyses on the future of money.

    We're social. Connect with us:

    Facebook Twitter Instagram Pinterest YouTube
    Top Insights

    The crypto industry needs a crypto capital market structure

    July 4, 2022

    Bitcoin’s inverse correlation with US dollar hits 17-month highs — what’s next for BTC?

    July 4, 2022

    Bitcoin addresses in loss hit all-time high amid $18K BTC price target

    July 4, 2022
    Get Informed

    Subscribe to Updates

    Get the latest creative news from Cryptocurrency , bitcoin and ethereum

    Crypto Exchange Tutorials
    Facebook Twitter Instagram Pinterest
    • Binance
    • Huobi
    • CoinEx
    • BitMart
    • OKEx
    • Gate.io
    • FTX
    • Bityard
    • CoinFLEX
    • ProBit
    © 2023 coffeecoino. Designed by Nikrad Co..

    Type above and press Enter to search. Press Esc to cancel.