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TrueFi Unveils First Protocol-to-Protocol Lending Portfolio for PERP

CryptocurrencyFeb 09, 2022 07:00AM ET
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TrueFi Unveils First Protocol-to-Protocol Lending Portfolio for PERP

  • TrustToken, builders of TrueFi, announces its partnership with Perpetual Protocol (PERP).
  • The protocol-to-protocol lending pool will grant perpetual’s market makers funds to create deep liquidity.
  • The portfolio is designed to support a broad scope of lenders in the future.

TrustToken, the builders of the leading unsecured lending protocol TrueFi and stablecoins such as TrueUSD has announced its partnership with Perpetual Protocol (PERP). The latter is an Ethereum-based decentralized derivatives exchange. Due to this alliance, TrueFi has launched its first protocol-to-protocol lending portfolio.

The portfolio will assist market makers with access to competitively priced loans to support much deeper liquidity on PERP. As per reports, the portfolio opens with a $5 million asset capitalization supported by Perpetual Protocol’s investors.

Rafael Cosman — CEO of TrustToken, affirms the company’s excitement about the partnership:

Smart contracts allow us to build sophisticated financial products in a transparent way. Perpetual’s decentralized futures contracts, with no settlement date, are a prime example of novel financial engineering enabled by the promise of blockchain technology. TrueFi is thrilled to support Perpetual as its first protocol-to-protocol lending partner, powering liquidity for Perpetual’s groundbreaking offerings, in a portfolio we expect to pass $100 million by year’s end.

Moreover, TrueFi aids Perpetual to scale its liquidity endeavor by debuting a dedicated lending portfolio to market makers offering liquidity directly to Perpetual’s trading pairs. Most importantly, the portfolio is designed to support a vast array of lenders in the future while launching with support for a limited list of participants. These limited participants are mostly drawn from Perpetual Foundation and PERP’s ecosystem supporters including Multicoin Capital and Dragonfly Liquid.

Furthermore, a TrustToken affiliate company — TrueTrading, will manage the portfolio on behalf of PERP. It will also provide compliance services to ensure the smoothest experience for Perpetual Protocol and its partners. Not only that, Amber Group will be able to engage with Perpetual on TrueFi with ease as a result of this collaboration.

In addition, Yenwen Feng, Co-Founder at Perpetual Protocol states the importance of market makers to DEX.

Committed market makers are crucial for any user-driven decentralized exchange, as they are the engine that keeps it going. By teaming up with TrustToken, we bring our market makers more liquidity to tap into as they support our own trading pairs. This grants liquidity providers more confidence through greater market stability and reduced slippage which ultimately results in a better trading experience for all of our users.

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TrueFi Unveils First Protocol-to-Protocol Lending Portfolio for PERP

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