TrueFi confirming the triangle pattern

TrueFi as the broader market took a hit yesterday. However, TrueFi seem to better hold that the market and by doing so, confirming the triangle pattern in orange.

What is TrueFi?

TrueFi defines itself as a DeFi Protocol for Uncollateralized Lending. A DeFi Protocol is a protocol of open finance (ledger on the chain instead of centralized by an institution such as a bank). Uncollateralized lending is the action of lending money without counterparty (you don’t put anything to guarantee the good reimbursement of your loan).

TrueFi helps customers to build on-chain credit history. Indeed, when borrowing money on the blockchain, the customer is going to leave a mark or an history of the credit. Thanks to that, customer can build its reputation of good payer while a bad payer will automatically be detected at a larger scale.

TrueFi currently operates with crypto native trading firms and is intending to gradually diversify to all industry and individuals. Its current focus is to create/provide an attractive return adjusted based on the risk model created on the chain.

No financial advise, we all invest at our own risk.