Risk Mitigation

Has TrueFi been audited?

Yes, you can review TrueFi's technical audits here.

How does TrueFi mitigate risk?

TrueFi takes multiple measures to help protect lenders. Staking provides default protection for lenders. Borrowers on TrueFi follow a thorough Know Your Business (“KYB”) workflow and receive an on-chain credit score, which incorporates both on-chain and off-chain data, such as company background, repayment history, operating & trading history, assets under management, and credit metrics.
TrueFi has also upgraded the protocol’s handling of bad debt by introducing a Secure Asset Fund for Users (“SAFU”) smart contract to the protocol's architecture.
As of 3rd December, 2020, TrueFi lenders can also purchase smart contract cover through Nexus Mutual to hedge risks when lending on TrueFi. Coverage is paid out at the discretion of mutual members but has covered technical exploits in the past. This is not investment advice. Please Do Your Own Research.