Overview
Last updated
Last updated
The TRUF token serves as the economic layer for Truflation’s product and ecosystem, including the (TSN), which is a protocol designed to integrate real-time economic data into decentralized finance applications.
TRUF is an (Ethereum blockchain) token.
The 3 main utility functions for TRUF are: 1) Data Provider Node Operation
For Data Providers to join the network they will need to stake TRUF tokens in the Governance Portal. This ensures commitment and alignment with the protocol.
These staked TRUF tokens will also allow Data Providers to participate in the governance of the overall protocol, to authenticate and adjudicate protocol direction.
2) Data Provision and Data Consumption
Users of Truflation will pay TRUF tokens to access data on the network. These rewards will also be used to further reward data providers and contributors across the network.
3) Governance
TRUF token holders can participate in the Truflation governance by staking and locking their tokens for designated periods of time. As a result of this staking and locking mechanism, users receive Vote-Escrow TRUF tokens (veTRUF). veTRUF tokens grant holders voting rights in various protocol decision-making proposals.
