FAQ
Frequently Asked Questions about TRUF.Network
Our FAQ aims to answer every question we’ve been asked on Truflation and TRUF
What is the TRUF.network?
TRUF.network is an application-specific blockchain designed to aggregate, process, and distribute real-time economic data for use in decentralized finance applications and other blockchain ecosystems.
What is the TRUF token and what are its main functions?
TRUF is an ERC20-compatible token that serves as the economic layer for the Truflation ecosystem. Its main functions are Data Provider Node Operation, Data Provision and Consumption, and Governance.
How can users participate in Truflation governance?
Users can stake and lock their TRUF tokens for designated periods to receive veTRUF tokens, which grant voting rights in protocol decision-making activities.
What types of data does TRUF.network provide?
TRUF.network provides real-time economic data, including custom indexes like inflation rates, asset prices, and other economic indicators.
How can developers interact with TRUF.network?
Developers can consume data through an API for off-chain use or an Oracle for on-chain use. They can also create Adapters to process and distribute data within the network.
What blockchains is TRUF.network compatible with?
TRUF.network is available and synchronized across various Layer 1 and EVM-compatible blockchains, including Ethereum, Base, Avalanche, Arbitrum, BSC, Polygon, Fantom, and other EVM chains.
How does TRUF.network ensure data reliability and security?
TRUF.network uses a Byzantine Fault Tolerant (BFT) consensus algorithm, cryptographic signatures, and various quality control measures to ensure data authenticity, integrity, and reliability.
What is the role of Data Providers in the TRUF.network ecosystem?
Data Providers submit verified and quality-controlled data to the network. They can be first-party (original data publishers) or third-party integrators.
How does the TRUF token staking mechanism work?
TRUF.network node operators must stake TRUF tokens to be whitelisted and earn fees on the data they provide or facilitate. The amount staked and lock-up period determine the number of veTRUF tokens received.
What is veTRUF and how is it different from TRUF?
veTRUF is a token received by users who stake and lock their TRUF tokens. It grants voting rights in the protocol and is non-transferable, unlike TRUF.
How can users bridge TRUF tokens between different blockchains?
Users can bridge TRUF tokens through Truflation’s user interface, which uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to transfer tokens between Ethereum, Arbitrum, and Base networks.
On which exchanges is TRUF available?
TRUF is available on centralized exchanges like KuCoin, Bitstamp, MEXC, and Gate.io, as well as decentralized exchanges like Uniswap and Aerodrome.
How does TRUF.network maintain data quality?
TRUF.network employs various quality control measures, including data presence checks, historical comparisons, deviation analysis, and cryptographic authenticity verification. It also has a reputation system for Data Providers.
Has the Truflation smart contract been audited?
Yes, Stronghold has successfully fully audited Truflation’s governance and staking contracts.